Estate agent fees

blobbi

Just sold my house, through sequence (fox & sons). They are my Sole agent and so the rate is 1.5%. We have a 10% discount voucher. Now it comes to billing they have said that the 1.5% is discounted from the normal rate and do this discount does not apply.

Does the 1.5% sound correct. Should I go over his head to head office to try and get the discount given. It is a realativly large amount so I do not want to let it lie plus they should of honoured this or we may have gone else where.

googler

Without knowing whether or not you discussed the discount when you instructed the agent, or surprised them with it at settlement time, we can't comment. More detail required.

Without knowing what they said about their fees, whether discounted or not, at the time you instructed them, again, we can't comment.

Can you furnish more detail?

Where did you get the 'discount voucher' if not from the agent themselves? Does it say anything on the voucher similar to "Cannot be used in conjunction with any other promotion" ?

MrRee_2

Did they see the voucher before they marketed the house?

Does the voucher state "Not to be used in conjunction with any other offer"?

Does your agreement state that the 1.5% is an OFFER price?

Depending upon the above I would argue that 10% SHOULD be taken off the bill.

To be brutal, 0.5% is all anyone need pay to sell a well priced property!

Personally I negotiate a flat fee - non of this % crap!

If you want to get the 10% then just tell them that you will raise a County Court Case against them, the costs of such action will be in addition to your claim. They will cough up pretty quick - I can assure you!

The Voucher is a marketing ploy and it should be made to come back and bite their bums!

googler

MrRee wrote: »

To be brutal, 0.5% is all anyone need pay to sell a well priced property!

How do you reach this conclusion?

Hoof_Hearted

googler wrote: »

How do you reach this conclusion?

I guess he worked out that most EAs are money-grabbing fat cats who will settle for a lower rate rather than nothing at all.

G_M

Hoof_Hearted wrote: »

I guess he worked out that most EAs are money-grabbing fat cats who will settle for a lower rate rather than nothing at all.

As is the case with many carpet superstores, car dealerships, electrical retailers, conveyancers, drug dealers, market greengocers..... in fact - BUSINESSES.

Hoof_Hearted

Don't have any experience of drug dealers myself, but you are correct in assuming that all of the others will accept less than the advertised price on many occasions.

hotpot1000

It is evident EA's are greedy, they charge more to sell a more expensive house than a cheaper house, how can they honestly say that there is more work to justify bigger charges?
How do they get away with it?

Hoof_Hearted

hotpot1000 wrote: »

It is evident EA's are greedy, they charge more to sell a more expensive house than a cheaper house, how can they honestly say that there is more work to justify bigger charges?
How do they get away with it?

Hopefully, for not too much longer. Online agents who charge a flat fee are the way to go if you don't mind doing your own viewings.

G_M

Hoof_Hearted wrote: »

Don't have any experience of drug dealers myself, but you are correct in assuming that all of the others will accept less than the advertised price on many occasions.

No dealer wants to go home after a long night 'hanging out' on a street corner with his pockets full of Frampton. He'd rather sell it at cost.

they charge more to sell a more expensive house than a cheaper house, how can they honestly say that there is more work to justify bigger charges?

You're showing a punter round a 1 bed flat. Takes 2 minutes. Showing a city banker fat-cat round a 6 bed mansion with underground gym, swimming pool and extensive grounds takes al afternoon.

MrRee_2

OK, I've bought and sold plenty of properties.

In the good years I have sold privately, it is really simple - I refuse to pay some EA a huge amount of money in a moving market.

I have used EA's in quiet times - the 1990-1994 years come to mind - the key to getting a great price in a very slow market is to tell the EA that you will market your property at less than they value it at (not much, just 5%) ..... this gets their juices flowing - they know that there will be plenty of buyers at this price and you haggle a flat fee (equal to just less than 0.5%). Do NOT agree a %!

Reason being is that the property then goes to sealed bids and the price achieved is higher than any EA valued it at (when they wanted 1.5%!).

When you've been in the game as long as I have, you know the score .....