Estate agent fees - advice for first time seller

Skinto_7

googler wrote: »

Oh, go on.... why not?

I would guess because its always easier to get something done before you pay for it rather than after!!!

DRP

Helen36 wrote: »

Dear all,

I'm about to put my property on the market. It is going on at £230,000 and I have been offered a sole agency fee of £3,750 + VAT, which makes a total of £4,500. I was shown a higher rate initially (sorry, can't remember what it was), which was closer to 2%, and I said that was too high so he dropped it down to this fgure (with an 11 week contract, which I got reduced down from 20 weeks). There is also an addition online marketting fee of £200 + VAT.

Does this all sound reasonable or should I be pushing for a lower fee? This is definitely the estate agent that I want to use as their office is right opposite my property, their ads look really good on RightMove and they will also market my property in their city central branch.

Thanks for any advice,

Helen

wow those fees sound high. Obviously there are local differences to take into account as last week all 3 agents I contacted quoted 1%+VAT without any negotiation (marketing the property at 230,000).

We decided on our favourite and asked if he could 'beat the competition' and he agreed to use a sliding scale which goes to 0.94% if it goes for under the asking price and 0.88% if it goes for more than 5000 under the asking.

Online marketing is included and we have a 6 week contract (which is just about a perfect length imo).

steve1980

Helen36 wrote: »

Dear all,

I'm about to put my property on the market. It is going on at £230,000 and I have been offered a sole agency fee of £3,750 + VAT, which makes a total of £4,500. I was shown a higher rate initially (sorry, can't remember what it was), which was closer to 2%, and I said that was too high so he dropped it down to this fgure (with an 11 week contract, which I got reduced down from 20 weeks). There is also an addition online marketting fee of £200 + VAT.

Does this all sound reasonable or should I be pushing for a lower fee? This is definitely the estate agent that I want to use as their office is right opposite my property, their ads look really good on RightMove and they will also market my property in their city central branch.

Thanks for any advice,

Helen

I'm assuming the online marketing fee is for a Premium Listing. Even so, no agent should charge for ANY online marketing.

With regards to offering your home through other offices I would question this as the only estate agent group that can and does do this is anyone within the TEAM group.

ebee1

have you thought of using an online agent? ours has sold within 2 months with hatched.co.uk, great if you are happy to do the viewings yourself and they market it for you and take all the photos etc. we paid 200 up front and then it is another 250 when it goes through

hazyjo

Sounds very pricey to me too.

Most are sold via rightmove now so I'd not worry about the EA's office being as near to your home as possible - and definitely wouldn't be fussed about it being shown in their 'city central branch' (do you mean London, or central Brighton?).

Brighton's a big place. There must be several agents competing for business. Get at least two other quotes for fees and for them to value your property.

I begrudged the 1% fee I paid last year (East London) and would definitely not have used an agent who charged extra for stuff that should be included.

Jx

googler

Rudess wrote: »

Tell this agency that you have an offer from one of their competitors of 1%, and you expect them to match it if they want you to sell through them.

So you propose that the OP basically lies about a fictitious rate that they've supposedly been quoted....?

geoffky

googler wrote: »

So you propose that the OP basically lies about a fictitious rate that they've supposedly been quoted....?

Why not...i do it all the time for my insurance.....moneysaving site?

Russellq

Hi

Have a look at eMoov.co.uk

Full estate agency service for £295 plus vat. Hundreds of sales

googler

geoffky wrote: »

Why not...

Because it's dishonest?

DreamweaverB

timmyt wrote: »

NEVER pay anything up front, or walk away. Full stop.

Never use online, but ALWAYS a high street Agent.

Terrible advice unless the OP has money to burn.

I sold my £415,000 house a few weeks ago via the online estate agent House Network and paid less than £1,000 in fees. The service was excellent and I'm over £3,000 better off than if I'd used a High Street EA.