Neg with EA's?

vodkagirl001

We have found the new EA's we wish to use and their fee is less than the ones we were with (which is bonus) at 1.25% plus VAT - however they it states that if we remove the property from the market with them we will have to pay them £100.

What kind of neg can I do about this - were happy with the 1.25% fee but I'd rather not have the £100 fee and have it on a no sale, no fee thing, do you think there is much negoiating that can be done around this.

I was thinking of perhaps asking them, if we remove it within 4 weeks of going up with them (or maybe 6 or 8) then we pay the £100 but if is been up with them for x weeks and still not sold and we remove it we pay nothing, does this sound reasonable, or sound like something they would go for or what else would you suggest?

MJMum

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Doozergirl

Knock them down to 1%+VAT. If their flat rate is 1.25% it should be easy.

And I'd also get a line put through that £100 clause (but out of the two I'd settle for paying 1% when it sells)

Like MJMum says, if they want your business and also, if any valuation they've given is truthful, then they won't have a problem, will they!?

saxy1

Why dont you consider selling it yourself privately??

stolt

we negotiated with our EA to 1% which is what the vendors told us they were paying with the same EA, just had an offer put in on ours 7k under asking price which we have accepted so were over the moon.

Phirefly

saxy1 wrote:

Why dont you consider selling it yourself privately??

Yeah, why not? That or try housenetwork or similar. I've been going through the pros and cons of this with my Dad who's about to put his property on the market.

If it were me I'd DEFINITELY go the housenetwork route, but in his case I don't know whether it would be the best idea. Thats because he's selling a 2 bed bungalow in a reknowned blue-rinse haven and his target market are the traditionalist 'build a nice rapport with that lovely young EA on the high street' type, and could possibly miss those not au fait with 'new fangled' methods of househunting. I think there could be some value in the supposed local knowledge of his village EA (even then I'm still sceptical)

In your case though, you've already PROVEN that a traditional EA is rubbish, what makes you think another one will be any better? Your target market will almost certainly start their search at rightmove and anyone interested in buying your sort of property who is registered with your new EA will also have been registered with your old one. From reading your tale you're obviously savvy enough not to believe their rubbish about their amazing hot box of people desparate for a property like yours. if that were the case they'd have viewed already thrugh your 1st EA.

During my last couple of years househunting it amused me to see how properties that had been on the market for TIME got moved to another EA, the photos slightly different but other than that, to me as a buyer there was absolutely no difference. I think your property sale needs seem ideal for a fixed fee-no high street EA, you just need a fast, efficient service that will reach your target market, namely by getting lots of bright pictures of your pad on rightmove for the cheapest fee going.

Good luck!!!

callmelinda

The £100 clause worries me as a seller because they will profit from you whether you sell or not which can't be right. Therefore the incentive to work your property hard in the market is diminished since they know for every 10 homes they can't sell, well they will make £1000 when the sellers pull the contracts anyway - in essence the loose equivalent of them making their 1% fee on a £100,000 sale if you see what I'm saying.

If you definitely want to go with them and they won't pull that clause totally, say that you agree to have that clause in there BUT it can only be acted upon should you pull out in the first 8 weeks of being on the market from the given date in the contract. Make sure that it's clearly reworded and signed and this will mean that they are covered against you being a timewaster and you are covered if they can't do their job.

Everything can be negotiated and if they don't want to do this it would turn me off them completely and I would go to another agent and negotiate the fee %.

david29dpo

the £100 fee is for there advertising if it dont sell in 8 weeks so they dont profit. it will be easy to remove this fee after the 8 weeks, because it will be sold by then! ( so the agent says!)

vodkagirl001

Thanks for the advise guys, ill have a word with them.

How do I go about Neg this then? do I ring them and try and neg before they come out or get them to come out to put it on the market and go through it with them then - I get really nervous about these types of things never know what to say or where to start the convo, what do you suggest?

david29dpo

just tell them, dont ask. its your call. you will feel great after!

vodkagirl001

david29dpo wrote:

just tell them, dont ask. its your call. you will feel great after!

LOL I hope I will feel empowered and like a new person with my new found confidence of telling EA's what to do lol.