Average Estate Agents Fees

angelicmandy

Hi all,

im wondering if anyone has a rough idea of what sort of estate agents fees are reasonable for selling a property worth £80k in the West Midlands. My partner's mom in law is selling one on behalf of her sister for whom she has power of attorney and has been quoted £5,000.00. I dont know if Im out of touch but this seems extremely expensive to me. She instructed the agents when myself and my partner were on holiday & has told us that they "all seem to be in the same region". They have obviously done the usual - ie putting a board up, details in the agents office & on the internet (although no pictures on there) and shown quite a few people round to view.
Thanks in advance

jbainbridge

That strikes me as very high. Expect to pay 1 - 1.5% plus VAT.

DRP

jbainbridge wrote: »

That strikes me as very high. Expect to pay 1 - 1.5% plus VAT.

there may be a fixed fee for a properties with a low asking price (rather than a % fee) - these tend to be higher than the 1%ish you;d normally pay.

5 grand sounds ridiculous though (>6.25% depending on what the property is sold at)

jbainbridge

Fair enough ... but as you say though 5 grand is a bit over the top!

googler

She shouldn't just have a 'quote' - if the property is on the market and being viewed, she should have a written contract, and the fee, whether a flat fee or percentage-based, should be stated therein.

sjlou

sounds expensive to me.
We paid just over £2k, when selling a property at £115k in Birmingham recently.

A friend paid a similar fee (just under £2k i think) for a £80k flat in Birmingham also.

Might not have much of a choice now though if she's signed into a contract with them.
Could withdraw from market, and wait until the contract states they are allowed to market with someone else.

angelicmandy

Thanks everyone. I will see if she has a written contract or anything in writing from them. I thought it sounded expensive.

Hoof_Hearted

Outrageous amount....

Mickygg

Some do try it on. One ea quoted me 2.2 % plus vat, when all others were 1.5%. You should get 3 quotes from local eas for valuation and also fees.