Recent estate agent commission rates

movilogo

Hi

What is the current rate of estate agents for selling house?

If you have used any national agent, please mention which one and what % rate they are charging.

Thanx

hazyjo

I've paid 1% for at least my last three moves.

(East London and Essex.)

Jx

movilogo

Is it ex/inclusive of VAT?

hazyjo

VAT on top (as is usual).

Jx

Paully232000

Mine worked out at 0.8% of sale price. Was a fixed price, and worst it would have been (as wouldn't have sold it less than a certain price) was 1.3%.

moneyistooshorttomention

I'm paying 1.25% + VAT to mine once I get to Exchange of Contracts point.

I am assuming that means 1.25% of the "sale price" rather than the "asking price"....but this EA has been ethical to date in the way they have treated me and I've not checked that point (wouldn't be very much difference at all....as I got darn nearly my asking price).

One thing that always strikes me when people try and beat an estate agent down to the lowest percentage possible is they may find they "get what they pay for" and hence I could have got an EA that charged me 1% or even 0.75% but I think I might have got a lower level of service for this.

The service I have received for this rate is:
- nice posh brochure (even for my cheapie little house)
- accompanied viewings and feedback afterwards
- a very clearcut pricing structure without any hidden extras
- plan of house as standard
- decent photos (not awful on the one hand or "over-egging" things with those "expander" photos on the other hand)

and I think overall (with one or two minor points re efficiency levels - but I would say overall they have probably been very efficient by British standards) that I've probably had pretty good value for money with them and pretty much the service level I expected. The main thing being they weren't trying to push me into accepting less than my house is worth to get their commission as fast as possible and they accepted my viewpoint of "It takes as long as it takes to get the correct price for my property...but I don't want any hanging round putting in less than maximum effort" stance.

Considering that one of the local "chain" estate agents charges more than 2% for what is obviously an absolutely appalling level of service (from viewpoint of both buyer and vendor) and I only managed to get some idea of their charges from the local grapevine (as they darn well wouldn't tell me...no matter how many times I asked them:cool:) I don't think I've done too badly.

I'd use the same EA again.

hazyjo

Just to add - that was their set fees, apart from one who offered it anyway as they had dealt with me before.

Also got three quotes on the last house I sold (in Brentwood) and all three were charging 1% + VAT.

Most do negotiate or match fees charged by competitors.

The difference in commission (before VAT) from 1% to say 1.25% is minimal to their commission and it shouldn't make a difference on how they deal with your sale. If you're talking 1% to 3%, that would obviously have an impact.

Jx

moneyistooshorttomention

Nearly forgot, but I also got for my rate:

- frequent special listing status on RightMove ("premium listing"??)

- frequent adverts in the local newspaper

- my property details up in relevant shop windows (theirs and others).

...none of which I had either asked for or expected...but there it was:)

Mustn't forget...but apparently it isn't standard to have a member of staff "dedicated" to "progressing chains" and making sure there are no hold-ups with them. I hadn't realised such a member of staff might exist and some EAs don't have them. Mine does have such a person and they are a former solicitor...so I get that too.

hazyjo

Pretty standard, money. Most still do use newspapers, although usually fortnightly rather than weekly now.

All use their windows (and any relevant branch windows).

Not sure about the premium listings, but it makes naff all difference to me as a buyer as people have either paid for it, or it's what they offer. If it really was a case of their best property getting that status on their decision, maybe people would take notice. Also got floorplans included.

Jx

mufi

hazyjo wrote: »

Not sure about the premium listings, but it makes naff all difference to me as a buyer Jx

When we were house-hunting, 'premium listing' emblazoned on a property that I'd seen a hundred times before meant "tried everything else, now really desperate".

So a negative for me.

gazter

mufi wrote: »

When we were house-hunting, 'premium listing' emblazoned on a property that I'd seen a hundred times before meant "tried everything else, now really desperate".

So a negative for me.

For anyone who has ebayed in quantity, there is a noticeable improvement in hits for products that take on the 'top of listings' and enhanced offerings.

In sales its about the hits, the more hits the more people are looking the more likely you will find the purchaser.