Estate agent fees - how much could/should it cost?

E&G

Hi

Looking to sell a property and wondering what sort of fee I should be looking at. Sale price will likely be 80-85k, property in Scotland. Happy to do viewings ourselves.

Thanks

kingstreet

1% + VAT for a local independent.

£2,500 - £3,500 + VAT for national chain with "minimum fee."

Morata_

Anything over 1% would be too much. You should be able to negotiate any % quoted.

We’ve achieved 0.5% NO VAT! High street, just takes a bit of communication.

anselld

£99 online if you are happy to do the work yourself.

Margot123

Whatever figure you are quoted, remember you can negotiate.
They want your business, so even if the deal sounds good, you can always ask for a better one.
Without you, they will earn nothing on the transaction.

E&G

Thanks all.

I presume the nationals offer nothing more than local independents for the money? I shall definitely be negotiating but am I right in saying not to go for whoever gives the highest valuation (as the market dictates anyway)?

Also, for the online only option, what additional work does that entail (and does it include an advert on rightmove)?

JoJo1978

We were quoted 1% and we negotiated down to a flat fee and no VAT (0.8%), London local independent, full service

googler

If you're in one of the main cities, or very local to one, you should consider going with a local member of one of the SPCs. Solicitor Property Centres.

There's no point in going with a national estate agency, nor a standalone estate agency in Scotland, because you still need a solicitor to complete the transaction, and you'll either need to hire your own, as a separate entity, or be referred to one by the agency.

For convenience, and ease of admin, it's tempting to suggest you find a local solicitor who is active in property sales and get it all done under one roof.

Many of the city-based firms, at least in the capital, offer fixed-price agency fees regardless of property value. It shouldn't be too difficult to find them with a short google session

The valuation provided by any agency will largely be a guide only - the factor which will influence your eventual selling price the most will be the Home Report valuation, so yes - you shouldn't anyone on the basis of their valuation figure

Riggyman

1% +vat or sod off

LandyAndy

JoJo1978 wrote: »

We were quoted 1% and we negotiated down to a flat fee and no VAT (0.8%), London local independent, full service

How did you persuade them to break the law by not charging you VAT?


Or did they actually charge you 0.667% + VAT?

Aylesbury_Duck

LandyAndy wrote: »

How did you persuade them to break the law by not charging you VAT?


Or did they actually charge you 0.667% + VAT?

Or possibly 0.83% +VAT to make it 1% inc. VAT.