We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Confused
Options

evergreen
Posts: 396 Forumite


I am about to put my house on the market. I live in the South and haven't moved for 25 years, so am totally confused as per estate agents. Anyway the first agent, who you pay a set fee to and advertises on tv a lot said a price with offers in excess of. The second one, a local one where you can pay a percentage, or part set charge plus low percentage says house should go on sale for £50,000 more. Third local estate agent suggests that price too, their percentage is higher and last estate agent says price right in the middle of the other 2 prices, but higher percentage still. The first estate agent, did say others would say more to win my business, and when I texted him to say I wouldn't be going with him at this time he rang straight away, to ask why. I said I thought a local agent with an office was probably more appropriate to my house. He asked what the other agents had said, and said the higher price was too high and to be careful of asking too much and having to keep reducing the price as people will think there is something wrong with the house.
I'm not sure what to do now, my gut feeling is if I go with pay one fee, sale or don't sell, then the price doesn't matter to that estate agen, although I'm sure reputation is a big part of them being able to attract people. Any one any thoughts on this or have recent experience of estate agents? I should say I am a Widow so am making these decisions on my own for first time so that might be why I am so indecisive.
I'm not sure what to do now, my gut feeling is if I go with pay one fee, sale or don't sell, then the price doesn't matter to that estate agen, although I'm sure reputation is a big part of them being able to attract people. Any one any thoughts on this or have recent experience of estate agents? I should say I am a Widow so am making these decisions on my own for first time so that might be why I am so indecisive.
0
Comments
-
In your shoes, I would use a local high street EA and negotiate the commission and the length of term you sign up with them for (wouldn't want more than 8 weeks, 10 at absolute worst). Pay at the end, not at the beginning. If they've got their money, you risk them not needing to bother with your sale. Doesn't sound like an online agent would be that good for you, you'd be better with someone with local knowledge who can talk you through the process.
I'd not really expect to pay more than 1% (your area may vary).
I'd usually pick an average price to market at. You can always reduce it once (substantially) if overvalued.2024 wins: *must start comping again!*0 -
I'm not sure what to do now, my gut feeling is if I go with pay one fee, sale or don't sell, then the price doesn't matter to that estate agent
Good advice from hazyjo - we didn't pay anything until the house was sold and then only 1%.
If you have the nerve to post the EA listing on here, people will give you good advice about how good the photos and description are and ways you can improve on them.
The advice can sometimes be a bit harsh but it's worth it to sell quickly!0 -
Just to emphasise - I've never come across a 'conventional' estate agent who wouldn't negotiate (haggle) on the terms of their contract.
The easiest (and frequently successful) negotiation lines are:- "ABC estate agent is quoting a commission rate of x% - can you match that?".
- "Obviously, I'll get a very good feel for how things are going after 4 weeks - so let's start with an 8 week minimum contract. That will allow 4 weeks to see how things are going, and then I can give 4 weeks notice, if things don't seem to be working out."
But more importantly: read, understand and compare their contracts before deciding. Contracts can vary very significantly.
The 'ideal' contract to aim for is 'no sale, no fee' sole agency.
Red flags to try to avoid include 'ready, willing and able buyer' clauses, and withdrawal fees.0 -
Thank you for your advice, very useful and things I hadn't thought of. Can I ask how you decide what price to put it on for when they vary by a lot? Do you think some bump up the price to make you go with them?0
-
Thank you for your advice, very useful and things I hadn't thought of. Can I ask how you decide what price to put it on for when they vary by a lot? Do you think some bump up the price to make you go with them?
How much you go above those figures depends on how long you want to wait and whether you think your house has a strong USP (unique selling point) of some kind. This is usually something like a great unspoiled view, big garden etc, rather than a new bathroom or a conservatory, which are just 'nice to haves.'0 -
Agree with all this - the local agents will have a better knowledge of what is selling and for what price. Some agents will inflate what they think it will sell for to encourage you to go with them. As someone said look on Rightmove or Zoopla under sold house prices - if you type in the name of your street it will tell you the most recent selling price for each house. This gives you a good idea if someone is inflating the price they think you will get.0
-
Don't pay too much attention to the asking prices of other properties - some of these will have sat on the market for ages because they are overpriced. The actual selling price could be much less (or they might be withdrawn from the market). Instead look at sold prices.
When looking at minimum terms, be careful of the notice period. Can you serve notice during your minimum term, or is the notice period in additional to the minimum term?
Make sure that in the event the property doesn't sell and you want to switch agents, that the agent will provide a list of everyone who they have introduced. You can then give that to your new agent, and if any of those people enquire again then they should be directed to your first agent. This protects you against both agents claiming their fee for introducing the same person.
Check what marketing is included in their quote, do you get photos, copy, floorplan and EPC or are any of those extra charges (all are essential)? Look at their adverts for other properties online, are the properties well presented? Will they conduct all viewings?
Decide on the price that you want to market it at and give that to the agent as your instruction. Agents won't turn you away over asking price unless they think it is totally unrealistic, and even then they'll probably try to sign you up and then convince you to reduce your asking price later.Note: Unless otherwise stated, my property related posts refer to England & Wales. Please make sure you state if you are discussing Scotland or elsewhere as laws differ.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards