Average estate agency fees

middleclassbutpoor

We are paying 0.9% inc VAT (0.75% exc)

No tie in period/min advertising period etc.

We had quotes of 1-1.25% + VAT which had tie ins etc.

Finchy2018

We just paid 0.5% plus vat. It took just under a year from the property going on the market to completion, so the agent earnt very little on our sale.

Mutton_Geoff

Finchy2018 wrote: »

We just paid 0.5% plus vat. It took just under a year from the property going on the market to completion, so the agent earnt very little on our sale.

Are you happy with the fee paid or the time it took to sell?

Finchy2018

Would have preferred a quicker sale, but it was an unusual property that won't suit many people so it reduced our target market quite significantly. I knew it wasn't going to sell over night unless we were very lucky.

Okrib

Depends entirely on the area.

It's the biggest sale / purchase you are likely to make. You need professional advise and guidance throughout the process. Remember you only pay the fee on an offer you are willing to accept.

Would you rather pay 1% of £300k or 1.5% of £310k? The lower the fee, the quicker the agent will want the deal done.

It always amazes me that people will focus on fees for agents and solicitors. They are possibly the two most important choices in the process!

Go with the agent who sells the most of your type of property in the local area. Even if their fees are higher.

justjohn

Does it actually matter what agent you use too sell?
Hardly anyone uses the high street shop window too house hunt and 99.9% of the EA's advertise in the same online platforms.


So it comes down to the photo's and the write up. They have to be pretty bad to effect the sale. Most EA's should be able to do those competently.


You could say some EA's negotiate the price better than others I suppose(however they should do what you tell them). Or do you choose an EA based on there list of imaginary buyers that are waiting to buy your particular house.


The flannel / Sales patter that some of the EA's come out with is just carp.

justjohn

We are just getting quotes in to sell a 5 bed residential and quotes for the sale on 2 commercial properties. Residential is coming out at 1-1.4% and commercial at 1.5%. Does not include vat, advertising , home report or any fees for boards etc.


We have found a EA that does not charge an upfront fee and only 1% on commercial or a flat minimum fee of 700 + VAT. We will probably go with them.


The residential will be sold with an online agent.


I would have preferred selling with one agent, however it is not viable.

eddddy

justjohn wrote: »

Does it actually matter what agent you use too sell?

There are good EAs and bad EAs.

A recent example I was involved with... a property on the market for £350K for weeks with a laid-back EA. Listed on Rightmove etc. Almost no interest.

Moved to a more proactive EA who suggested increasing asking price to £365k.

They actively got on the phones to 'drum up' interest, and got an offer of £365k within a week, which went on to complete.


Often it's a case of choosing the right EA for a particular type of property, and for a particular type of target buyer.

pinkteapot

justjohn wrote: »

Does it actually matter what agent you use too sell?

It absolutely does.

We've just sold, and our EA was worth their weight in gold. Getting a buyer - any agent (including online ones) can do it if it's a sale-able house. So long as it's on Rightmove, it doesn't really matter who the agent is (though some EAs annoy buyers by trying to force them to see their mortgage broker and that kind of thing - I'd avoid those). If a house is 'tricky' for any reason, agent makes a difference as others have said.

However, you find out how good an agent really is between accepting an offer and exchange of contracts.

Our sale got pretty fraught due to some stress in the chain. Our EA kept everyone calm, talked people down from pulling out, etc.

One of the people in the chain was selling through Purple Bricks and they were hopeless. When anyone tried to contact them they'd get a different person each time, have to explain again what conversations had been about, etc.

That seller ended up talking directly to their buyer rather than going through PB. Personally, I'd hate that. House buying and selling brings out the worst in people and I'm very happy to pay an EA to be the one talking to my buyer rather than me.