Seeking partial refund of Estate Agent Fees - Advice gratefully received...

parkrunner

If they had been the best agent on the planet and got everything done in half the time for the same cost to you their hourly rate would have been far higher. Always more than one way to look at something.

Dean000000

Surrey_EA wrote: »

Solicitors rarely work on a 'no sale-no fee' basis.

In order to cover the cost of marketing houses that don't sell, and the ones where either the seller or buyer change their mind at some point, and to allow the 'no sale-no fee' business model to continue, the £5000 doesn't just go to cover that one sale.



In terms of hours, in most cases, the EA will spend far longer working on a sale than the solicitor.

You beat me to it and put it more succinctly than I could ever had....

The point I was going to make was that if your EA hadn’t have been able to get a buyer, and you withdrew, would you be rushing to pay the fees that they had reasonably expended marketing your property?

Doubt it - win some lose some init!

Thrugelmir

SweatyGoans wrote: »

But £5,000 for a 10 minute visit to a house is fair value? I shouldn't expect more?

Not how the business model works. Who do you think pays for all the EA's unproductive time and expense outlayed? Say they marketed your property for 6 months then you decided to pull it from the market. As no buyer was found. You'd say tough if they attempted to charge you the costs they incurred I suspect.

You can apply the same logic to a vast number of business models.

Sachs

That's absolutely not an excuse for poor service though. Lots of industries work on a no sale no pay model. The suggestion that you can provide a terrible value for money service to a client who is paying you because other clients won't pay you is nonsense.

I don't care how many of your clients won't pay you, that's your problem. If I am paying you £5,000 and you don't even know who I am we have a serious problem.

Dean000000

SUmfInK fOR nUffINg kRew

Comms69

Sachs wrote: »

That's absolutely not an excuse for poor service though. Lots of industries work on a no sale no pay model. The suggestion that you can provide a terrible value for money service to a client who is paying you because other clients won't pay you is nonsense.

I don't care how many of your clients won't pay you, that's your problem. If I am paying you £5,000 and you don't even know who I am we have a serious problem.

In that case carry out due diligence, use another service, or do it yourself...

googler

Sachs wrote: »

The suggestion that you can provide a terrible value for money service to a client who is paying you because other clients won't pay you is nonsense.

Nobody suggested that. We merely pointed out the mechanics of the business model, and the amount of time and money that those who don't pay the EA take up in relation to the sellers.

Sachs

Or maybe complain about the service you have received and request a refund for poor service?

Estate agency is not sacrasant. If you received poor service in any other industry you would complain so the same applies here.

The OP has distracted from their original problem by questioning the business model but the fundamental issue of what level of service people should expect from an estate agent remains.

A number of commentators in this thread have basically said so long as the house gets sold you have no cause to complaint. Would you apply that to an expensive restaurant, so long as you leave full of food nothing else matters?

SweatyGoans

Sachs - Yes, agreed. The thread does seem to have meandered somewhat! Seems to have generated a lot more conversation than I was anticipating too!

Probably comes down to a subjective view of what one expects for after sales service from an Estate Agent, or the level of service from any professional commercial organisation for that matter - and in that respect I maintain have been very underwhelmed as initially described
SG

Comms69

Sachs wrote: »

Or maybe complain about the service you have received and request a refund for poor service?

Estate agency is not sacrasant. If you received poor service in any other industry you would complain so the same applies here.

The OP has distracted from their original problem by questioning the business model but the fundamental issue of what level of service people should expect from an estate agent remains.

A number of commentators in this thread have basically said so long as the house gets sold you have no cause to complaint. Would you apply that to an expensive restaurant, so long as you leave full of food nothing else matters?

You have a right to complain; they have a right to ignore that complaint.


Frankly whinging is childish. The desired outcome was achieved.