Estate Agency Fees

woahsoah

I'm about to start the process of selling a house. I'm quite a good customer of this particular estate agents and have 2 properties with them. The one I am looking to sell should go for 700-750k. Does this give me any clout in negotiating fees? Just to squeeze them a little. They do give me a decent deal on rental agency fees. This is the first time I'm selling a property, I'm not very familiar with how it all works

thanks!

hazyjo

Most will negotiate on fees. It's usually expected. You should also consider contract length (I'd not want more than 8 weeks max) and terms (watch out for things like "sole selling rights").

woahsoah

Thank you. I will look out for those. It is in a sought after area and I do know friends of friends who are "looking" so would want that "sole selling rights" removed.

hazyjo

Make sure you give them any names of possibly interested parties. That will eliminate future problems if any go on to buy.

eddddy

Sometimes the easiest way to negotiate on fees is to get a few EAs to look at the property - and take note of which one offers the cheapest fees.


Then ask the EA that you prefer to price-match the cheapest.


It's also worth asking all the EAs for a copy of their contract. Then read them through to make sure that your chosen EA doesn't have 'nastier' terms than all the others.

woahsoah

We settled on 0.8% + VAT. From what I hear this is reasonable. I am being sent a copy of the contract!

thanks all!

hazyjo

woahsoah said:

We settled on 0.8% + VAT. From what I hear this is reasonable. I am being sent a copy of the contract!

thanks all!

Great stuff. How many weeks are you tied in for?