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Estate agents- what is a typical exclusivity period?
wine_night
Posts: 111 Forumite
We have an investment property that is currently let out. We are looking to market it for sale with the same agents who currently manage the letting.
The agents have come in with a reasonable fee, but their exclusivity period is 20weeks. This looks high to me and exceeds the remaining term on the current tenancy.
The agents have come in with a reasonable fee, but their exclusivity period is 20weeks. This looks high to me and exceeds the remaining term on the current tenancy.
What would be a typical exclusivity period for agents? It is a city centre flat.
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Comments
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It's usually negotiable. Not an EA but have moved a lot. I wouldn't want more than 8 weeks. My last EA offered 6 before I even put a figure down.
Extremely advisable to evict tenants before marketing. Or certainly within a few weeks of the transaction.
Their fee is usually negotiable too. Not sure where you are, but it's been an EXTREMELY long time since I've paid over 1%.2024 wins: *must start comping again!*1 -
Most try for 12 or 16 weeks and when I'm done negotiatiing I usually cross the 16 weeks out put 2 weeks.
Let them give you their spiel about they can sell it quickly etc etc then once done negotating price tell them it is 4 weeks or nothing. Guaranteed they will change it for you.1 -
Don't know what the 'norm' is but I wouldn't sign up to more than 8 weeks max. If they are doing a good job you can always stick with them longer. If they are not, you don't want to be stuck with them for longer....Likewise don't agree to a long notice period. 2 weeks max.1
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Thanks for the replies. When we had our house valued in the suburbs, the selling fees were typically 0.7-0.8% + VAT but in the city centres fees seem to be higher, at least 1%.Looks like 20 weeks is a starting point to come down from! Thank you for the tips.0
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It's a sellers market still as there is limited availability of properties still going up. Our estate agent really wanted our property and was so confident of a quick sale that he offered 4 weeks of exclusivity (we only needed one weekend of viewings). Just say that another estate agent offered 4-6 weeks exclusivity and I'm sure your estate agents will match.
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