Asking price

Herzlos

Normally an estate agent charges a percentage of the sales price, and potentially some costs associated with marketting.

It sounds like you're over thinking it, why aren't you just going with whatever their default proposal is?

If you want to sell the house quicker, then you're probably going to have to shift on sale price rather than any deal with the estate agent because they are usually trying to sell the house fast for the best price already.

Dropping the asking price will bring more buyers in than anything else you can do. But it still depends on the reason it's not selling quickly enough - it's usually about the money but could be condition or something else.

20122013

Herzlos said:

Normally an estate agent charges a percentage of the sales price, and potentially some costs associated with marketting.

It sounds like you're over thinking it, why aren't you just going with whatever their default proposal is?

If you want to sell the house quicker, then you're probably going to have to shift on sale price rather than any deal with the estate agent because they are usually trying to sell the house fast for the best price already.

Dropping the asking price will bring more buyers in than anything else you can do. But it still depends on the reason it's not selling quickly enough - it's usually about the money but could be condition or something else.

This was the original proposal:

' SOLE AGENCY COMMISSION: 'xxxx estate agents' will charge the minimum fee of £xxxx plus 20% vat £xxxx. this fee covers all charges including advertising, promotional costs and monitoring the sale, etc.  (This agent  were cheeky, as during valuation they have given me a lower fixed fee and when  received the TC via email, the word minimum was added and the fee was increased)  This has since resolved )

I agree. I think their original valuation was low (as it would be a quick and easy sale for them. I want to break even  and not a big loss) I have parked the other agents for now as their TCs are not for me, hence I am left with this agent, they do not have a lot of listings and all of them are now reduced and only sold one property in last month.  Hopefully, they will be focusing on my property.

BarelySentientAI

I sense frustration and disappointment in your future.

Turning down agents because you don't like their T&Cs is sensible when you have better options.

Picking the last available agent, who "do not have a lot of listings and only sold one property in the last month", and then trying to make up your own T&Cs seems to me a lot less so.

20122013

May I ask your view on a TC which has two options, both will end up with the agent getting their fees regardless who / how the property is sold and non negotble.

Bigphil1474

They aren't offering a fixed fee though? They are saying they will charge a minimum of XXX - that's not the same. Is there a maximum or is it the traditional percentage of sale price with a minimum built in? We paid 0.9% of sale price plus VAT on ours, which worked out at around £2k. 

BarelySentientAI

20122013 said:

May I ask your view on a TC which has two options, both will end up with the agent getting their fees regardless who / how the property is sold and non negotble.

I'd say such a contract was unusual.

20122013

BarelySentientAI said:

20122013 said:

May I ask your view on a TC which has two options, both will end up with the agent getting their fees regardless who / how the property is sold and non negotble.

I'd say such a contract was unusual.

I agree, this was one of the TCs with a different agent. Other agents TCs:
1/ Sole Selling Rights –  only one agent to sell my property and are tied into a sole agency period.
2/ Multi agency – no tie in period,  can change agencies.

BarelySentientAI

20122013 said:

BarelySentientAI said:

20122013 said:

May I ask your view on a TC which has two options, both will end up with the agent getting their fees regardless who / how the property is sold and non negotble.

I'd say such a contract was unusual.

I agree, this was one of the TCs with a different agent. Other agents TCs:
1/ Sole Selling Rights –  only one agent to sell my property and are tied into a sole agency period.
2/ Multi agency – no tie in period,  can change agencies.

Both very common.

20122013

Bigphil1474 said:

They aren't offering a fixed fee though? They are saying they will charge a minimum of XXX - that's not the same. Is there a maximum or is it the traditional percentage of sale price with a minimum built in? We paid 0.9% of sale price plus VAT on ours, which worked out at around £2k. 

Sorry about the confusion. The agent has removed the word 'minimum' (as the word 'maximum' was missing)t   

The agent had counter offer a 'fixed fee' PLUS VAT' , I think I have to let them have the VAT and confirm the fixed amount.