Agent fees %age

Jewel_2

House is going on the market and I went to see the agent in our village who I have always used!

She has said that we could get about £350,000 for our house, and would charge £4000 fee (which is just over 1% by my reckoning). But, it will be £4000 whatever we sell it for.

We are going to get a few agents in to compare, but:

(a) is she being realistic, or is she just not bothered anymore?

(b) what percentage should we be looking at?

merlinthehappypig

I'm not sure if you mean is she being realistic about the price?

That's not something anyone on here can help with as only you know your house and the local area. Have a look at recent sold prices and get a few agents out for comparison. That will give you the best idea of what the house is worth.

As far as fees are concerned, 1% is about right these days. Some will charge a little more, some a little less, but the most important things is the service that you will get. I'd rather pay a little more for a good agents than save a few pounds, but get poor service.

VAT is charged on the EA's fee so you might want to check whether they have quoted inclusive of VAT or whether you need to add that on as well.

Rover

The price quoted will be exclusive of VAT - never known an EA to quote all in.
1 - 1.5% is reasonable. £4k irrespective of selling price is not, in other words they can aspirational price as they wish but recommend you accept any old offer price with no loss to them.

Shop around, but EA's maybe getting choosy at the moment and liable to decline custom not on their terms. They only get paid when they sell don't forget. When asking agents about their terms, don't forget their tie in period - no longer than 3 months I would suggest.

Also is your house on a thoroughfare? If it is you could probably sell it yourself, given a realistic valuation. If you are not in a rush, you could try this option first - ban a board on the thoroughfare. If no luck, pay an agent.

Debt_Free_Chick

My own view (currently about to put house on the market) .... your EA only gets paid if they sell. If you want them to work for you, give them an incentive.

If your house takes 6 months to sell, then £4k is equivalent to only £153 a week, which is less than the minimum wage.

Jorgan_2

Rover wrote: »

The price quoted will be exclusive of VAT - never known an EA to quote all in.

The agent may not have a turn over high enough to warrant being VAT registered. Best for the OP to check exactly what the fees are.