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Advice on estate agency fees
Neil._3
Posts: 8 Forumite
Have just had the estate agents round and the cost will be 1.75% and they would be sole agents for 12 weeks. Does this sound resonable?
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Comments
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Did they say what else this included?
We had three agents round when selling our flat and none quoted higher than 1.5%. That included floorplans, virtual tours on their site and links on all the major property sites (rightmove etc) and was for a tie in of a month and being sole agency.0 -
1% + VAT is what you are looking for. I have no problem acheiving that where I live, just by asking for it. The more agents you get in, the better idea of valuation you have and the more you can play them off against each other on fees.
Bigger names tend to be more expensive for no better, or (in my experience) poorer service. It's the house that sells itself to people most of the time! I'd always opt for a small chain of local independents eg. where the name on the sign matches at least one person who works there!Everything that is supposed to be in heaven is already here on earth.
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estate agent, that sounds more than reasonableHave just had the estate agents round and the cost will be 1.75% and they would be sole agents for 12 weeks. Does this sound resonable?
As an estate agent, that sounds more than reasonable. Haven't charged anybody that much for years.
As a seller, I wouldn't pay it, you can negotiate that figure down.0 -
they would be sole agents for 12 weeks.
If they think they can sell at the price they are suggesting, why do they need that long? So they can get you to drop the price after a few weeks of nothing happening...RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
By following the tips on the selling of house managed to get estate agent fees down from 1.95 down to 1.25 + vat and 8 week lock in, remember you have the power here. Though sometimes it feels like they do. Stand your ground and state the price you want. Tell them everything you want and if they want your business they will take it and if not they wont.
At same time i wouldent immediatly jump with a company who straight away agreed with your terms, that would shout weak to me and i would not be confident in knowing they were selling my house.
how much is the value of your property if you dont mind me asking?0 -
We sold our house for 1% plus VAT, included in this was a virtual tour on Rightmove and their own website including floor plans and photographs! I think we only signed on for a 4 week period . The virtual tour never happend though because we sold within 5 days of going on the market, one day after we had accepted an offer we had a full page advert in the local paper, 5 photos of just our house.0
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I got mine down to 1%+VAT. I just told the 3rd EA that my best offer so far was 1.25% negotiable so he said 'how about 1%?' Easy as.
The house sold on its second viewing 5 days after going on the market for which the EA got nearly £3000. No wonder he was driving a flash Audi....0 -
Just gone on market at 1% with 2 week notice.
% depends on value of house though, lower price may mean higher % fees as EA needs to put in similar amount of effort regardless.0 -
One £150k house sold @ 1% last year.
Another much more expensive house sold @ 1.25% this year.
Both agents really supportive & hard working. The tough negotiation on the cheaper house probably paid the agent's bill - I was all for agreeing at £148k! We were only locked in for six weeks with both, but never considered switching.
Above all get an agent you like. Best way to do that is get half a dozen round at intervals and jot down what you think between visits. Look at their particulars (!) especially photography, and see how long it takes them to answer the phone etc. (We got an answering machine 3 times with one firm.)We could've had 1% on the expensive house too, but really wanted the more pricey firm. Beat them down 0.5% though.
Sorry, rambled on about choosing, but it's not just about %, though this is MSE, of course.0 -
just sold house with ea who charged 0.5% + vat. they have been really good as well, getting feedback etc. they were new thats why cehap rate but now gone up to .95%0
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