Estate Agent's Fees -Advice Pls

friendly_ghost

I've just been quoted 1.5% (fine - if they do a good job) but it is plus vat. Marcus, is the 1% you refer to also + vat? Thanks by the way for your original posting. I made a list of points to cover which was a great help[.

Greentea

Usually fees are plus VAT. Often there is a separate charge for boards, advertising etc that has to be paid whether or not they sell the house.

Try to get them to allow you to walk away without having to pay anything if they dont find a seller in 8 weeks (thats long enough). Otherwise you will be stuck with the agent unless you pay the fee for boards.

Doozergirl

Was 1.5% the first figure quoted? With agents here, they say 1.5% but will go to 1% straight away when you ask. So if you haven't already asked, you must!

My experience of selling in London was that we couldn't get them lower than 1.5%.

friendly_ghost

First & last - He would not move - quoted MSE - but to no avail - and I am in Cornwall. Have 1 more coming tomorrow and have yet to book a third.

nelly_2

Tell them they get 1.5% for 4 weeks then after that it drops to 1% or your selling it on the net/ privately, see what they say?

friendly_ghost

Thanks Nelly - will see what other agents offer but will note that as next step!

....Have just rethought this and should do it asap to see who is going to be most flexible! Otherwise, the process could go on and on.

friendly_ghost

Greentea wrote:

Usually fees are plus VAT. Often there is a separate charge for boards, advertising etc that has to be paid whether or not they sell the house.

Try to get them to allow you to walk away without having to pay anything if they dont find a seller in 8 weeks (thats long enough). Otherwise you will be stuck with the agent unless you pay the fee for boards.

What would a reasonable charge be for these?

Doozergirl

Most agents fees are inclusive of these - the only ones I've come across that charge extra tend to be the more exclusive agents or when you advertise out of area. I was quoted £850+vat on my house, and £1500+vat on a redevelopment project. It comes down to the price of property and the types of marketing they use - if you go in the Sunday Supplements, it costs!

You should try and avoid these agents to start at least, I think. It does depend on the value/location of your home. If it's quite high/great then they can really work to help you get more for the property.

friendly_ghost

Thanks, unfortunately, my price is very much the national average, but every piece of info is a help. If an agent knows you are informed.

jalowes2002

I am in a very similar position to you. We have had our house on the market with a local estate agent on an 8 week contract and 1.25%. Iwent with them because I thought they would do a good job but to be honestI think they have sat back and not made much effort.

I am deliberating now whether to put the house on with a estate agent who seem to be shifting houses, but they will absolutely not budge on a flat rate of 1.5%. Their arguement is that reflects the amount of work they do and they already have a large porfolio of properties. It may be that the extra .25% is a difference between selling the house or leaving it on the market. Its decision time, I suppose go with your gut instinct......

friendly_ghost

... yeah yeah yeah - we've heard their 'spiel' all before, haven't we! Today's agent quoted 1.85% lowest and will advertise 1st 2 weeks then once a month. The 1.5 guy says advertising every other week (have left msg for him but he's not back til Mon - I will say that if he advertises first 2 weeks then every other, 'could' go his way). Both will let me out on 2 weeks notice - so Ive achieved that much. Gut feeling tends to be right more often than not. Good luck