Estate Agent's Fees -Advice Pls

friendly_ghost

I've finally gone with an agent who quoted 1.25. So far u
it took 10 days to get details done, so I was not particularly impressed! Had it not been for the advice given here, I certainly wouldn't have got below 1.5% and would have probably got locked in for 8-12 weeks. So thank you all very much.

Ian_W

Hi friendly ghost,
Just made an enquiry about a prop in your neck of the woods and the response from an EA near you has been - totally underwelming!! :mad:
Rang them two weeks ago to ask for details, nothing arrived - emailed last weekend from their website, still no response!
Will PM you with details but perhaps goes to show EA costs aren't everything! Can't be the local culture [for want of a better term!] - with 2 other agents property details arrived by post within a day or so.
With so much property on the market I won't be chasing them, that's for sure! :rolleyes: Pitty the vendor won't know that!

John_M_Business

In all times REMEMBER that it's not just about the fee, it's about the overall result.

I went with an agent who was charging 0.5% above another - but I knew he could get a better price. The price he's achieved for me is about 8% above what the other agent expected for me... worth the extra bucks in my opinion.

FWIW I would choose (as long as the fee is 2% or less) the EA who presents well, invests in marketing, has a strong range of properties, knowledgeable staff and sells quickly in YOUR area.

friendly_ghost

Thank you to both of you. At the moment, nothing is selling quickly in this area. I think, in hindsight, I've made wrong choice, based on price & marketing, although I'm not sure there is a right choice. My second choice was .5% higher but I was put off by very young agent, thinking older, therefore, experienced might be better - unfortunately, it might be older and lazier! I'm going to get a couple of friends to mystery shop for me and see what happens!

Conrad

Ian_W wrote:

Hi friendly ghost,
Just made an enquiry about a prop in your neck of the woods and the response from an EA near you has been - totally underwelming!! :mad:
Rang them two weeks ago to ask for details, nothing arrived - emailed last weekend from their website, still no response!
Will PM you with details but perhaps goes to show EA costs aren't everything! Can't be the local culture [for want of a better term!] - with 2 other agents property details arrived by post within a day or so.
With so much property on the market I won't be chasing them, that's for sure! :rolleyes: Pitty the vendor won't know that!

As I own a local mortgage shop I deal with all the E/As.

They tell me the reason they ignore enquiries from 'distant' applicants, is that the chances of a 'distant' applicant doing business are remote. They come to this opinion after years of experience.

Its all about risk / reward balance. Many E/As try and focus thier efforts on clients that are most likely to produce actual business based upon the agents passed experience.

If you owned a business you would be very aware of postage, printing and time costs, so you would be likely to focus your attentions on those most likely to do business.

Ian_W

Conrad wrote: If you owned a business you would be very aware of postage, printing and time costs, so you would be likely to focus your attentions on those most likely to do business.

You seem in a very patronising mood to-day, Conrad, judging from this and other posts. I'm posting my experience of EA's in her area for the benefit of the OP - so whether or not I own a business is not material and, BTW, none of you business either!

But I do understand the point you make, so if the EA says we don't post out details, call in when you're down here - I'd been fine with that. But to say they will post them out, then not do, hardly gives me a positve image of this particular firm. Also what are the postage and printing costs of sending the details by email? Time cost should be less than a few minutes of any semi-competent office worker. So I'm sorry the excuse doesn't wash, particularly when you consider several other facts about the OP's area and property there.

1. Low wages and highly seasonal work for many locals [was/is? only UK area with EU Area 1 status].
2. Highest house prices outside the SE.
3. Highest % of any county [I believe] of second homes.
4. High number of incomer retirees.
5. About twice as many props on RM and fish4 than when I started monitoring the local market in the Spring prior to actively looking to buy next week.

Strange also that 4 competing agents [sorry, missed 1 in my 1st post] in the same area were all prepared to send details of props on their books. They'll probably go out of business being so profligate with their expenses whilst selling houses - whereas the tight wads will be quids in saving money, err but not selling many houses?

Just a final thought, now you mention it. They were the only ones, on my very 1st call to them, who asked if I wanted in-house mortgage advice which I declined. Oh, you don't think that could have a baring do you? Oh, no, shocking, perish the thought!! :rotfl: