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is 1% EA Fees achievable ??

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Ivenofinmoney
Ivenofinmoney Posts: 131 Forumite
in House buying, renting & selling
After reading the advice on the sticky in this Forum, I set about getting my house on the market, Yesterday an agent came round to value the property, when we came to discussing fees he stated 1.5% I said I was looking for 1% he said no way - and then just walked out of the house :confused: . ( I thought these guys were supposed to be negotiators ?)

We had another agent round this morning, he has started at 2%, I wasn't there so the OH gave him a gentle nudge and then suggested he needs to speak to me.

How often are others managing to hit this 1% target ? What am I doing wrong ??
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  • lilyann1
    lilyann1 Posts: 514 Forumite
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    In our area(surrey),there are loads and loads of EA's who will offer 1% !!!!
    So it is achievable
  • willis
    willis Posts: 123 Forumite
    First Anniversary Combo Breaker
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    I've got 0.75%! Keep looking. I had a range of valuations, ranging from 0.75 to 2%. I decided to go with the lowest one, because I believed the house would sell fairly easily (good price, not much competition in the area, just decorated) so I thought I may as well try with the lowest one, then if that doesn't work out, all I've lost is a few months.
    Try smaller agents, who can be more flexible. Try to find new companies- they'll be keen to build a reputation (but will probably have less people on their database) and keen to attract customers with low rates. I'd only recommend this if you're not in a huge hurry to move.

    A final note is if you really push agents to go lower than their normal rate, you may find yourself at the bottom of their list of priorities? Better to stick to one that offers low rates as standard I'd have thought.

    I forgot to say - the house sold in the first week, so I'm really glad I gave the cheap agent a try!
  • Angela_D_3
    Angela_D_3 Posts: 1,071 Forumite
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    I would suggest you get what you pay for, the best agents will walk our when you try to screw them down on fee, if a service is worth having and you want the best price find the most expensive agent and be prepared to pay for them.
    If you think it's just a case of putting an board up, advertising in the local paper and internet then do it yourself.
  • mjfusent
    mjfusent Posts: 113 Forumite
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    We chose the best agent in the area and where easily able to get 1%, I think it depends on the area of the country but also the property value, this was for a house in Newcastle up for £300,000.
  • RHemmings
    RHemmings Posts: 3,467 Forumite
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    When in Brighton I'm sure I saw an EA sign advertising 0.5% fees. But there have been some wise words about getting what you pay for. It's not like EAs typically give a good service is it.
  • pawpurrs
    pawpurrs Posts: 3,910 Forumite
    Combo Breaker First Post
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    Try asking for a set fee, I got £2000, fixed fee, and that works out at less than 1%.
    Mind you they didnt have to do much, as all viewers came of right move, I negotiated the deal myself and it sold within a week or so of being on their books.
    Personally I wish I had tried it on that internet website that puts it on Rightmove for £500, but I am confident that I know the ins and outs enough to do it myself.
    Pawpurrs x ;)
  • Ivenofinmoney
    Ivenofinmoney Posts: 131 Forumite
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    pawpurrs wrote:
    Try asking for a set fee, I got £2000, fixed fee, and that works out at less than 1%.
    Mind you they didnt have to do much, as all viewers came of right move, I negotiated the deal myself and it sold within a week or so of being on their books.
    Personally I wish I had tried it on that internet website that puts it on Rightmove for £500, but I am confident that I know the ins and outs enough to do it myself.

    Thanks. My last experience of selling a property was similar to yours i.e. I did all of the leg work myself and then the agency took a cut, I would certainly be confident enough to do it myself, just not sure what image it presents of me as a vendor, i.e. hard nosed / tight fisted ... I know sub-consiously I am wary about houses marketed privately ??? Don't ask me why ??:confused:
  • Angela_D_3
    Angela_D_3 Posts: 1,071 Forumite
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    Ivenofinmoney wrote:
    Thanks. My last experience of selling a property was similar to yours i.e. I did all of the leg work myself and then the agency took a cut, I would certainly be confident enough to do it myself, just not sure what image it presents of me as a vendor, i.e. hard nosed / tight fisted ... I know sub-consiously I am wary about houses marketed privately ??? Don't ask me why ??:confused:

    I'd rather deal with the vendor directly and save everyone 1% + VAT.
  • Woby_Tide
    Woby_Tide Posts: 5,344 Forumite
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    We used a fixed fee agency that advertised in local property paper, cost £345 or 0.1% They did the newspaper adverts and internet property sites and fielded phone calls, we did the viewings and the negotiations and the chasing up to completion. If I'd have paid 1% for their service I'd have been cheated
  • lju
    lju Posts: 209 Forumite
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    I've also got mine on the market for 0.75%, so keep trying!
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