What's the best fee you have negotiated with an estate agent? Knight Frank, Hamptons, Foxtons

(15 Posts)
Clockworktangerine Thu 28-Jan-16 20:19:59

We are selling our house and have been offered various fees from various agents. The best deal I have so far is on multiple agency basis and tied in for 6 weeks, at 1.25%. Most of our local agents will offer this, Knight Frank, Hamptons, Savills, Marsh and Parsons.

We live in SW London and property is at a premium because of the schools/green space/short commute to London etc.

What's the best fee and terms you have negotiated with a well known chain of estate agents?

Foxyloxy1plus1 Thu 28-Jan-16 20:49:26

1.25. Bear in mind that the six weeks then requires notice, so is actually longer (in our experience anyway.)

Are there any more local agents? We found the chain agents useless. They are so big that there is no personal touch and no one takes the time to get to know your property. In fact, we got out of one contract because the agent was so crap. Messages not passed on, the agent failing to turn up for a viewing, no feedback from viewings, agent turning up with potential buyers at a time when we had specifically said we had visitors and offered several alternatives.

The ine who sold our house was local, with a network of about six branches. We dealt with the same person throughout and the house went to the first people he brought round for a viewing.

It's about customer service as well as fees. No good having low fees if the house hangs around on the books and doesn't actually sell.

TheAnswerIsYes Thu 28-Jan-16 21:56:20

The last two houses that I sold I negotiated 1% including VAT with six weeks tie ins (multi agency). The first house was with a local agent and the latest one was with a chain. I'm in West London.

The agents knew our houses would sell quickly so I really pushed for the low rate as it would be an easy sale for them (even though we advertised the properties at £10k over the agents estimates both houses achieved asking price within 4 weeks!).

Hiddlesnake Thu 28-Jan-16 21:58:07

1% on south coast.

lastqueenofscotland Thu 28-Jan-16 22:24:07

Whereabouts in sw? I know for a fact kf don't really do "deals" on their fees, it costs what it costs unless you have tonnes of property. You may have more luck with an independent

icysphincterporn Thu 28-Jan-16 22:29:41

YABU

Purplepicnic Thu 28-Jan-16 22:35:07

Not London but SE. I've never paid more than 1% and the last one was 0.75%. A competitor was offering it and I asked the agent I wanted to match it and they did.

edwinbear Thu 28-Jan-16 23:04:16

Sold my last one via Foxtens for 0% commission as part of a deal they did as they had just opened a new branch in our area grin

awkwardas78 Thu 28-Jan-16 23:25:34

Agents do have a huge outlay when they take a property onto the market. There are the costs of newspaper advertising, producing a brochure and the cost of advertising on Rightmove is phenomenal because they are such a popular website and can hike their fees up. An agent is unlikely to make much by charging less than 1.5%. Bear in mind that a better agent should get you a better price for your property so may be worth paying a slightly higher fee for.

hellinabreadbasket Thu 28-Jan-16 23:30:04

I'm in se London and negotiated a flat fee (think 1.5% at 5,500 and I said I'll agree at 4,500. It's way easier to negotiate a flat fee

ridemesideways Thu 28-Jan-16 23:39:28

Agents are pretty much a waste of money in this digital age, unless you don't have anyone to hold a key for viewings. Getting onto Rightmove & Zoopla via Housesimple costs £500 flat fee, payable after completion or 12 months. With a sellable property I'd never waste fees on a traditional % agency.

Cressandra Thu 28-Jan-16 23:41:46

We negotiated that they would get 10% of sale price after the first £x000. We sold in 2 weeks for over the asking price. We paid more to the agents but for good reason IMO.

I don't think it pays to negotiate down too hard. Do you want your house to be the one that is worth less to the agent than all the others on their books? That said even I might be tempted by 0%!

ridemesideways Thu 28-Jan-16 23:51:21

Sold 3 properties via online agents in last 12 months. Fees worked out as less than 0.2%. All for asking price.

ceeveebee Thu 28-Jan-16 23:58:55

We just sold our house in SW London - agent asked for 1.25%, DH knocked them down to 0.75% up to asking price and 10% for anything over that. Saved us a few thousand! I can PM you the agent name if you are local to Kew or Richmond?

ceeveebee Fri 29-Jan-16 00:00:30

Oh and that was exclusive basis. They did all viewings (we have relocated so couldn't even if we wanted to which we didn't!)

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