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How much do/did your EA cost?

(6 Posts)
CrapBag Tue 11-Mar-14 14:54:40

We are currently selling a shared ownership property. We have to allow the HA to market it for 6-8 weeks before we are allowed to go on the open market (although they still have to approve the buyers).

So far we are coming up to 3 weeks and not heard a single thing. They only advertise on the shared ownership website so it does not exactly reach a wide audience and we have to pay them nearly 1400k for this priviledge.

Once it has hit 6 weeks, I will be going with an estate agent because they will market it a lot better and at least it will be on right move. The HA will then only charge an admin fee of £250 but obviously we will have the EA fees on top.

One company said they charge 0.65% which sounded really good. They aren't as common as some but I'm not sure that makes that much difference. I think I worked out it would be under £800.

Another company that deals with many shared ownership properties have said they can't say how much because they will need to see the property and then give us a price. This company is far better known, many SO properties have gone with them. They also target first time buyers which would likely be our target market. I can imagine that they will be more expensive though.

Another company that has a SO property department has said they charge a flat rate of 1k plus VAT.

How much was yours and would you always go with a more well known one over a smaller cheaper one?

patchesmcp Tue 11-Mar-14 15:58:46

Just sold ours STC with one of the big 2 in our area and it was a fixed fee of £1700 which was less than 1%. DH haggled them down though as I think originally it was going to be 1%. It saved us about £500 so it is worth negotiating with them.

When we sold our first house we initially had it on with a new estate agent as their fee was a lot lower than the others, but think we only got 1 viewing in 8 weeks. We therefore switched agent when we could and it sold quickly after that, so our experience it's worth going with a well known agent.

SpringyReframed Tue 11-Mar-14 17:03:09

I've just had 2 EA's quote me 1.5%. One is a small one man band and the other a national agency. I've another coming round tomorrow so will be interesting to see if they are all the same. So far suggestions for price to go on the market for is quite different though.

CrapBag Wed 12-Mar-14 22:53:33

Thank you. I have someone coming next week to tell me how much, probably who'd we would want to use.

Anyone else?

Lucylouby Thu 13-Mar-14 10:10:34

We paid 1% on a house sale of £140000. Seems to be about standard round here on a house in that price bracket.

CrapBag Thu 13-Mar-14 10:24:45

Do you know if its 1% plus VAT?

The housing association said we have to pay 1% (if they actually bother to sell it for us) which I calculated then when they gave us the figure, it was more and I didn't realise that they hadn't bothered to tell us about the VAT added to the 1%.

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