7k estate agent fees?

[Timetosell123]

Hi has anyone sold a property in London recently? Our estate agent has quoted a fee of 7k incl vat. Quick Googling threw up fees of around 3-4k. Who have you used? Recommendations?

I think you are probably getting a good deal as a regular customer (and that you are a good negotiator). My price collection is of the stated price, no negotiation (I'm pretty sure I could get them down to 1.5 easily). I can't be more specific than that for confidentiality reasons! - but in the area of London I deal with, the agents (mostly independent but some of the big chains) are pretty consistent on 2%.

(And also my main reason for posting originally was to emphasise to people that the stated percentage will be plus VAT).

But that's another point, folks - NEGOTIATE! 😆

This does not sound right. Flat fee would to my mind mean they are not confident the property will sell?!
We sold in London 3 years ago after two failed attempts (thanks to covid!!) engaged two estate agents and both asked 1.5% which we negotiated down to 1.25% and I wouldn’t have gone any higher than that, rather use purple bricks! The estate agents do very little for the money.

I don't understand anyone who is saying that's reasonable.
I'm in SW London and the going rate is currently 1% plus VAT. I have a friend who is an estate agent and she said that even the 1% can sometimes be negotiated down to 0.75% or 0.8%, although probably not on properties below 500,000.
All agents are no sale, no fee, so what am I missing?

It depends on the house value? What’s your house valued at? We’ve been given 0.8% fee plus VAT

Edit to add: just seen £390k - they are robbing you