Estate agents fees

[deste]

What are the average percentage fees charged by estate agents to sell a flat in the Surrey area. I have had a difference in charges of between 1.5% and 3.5%. One quoted approx £6000 to sell a flat valued at £200.000. That included VAT and lots of other things that my DD has forgotten. Is this the going rate or are we being fleeced. I am in Scotland so dont know the ins and outs. We tend to sell through solicitors up here so nowhere near that amount.

[3timesalady]

1.5% is a good rate - a very good rate, you won't find cheaper via a High St Agent I wouldn't have thought. However, we sold our 4 bed detached through Housenetwork.co.uk, an online agency & paid £1000 all in. Then an extra £500 for Solicitors (provided by them). Brilliant cost & a very very good service - only drawback is you have to do the viewings yourself but that's common anyway. Just a thought...!

[deste]

After watching the Mary Portas programe last night on estate agents I told her to ask their percentages. I did think that 1.5% was good. Did you get many viewers through that website or did you find it hard work also how long did it take for the sale to go through from sart to end. Did you sell in the Surrey area by the way.

[artyjools]

Well I am in Surrey and I think estate agents are falling over themselves to get our business at the moment. I told them I was prepared to pay 1% and three agents agreed to market it at that rate. Mind you, our house is more expensive, so they will get a good fee anyway. £6000 for a £200,000 flat - ridiculous!!!!!!! What are the other things? Surely the only things you pay an estate agent are the fee and VAT on the fee. Unless they want to charge you for putting it on Rightmove, or in the local press - and I have never come across that before.

[bagpusswasthebest]

We were in Hants, moving to Sussex, but they're national. We had lots & lots of viewings as everyone (literally everyone!) uses Rightmove & we had a Premier advert on there (highlights your property, bigger ad etc). We sold in 4 weeks and bearing in mind that was March last year, there were other 4 bed's for sale at the same time that didn't move til nearer christmas (it was a small village - everyone knew everyone). I was really very pleased! The sale was 9 weeks to completion but should have been 7 as it was delayed as the lady at the top of the chain was in a care home & needed p.o.a granting. Bear in mind that time taken from receiving an offer to completion is dependant on Solicitors not Agents. Housenetwork also did our HiP for us. We had Dean Fisher as our Agent - he's the Managing Director & we asked to have him placed as our Agent. You do pay up-front but at that price, it's a steal. I honestly wouldn't recommend them if I wasn't impressed. We've moved 4 times over the past 15yrs & I'd never ever use a High St Agent again. I've not heard good reports about another online agency (The Little House Company) but have rec'd House Network to others since & all good feedback so far. Hope that helps.

[SameOldJollster]

I got a rate of 0.8% selling my late father's house about 18 months ago (it was a higher value at 1.1m, but even so thought that was good). That was in leafy Essex.

Sold my house in Brighton last summer. Actually didn't choose the lowest fee agent as wasn't convinced he'd get the best price. So chose the one at 1.125% (got him down from 1.5 to 1.25 to 1.125). Full asking price offer within the week.

I think you have to be really ballsy with them (that's not my usual style). If you're not local to handle the sale yourself (as when I sold my dad's house) you are a little more reliant on them doing a great job, as you can't check up on them as much so it may be worth it to you to pay a bit more IYSWIM.

Good luck.

[deste]

I have told her to get in touch with the cheaper one although it is still a chain of estate agents and I have seen their signs all over the place. Do you think it is worth negotiating prices with them. I think because my DD is young they might have been pulling the wool over her eyes.

[SameOldJollster]

sorry deste didn't read your thread properly that it was your DD. Yes sadly they may be trying to take advantage, when I sold my first flat I was quite young and the agents definitely tried to underestimate me.

She should definitely play one off against another, and ask for their very best rate. Say she's narrowed it down to two agents but obviously wants to get the best deal possible, and see how they respond.

As I say you do sometimes have to consider which agent will get you the best price; in my case I went with the more assertive agent at a slightly higher rate, so as my sale price was higher my actual fee was lower IYSWIM.