EA fees, what is standard?

[TremoloGreen]

We are selling a large 2-bed, 2-reception garden flat in SE London (zone 3), probably will go on the market at 400k. It's in a good state of repair so I'm hoping it will sell quite easily. We're going to negotiate with our first choice EA this saturday, they've quoted us 1.5% with a bonus (to be negotiated) if they get the asking price. Our second choice agent said 1.5% but they have a huge monopoly in the area, and seem a bit more complacent, lots of things with them are reducing in price or taking ages to sell. Does this seem about right or should we shop around more? £7,200 (once VAT is added) just seems such a crazy amount. We won't be making money on this sale as the area we're buying in isn't cheap either. How shoukd we negotiate the best deal? New to selling if it isn't obvious!

Most recently we paid 1% or £2k whichever was the lower - EA had special offer. This was in south east about 3 years ago. Had a similar offer from an agent about 18 months ago too.
Have to recommend Housenetwork if you're willing to do your own viewings - have used them twice in past at cost of about £500 each time.
Last house sale and failed house sale we used high street agents - never again - you get nothing more for your money unless you count the generous quantities of BS and flannel.

We sold in commuter belt Surrey - 1% is easy to negotiate for around here.

I also paid 1% plus VAT in Surrey, local agent. And they ended up working hard for it.

SW London. All the agencies quoted 1.25% as standard. That was for a £550k house.

We're in Berkshire and 1% negotiationed fairly easily

We payed 0.65% and they were fantastic!

Sorry should have said this was in the south east this year

1% plus VAT in Hertfordshire, and we managed to get one (well respected) agent down to 0.75%.

Great, thanks all. I'm going to go in and play hardball for 1%!

Agents fees are usually negotiable.

Do bear in mind that the lower you manage to get their fee, the less work they will be inclined to do for you.

If you wanted to get things moving you could offer an incentivised fee. Eg. If you sell my property over x amount I will pay you 1.5% if you sell it at Less than y amount you get 1%.

I've done this several times. Works well. They really rush around for you. And get people through the door.

Plus it helps determine whether they have over valued your property just to get the instruction.

paid 1% in Bedfordshire i feel it is a lot of money for them doing very little next time (if there is one) I will do it myself.

Thank you all - I was successful, MrsFlorrick I went with your approach. They are coming in to take the photos on Thursday, can't wait to get on Rightmove now! Thanks.