Savills or a local agent? Huge fee difference!

[WoodlandWalks123]

Hi all
We are selling up in the NE London area. Savills have quoted 1.1% which means £19,140 incl VAT for fees (assuming we sell at the advertised price) and local agent £8,400 including VAT. Our property is targeting a higher price point - would Savills attract a wealthier clientele rather than a local agent? I like both of the actual individuals who would be acting at Savills and the local agent, and the local agent sold our last house and has a good presence in the immediate locality (but probably isn’t quite so “high end” but does sell high value properties as well as lower ones. Do people just look for what’s on sale on Rightmove rather than worrying about who is marketing it. Or is there a value add in using Savills? 10k difference seems so much and we could really use that cash!! Advice much appreciated x

Surely they'll both advertise on Rightmove and the like? I imagine that's where must people start looking.

Sounds like both of them are taking the piss.

Not 100% sure but I don’t think Savills use Rightmove.

Local agent would be better unless it is like £5m plus which it's not with those fees. They know the schools the local shops and will be much more helpful. Unless of course you have local Savills who will also have that knowledge.

Of course it is. Unless they are looking for a stately home or the like when they might go straight to a top end agency. Most people don't visit an estate agent anymore. Straight to the internet.

www.rightmove.co.uk/property-for-sale/find/Savills/Country-Department.html?locationIdentifier=BRANCH%5E48982&includeSSTC=true&_includeSSTC=on

They definitely do.

Local agent all the way! But I'm biased, running an independent agent.

Put your money in to a local business, and not in the direction of Savills shareholders.

Savills are much more likely to have clients waiting for a higher end property to come up & be proactive about contacting them in advance I'd a Rightmove listing than a local agent.

However, at your price point, I think most buyers will still be looking at Rightmove anyway, so if you're not in a huge hurry to sell I'd go with the local agent, unless you have a reason you need to sell superfast Seville's is an unnecessary expense IMO.

Savills are much more likely to have clients waiting for a higher end property to come up & be proactive about contacting them in advance I'd a Rightmove listing than a local agent

Obviously it depends somewhat on precise area, but price level of circa £1.5m isn't hugely high end for a NE London postcode, in a number of areas it's just what a Victorian mid-terrace costs.

Negotiate down and whoever goes lowest gets it. Ask for 14 day notice so you can switch if necessary. Nothing is definite.

if you think your house might sell to an international client or to someone who seriously values privacy (i.e. wants a house that was never on rightmove so no floor plans or photos on the internet) then it might be worth going for Savills.

but if your house is comparable to others on rightmove and is likely to sell via that route, then go with the local agent. Savills will always claim to have an 'exclusive list of buyers' etc but it is 99% rubbish. at under £5million, the local agent is fine.

You can always negotiate the rate. I’ve not sole on a market like this but every other time we’ve negotiated and got a reduction in rate.

just say to Savils that you like them but x estate agent is offering y rate and ask them if there is anything they can do.

Sorry. Wrong assumption. I looked for a Savills property on Rightmove recently and it wasn’t on there🤷‍♀️

Thanks all - very helpful. So seems the general consensus is to go local. PPs are right, it’s valued at £1.5m which around here is the standard price for a nice detached 4 bed house but still at the upper end compared to the rest of the housing stock in immediate locality (much not detached). We are technically just outside London (by a few hundred metres!). House will appeal to a local buyer or perhaps someone who is moving out further from London and wants suburbs etc - but I would think they will use Rightmove. It’s just the “after viewing” process that I’m not sure about - Savills feels very slick and the particular agent is very presentable and knows her stuff (might encourage people to part with their cash at asking price more easily!), but the local agent is fab in their own way and knows the market probably even better, just is a bit more “rough and ready” and I’m not sure would go to quite the same lengths to negotiate etc.

I’ve already negotiated rates down with both but I’m going to email Savills and say just this and see if any further room for manoeuvre but suspect it will be a no…

I have found slick to be pushy and wanting to close the sale at any price. Often felt slick (not Savills) isn’t acting in my interests and just wants the house off his books as soon as. Trust your instincts.

Having bought a house with savills I would recommend not using them. They were incredibly snooty, discouraging and unhelpful.

@Wheretheskyisblue thank you for sharing, first hand experience is exactly what I’m after!

Serious househunters (in UK, and abroad) will follow the websites of ALL local agents in their target area., be on their mailing lists for updates, read local property papers, and do online searches . Online searches will turn up anything Savills are selling in that area.

You can check  if your local agent  advertises and sells  plenty of property  in your price bracket,    on their website,  in their shop window, and watching their sale-boards .  Sold sign= success.  Note how long  that band of properties stays on the market  (dates on website ad;  local for sale boards,  seasonal photos).

Of course agents will always " name their price" but its not written in stone you don't have to accept it ; a different percentage rate, and include/exclude other services are all negotiable before they get the contract. Those negotiations are a useful start for relations with the agency.

I prefer to conduct all viewings myself, without the agent present, and always negotiate a fee reduction because it saves the agent a lot of staff time and expense.

I have twice used a local EA. They are hungry, they know the area back to front and I highly recommend. Do you want to give the sale to Savills if they were the same price as the local one?

Are they far apart in valuation?

Given the appx listing price I'd go local agent

I sold a property recently with Savills and they were very good. I also managed to negotiate their rate down. But when a friend was selling via another branch, they refused to budge on their rate. So it does depend on what the branch and price point is, I think.

Have both agents sold properties like yours recently and did they achieve the asking price? Try to get that info from them. Also see if you can ask on a local FB forum for opinions. It’s not just about the price and the viewings. Making the deal happen also requires a lot of work by the agent in some cases.

I would agree with MoveLike. I heard a friend of mine say once. 'well the EA didnt do very much - they just found a buyer'!

Buying and selling houses for some is a national pastime. People think they know how much their own house is worth and often state they sold it very very easily. Tin hat at the ready but I think people dont want to appear silly so they say their house went in a flash and there were multiple offers etc etc.
Not according to Right Move - some houses do stick and when people dont have a compelling reason to move they stay put and make daft statements like we will wait until we get the PRICE WE WANT. Or they state they must get xxx price because the next house requires it as if a complete stranger would take that into account.

There are people who are fibbers and downright liars on both sides. Its hard enough with out people pretending they have a mortgage, will go into rental etc etc.

My view is that once the buyer starts spending some of their own money you know its on track. Not definite but a start. Until then there are such time wasters. There is another thread where someone is complaining that they cannot see a dream house because their own house isnt on the market. Of course they are saying their current house will go quickly should they put in up for sale.....

Dont get me started on the people who wait and think they can second guess the housing market with no experience in doing any such thing.

We sold a few years ago and we had a family of 12 who wanted to see it. Main family, 4 kids and then Granny, MIL etc. I refused. From a security point of view the agent cannot be everywhere and the kids running around and poking the dog (yes we did have that with another viewing) just wasnt worthwhile. I said they could come in groups of 4. Needless to say the EA didnt hear anything back.

I would go for whomever you think is going to sell it for you. I do like local EA's. I think they work harder and the churn of staff is less. But a good branch of a chain is good too. My Father had a rottweiler of an agent for his house which was exactly right for the sale. It was a house in a terrible state but in a very nice part of London. Agent qualified and qualified the viewings and refused the nosey and tyre kickers as he said he just didnt have time to indulge them.