What's a reasonable estate agent fee?

[MrsMerryHenry]

We're about to sign a contract to sell our east London property (value: about £180k) and they've suggested a sole agency fee of around £4500. This seems a huge amount to me, I know it's negotiable but as a starting point I think that's absurd. I had thought fees used to be around 1.5% - thoughts, anyone?

[Littlefish]

Our estate agent told us that it would be 1%. We have negotiated him down to 0.9%, but think we might be able to get it down further to 0.8%. We are in the Midlands.

[Deaglan]

as an agent myself I'd say its not unheard of and most agents expect to be bought down by a large amount before agreeing a commission - at the moment thats about 2.5% commission - I would negotiate that your house is smaller but should be easier to sell in this climate as people won't need a large deposit.

I'd stick to inclusive % comissions though and make sure that its of the completed price NOT the asking price

best of luck

[doglover]

1% here in the central south.