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Original poster

Estate Agent Fees

13 replies

NonnoMum · 02/05/2010 22:28

Now, I know it is a necessary evil, but what is the going rate for Estate Agents Fees as a percentage of sale price?

We're in South East England, and have a property worth between 250 and 500k. We have been quoted one and a quarter percent? :Is that the going rate these days. Last time we sold (over 5 years ago and smaller house) I think it was more like one per cent?

OP posts:
kittycat68 · 02/05/2010 22:44

thats a good rate most charge nearer 1.5 plus vat

cassell · 02/05/2010 22:54

Is that for sole agency or multi-agency? For sole agency I think anywhere between 1-2% is normal and for multi-agency between 2-3%

1.25% sounds pretty reasonable to me

Original poster
NonnoMum · 02/05/2010 22:59

Thank you ladies.

Sole agency. If you think that sounds OK, then great. Can't face getting someone else in. Having trouble keeping the place tidy as it is.

Did hear once that someone used to put her ironing basket in the car when viewers came round. Do you think I could do the same with DCs?

OP posts:
yomellamoHelly · 03/05/2010 08:28

We've just sold ours and the EA (who was excellent) charged 0.9-ish % (sole agency). Slight reduction because we bought the house from them 7.5 years ago. (Would have been around 1.25 % - £4k was quoted by two other EAs so roughly same as those.)
So I think it might be worth bargaining over if you'renot too embarrassed.
FWIW our house went on for £335k. The EA is £3k. (Moving first week July I hope.)

purepurple · 03/05/2010 08:43

We are in the NW and our fee is 1% and no VAT, but the house has been on the market since 2008, the wrong time to sell a house. Finally got the offer we wanted at the weekend.
We did look at changing agents but the new one wanted 1.5% plus VAT.

theyoungvisiter · 03/05/2010 08:51

We are London and looking into selling at the moment and have been quoted between 1 and 1.5% plus VAT. We are in your price bracket also.

So I think 1.25 is fair, going by our area.

Rates tend to be lower in better times when they don't have to do as much to sell the house. In harder to shift periods the rates seem to go up - I presume because they have to sustain their overheads on fewer sales.

Also do look at what they're offering, what are their details like, is their office in a good central location with lots of traffic, are they on all the websites, is the HIP included, and finally of course whether your property is a good match for their list. All that can be much more important than half a percent.

LynetteScavo · 03/05/2010 08:56

lol at putting your DC in the car...I used to do this...then have a mad dash round picking up toys, and then drive off so we weren't at home during viewings.

Around here it's 1.25 -2%, but you have to see what you are getting for your money, which papers your house will be advertised in, how many websites it will be on, and the location of the office which will be marketing your house.
personally I think it's worth paying an extra 0.25% if they are actually going to sell your house.

Eaglebird · 03/05/2010 22:02

Agent quoted us 1.25 % fees, but I haggled and got the fee reduced to around 1%.
Shy girls get nowt

moomaa · 03/05/2010 22:07

We have just sold (South East) and were quoted 1%, 1.4% and 1.25%. I think the 1% are really struggling, wouldn't surprise me if they go under. My friend also just had quotes and one for a new agency was 0.7% as they were keen to established.

Original poster
NonnoMum · 03/05/2010 23:03

Think I need to go back to the Agents who sold our old house five years ago.

And insist they do it FOR FREE!

Not shy now, am I?

But I'd still have to tidy up.

OP posts:
Housemum · 08/05/2010 13:16

How old's DC? I throw my 7yo daughter in the garden to play (and the 2 year old as well) Keeps the noise down indoors so the potential buyer can concentrate!

Fees - we went with a small local agent who only charged 1% but we have really had to kick their butts to get them to generate viewings. (We're North Hampshire so sort of South East) Mann were originally insisting no less than 2% but we managed to beat them down to 1.5% if we decide to change agents (though hope will have sold by then)

Original poster
NonnoMum · 09/05/2010 23:22

9 months, 2, 5 and 18 (DSS who came for 2 years and hasn't left - in the meantime his mum has moved to a smaller house so he can't return there!!!).

Guess the messiest?

OP posts:
Housemum · 10/05/2010 10:10

Easy to guess - it's the 17yo DD1 in our house! (Most viewings are weekends so she's out working anyway, but in the few hours after college each evening it's amazing how much mess she can create)

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