ChatterBank1 min ago
Estate Agency Fees
Guys:
Would someone please tell me what commission I would be expected to pay to an estate agency for the sale of my property. I own a one bedroomed flat on the south coast of England valued in the region of �110,000.
Ideally, I would like to go multi-agency as I do not like to be tied down to one company.
Many thanks!
Scott :)
Answers
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For more on marking an answer as the "Best Answer", please visit our FAQ.As for multi agency they tend to charge a premium given there is the chance they could market the property and not get the sale. This is generally in the region of 3%.
However both are negotiable, if there are a lot of agents around play them off each other, but equally don't make the decision totally on who to go with based on 1. the commision rate and 2. the valuation they give. Go with somebody you feel comfortable with and do some research to make sure the valuation is fair (either up or down), you don't want to be in a situation where your house is priced too high and you forever chase the market down.
Usually, the more your house is worth, the lower you can negotiate. Try offering them 1% or say you are going to a different agent - this should work. Dont forget you have to pay VAT on top. If you want to go multi agency you would probably have to pay around 2% or more. Don't sign any contracts, they will still try to sell for you and then if you don't like the agent, you aren't tied.