Estate Agents Fees

[The Tiggster]

What fees did you pay recently for selling your house? I am in a medium sized town in Scotland & will be charged 1.2% (property goes up for sale at weekend). Is that good?

They certainly seem switched on & most of their properties are being sold in less than 2 weeks, but are a bit more expensive than others, don't mind paying a little extra if we get quick sale.

Thanks

[Buenchico]

Most estate agents charge in the range 1% to 1.5%, so 1.2% sounds reasonable enough to me.

Having said that, though,you should always ask yourself whether you actually need to use an estate agent. I've only ever sold two houses but I didn't use an estate agent for either sale. It can save you a lot of money to do it yourself.

Chris

(PS: A recent TV programme said that UK estate agents are among the cheapest in the world. Apparently, those in New York typically charge around 6.5%!).

[sense4all]

In Bucks depending on how skillful a negiotiator you are you could pay anything from one to two and a half percent plus. Some estate agents will agreee to certain criteria being met ie four adverts and detailed floorplans bieng done, with a network of branches and good web sites, others have old bag on phone patrol ( she was too intimidating to be doctors receptionist - now she want's to know your grannies inside leg mesurement before you'll get the details you want!) but still expect top dollar for a poorer input. I think you did allright- but if it is a standard fee and you did not haggle,and are buying through the same agent tell them you want a reduction as they do not have to spend hours on the phone to themselves to monitor progress etc. They can only say no, do not be put off by the conventions of politeness. Live a little - haggle a lot! I paid over fifty grand less than the seller wanted for my house, but as I was the only one who was interested in taking it off their hands they had to compromise, or have no sale. They would have racked up huge charges on the property they were going to. It pays to ask questions.

A friend of ours when moving to a strange area where he was not confident of what was a reasonable price or offer ,employed a rival agent to negotiate the price down for him- on the place he chose - he paid him a hundred pounds for every thousand he saved him on the price. It was a win win for all parties!

[The Tiggster]

Thank you both, I don't feel too bad being charged 1.2%. I am buying from them too, so I might just try to haggle with them. I am in line for �250 of M&S vouchers (at M&S prices that'll be 2 ready made meals & a punnet of strawberries!) because I was referred to the Estate Agent via someone.

I had a call late last night from a friend who says her friend maybe interested in a look & if that is the case then I will keep her away from the Agent & do a private deal as it'll work out a lot cheaper due to paying no commission, only �260 to cover publications if I don't go ahead with a sale with them.

LOL at sense4all's statement about receptionist's - you must be at the same GP surgery as me!!

Thanks again.

[housemover]

Its 1.5% rock bottom in Devon!

[The Tiggster]

I am doing well then!

[www.des-res.]

You dont have to pay any fees. In Scotland they will also charge for photographs, advertising and so on and so forth + Vat. save yourself all this and look at www.Des-REs.org.uk. You get a qualified sales negotiator to look after you as well.
Don't worry if you have signed up with an agent as well, if its sold privately, you dont have to pay the agent.
(check with the office of fair traiding site).