The internet generally suggests between 1.5% and 2.5% - anyone know what is happening these days regarding estate agent fees? Just want to be fore-armed before they infest our house at various points over the coming week to value the place 😉
Hi,
Haggle - ours is 1.2%. 1.5% is the most to pay, assuming sole agency. If they are keen and think they can make a quick sale you may get 1%.
Alternatively just put your hand in a bag of snakes - less chance of being bitten.
Marko
I think it depends on the area - competition. I sold my last one where 2% was the norm I think but an agent had heard that another was offering lower rates so offered me 1.5% even though the other agent had refused to go that low.... In the end I negotiated tiered rates so that they only got 1.5% if the house sold at the asking price and then dropped down in £10k steps by 0.1%. This was when houses were selling quickly though and they got their 1.5% and I was happy to pay it!
Interesting, a house sold fairly rapidly down our road recently so it may well be a quickie... 1% would be very handy I must say! Thanks both for your insight.
ps - I'll put an OT FS on the classifieds shortly 😉
+1 Haggle
Knock their fee for selling at his valuation figure, if he wants 1.5%+vat, offer 1%+vat and then agree 5%+vat on everything above. Obviously wait for the valuation first.
Also just sole agent.
I had an agent round today wanting a fixed fee of £2500 plus VAT which was 2.5%!
My reply was that I would pay £1500 and no more. They accepted without hesitation! Always negotiate with the barstewards - if they are confident they can sell it quickly they should be open to negotiations. If they aren't walk away IMHO.
1.5% IMHO
We've just paid £1500 fixed fee for selling ours, worked out at 1% in the end.
Had three valuations recently. All wanted 1.5%.
No doubt they will haggle, I expect I'll start at 1% and settle in the middle if they prove stubborn.
We got 1% (down from their 2% standard) but then our house required little work on their part and sold on the first day.
Haggle. I got fixed prices from my estate agent. I saved a fortune over the percentage route!!
I got a few in to look at ours. Fees ranged from 1.5% down to 0.75%.
Cheers all - very interesting (again) - I'm getting three of em in so will see what happens!
I've just paid 1.25% (Manchester)
Knight Frank quoted:
1.25% up to £6,000,000
1.50% from £6,000,001 - £6,500,000
2.00% from £6,500,001 - £7,000,000
3.00% from £7,000,001 - £7,500,000
3.50% from £7,500,001 - £8,000,000
4.00% from £8,000,001 - £8,500,000
4.50% from £8,500,001 - £9,000,000
5.00% from £9,000,001 - £9,500,000
5.50% from £9,500,001 - £10,000,000
6.00% from £10,000,001 - £10,500,000
Damn it, I'm *just* over the 4.5% threshold then 🙄