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 Post subject: estate agents fees
PostPosted: Tue Feb 05, 2008 8:32 pm 
The Guv'nor
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...how much do they normally charge by percentage? what's a good rate?


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 Post subject:
PostPosted: Tue Feb 05, 2008 8:45 pm 
Mr Darcy
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On our last house up for £280k, I think we ended up at 1% sole agent.
Remember though that they will haggle - both on min term for sole agency and on fees. Don't get tied in for too long.

Seen anything nice?

That house you looked at is a bit of a money pit. They are not really going to make anything signifcant by doing it up. Its all that render you pulled off see.


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 Post subject:
PostPosted: Tue Feb 05, 2008 8:47 pm 
The Guv'nor
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yeah, seen something we like, not particulalry difinite though.

looking to get ours on the market.

seen conflicting advice regarding fees. will have to haggle 8)


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 Post subject:
PostPosted: Tue Feb 05, 2008 8:54 pm 
Mr Darcy
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also remember - they are all lazy b'stards and need chasing ALL the time. Very much a 'who shouts loudest' thing.


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 Post subject: Re: estate agents fees
PostPosted: Tue Feb 05, 2008 9:09 pm 
Retro Guru
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John wrote:
...how much do they normally charge by percentage? what's a good rate?



isnt pickle an estate agent?

could be the guy to ask.


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 Post subject:
PostPosted: Tue Feb 05, 2008 9:12 pm 
Mr Darcy
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*whistle* doop ee doo :oops:

And hes in my MM team :lol:


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 Post subject:
PostPosted: Tue Feb 05, 2008 9:25 pm 
East Midlands AEC
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lettings agent I think - different thing I believe!


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 Post subject:
PostPosted: Tue Feb 05, 2008 10:17 pm 
Gold Trader / PoTM Winner / RB Rider
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Buying and selling is the most stressfull thing ever . :evil:


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 Post subject: Re: estate agents fees
PostPosted: Wed Feb 06, 2008 3:30 pm 
Lincs AEC
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speedplay wrote:
isnt pickle an estate agent?

could be the guy to ask.


Yep, I'm an estate and letting agent :wink:

With most estate agents, you get what you pay for. So, a low fee normally equates to an average service.
Always best to go with an independent estate agent, not a big corporate who is owned by someone else. The corporates generally have targets to meet on business levels, so you would just end up being a small fish in a big pond to them. You may be able to drive a hard bargain on fees with them, but they will tie you in to a long sole agency period and within a few weeks loose interest in your house. With an independent you will get a more personal service as they will not be working to targets and have less costly overheads. Ok, you may pay a slightly higher fee with them, but it’ll be worth it.
Look for an agent who is a member of the National Association of Estate Agents, as they will be working to a strict code of conduct and practice. Look for the NAEA logo, as to be a member you have to pass strict examinations.
Fee wise, you will have 3 scales depending on whether you want sole agency (tied in with just the one agent), joint agency (2 agents) or multi agency (3 or more). Fees also depend on the service you want from your agent, and of course their policy on the new Home Information Pack legislation. Most agents will look for 12 minimum sole agency, but will not look for any ‘on top’ fees for additional advertising.
In my patch, fee structures are as follows. Sole, 1-1.95%, joint 1.95-2.95% and multi 3%+. Most agents offer the HIP within their fee, but can charge a withdrawal fee.
If you need any more advise, let me know.


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 Post subject:
PostPosted: Wed Feb 06, 2008 3:32 pm 
Lincs AEC
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gump wrote:
also remember - they are all lazy b'stards and need chasing ALL the time. Very much a 'who shouts loudest' thing.


(cough cough) Not all agents Mr Gump!


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