Much much to pay an estate agent?

Much much to pay an estate agent?

Author
Discussion

TheBMWDriver

Original Poster:

591 posts

153 months

Sunday 24th August 2014
quotequote all
I want to sell up and move down to London, I had savills come over and expect to get £1 to £1.1m for my place but they are asking for 1.65% + VAT which in my view is too much.

So is it worth paying them to have this sort of name behind the markings of my property or just use a cheaper agent and offer them £2 to £4k?



Edited by TheBMWDriver on Sunday 24th August 23:45

jc84

129 posts

122 months

Sunday 24th August 2014
quotequote all
First world problems..

Mr Daytona

221 posts

115 months

Sunday 24th August 2014
quotequote all
Worst "I've got a £1 million pound house" thread ever.

itz_baseline

820 posts

220 months

Sunday 24th August 2014
quotequote all
Mr Daytona said:
Worst "I've got a £1 million pound house" thread ever.
Lol this. Your profile suggests you are already from London.

Suck it up.....even a cheaper estate agent wanting 1% will still be after £10k. I'm pretty sure no one will take it on at £2k.

Surely stamp duty on the next property you buy will be a bigger concern.

jonah35

3,940 posts

156 months

Sunday 24th August 2014
quotequote all
Negotiate a fixed fee or use house simple.

A £5k fee is enough imho.

KissMyRs

87 posts

175 months

Sunday 24th August 2014
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I've just sold a cheaper house, £350k at 1.15%+vat. Most Estate agents were similar at 1.5%+vat.

chrispmartha

15,360 posts

128 months

Sunday 24th August 2014
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Obviously this is the perfect place to ask a question like this :-) seriously if you really do own a &1million + property and you have to go I a motoring forum to ask advice, you've got issues.

billzeebub

3,862 posts

198 months

Sunday 24th August 2014
quotequote all
A structured fee where the Agents effort to achieve over their valuation minimum, rather than the minimum you will accept

TheBMWDriver

Original Poster:

591 posts

153 months

Sunday 24th August 2014
quotequote all
Mr Daytona said:
Worst "I've got a £1 million pound house" thread ever.
Actually its not, I never post here, no one knows me which is why I posted the question here in the first place. I only posted the value of the property because it relevant to the question.

itz_baseline said:
Lol this. Your profile suggests you are already from London.

Suck it up.....even a cheaper estate agent wanting 1% will still be after £10k. I'm pretty sure no one will take it on at £2k.

Surely stamp duty on the next property you buy will be a bigger concern.
I'm from London in that this is where I grew up and I do have a home down there. Stamp duty is a worry but the house prices are making me wonder if its worth waiting to see if the prices will come down. Its looking like I need to spend £1 to £1.2m to get a 90m2 flat in a good area.




Edited by TheBMWDriver on Monday 25th August 00:03

chrispmartha

15,360 posts

128 months

Sunday 24th August 2014
quotequote all
TheBMWDriver said:
I'm from London in that this is were I grew up and I do have a home down there. Stamp duty is a worry but the house prices are making me wonder if its worth waiting to see if the prices will come down. Its looking like I need to spend £1 to £1.2m to get a 90m2 flat in a good area.

Quite a piss take when you consider my place is 6 to 7 times this size for less money
Why are you posting on a motoring forum?

Edited to say. Get a grip, you seem to have a problem most people would give a limb for.

Edited by chrispmartha on Sunday 24th August 23:50

TheBMWDriver

Original Poster:

591 posts

153 months

Sunday 24th August 2014
quotequote all
chrispmartha said:
Obviously this is the perfect place to ask a question like this :-) seriously if you really do own a &1million + property and you have to go I a motoring forum to ask advice, you've got issues.
Actually I thought this is a good place to ask, there are many people here with money and could offer me some useful advice. I have only ever sold one house in the uk for £250k and the agent only took £1k for that so its not something I am experienced in.

billzeebub said:
A structured fee where the Agents effort to achieve over their valuation minimum, rather than the minimum you will accept
This was my first thought, going from 0.6% upto 1% but I dont know if any agents will accept this. To be honest people just use right move these days so I really am struggling to justify paying upto £20k to a agent.

TheBMWDriver

Original Poster:

591 posts

153 months

Monday 25th August 2014
quotequote all
chrispmartha said:
Why are you posting on a motoring forum?

Edited to say. Get a grip, you seem to have a problem most people would give a limb for.

Edited by chrispmartha on Sunday 24th August 23:50
Really what what the **** is wrong with you? I asked for advice here because its a General discussion forum. I am a member of PH because cars are a huge part of my life and I love everything about them. I dont post much but I spend a lot of time reading the forums (especially the Porsche forums).

yes I am lucky to have a nice place but I worked bloody hard and I am not going to throw money and thought that older wiser members could give me some advice.

lamboman100

1,445 posts

120 months

Monday 25th August 2014
quotequote all
Too many green-eyed Brits on PH.

For a £1m house, a £5 - 10k fee is more than enough. Negotiate hard with them for a flat fee, or switch to one of the online estate agents that are much more price-competitive.

dvs_dave

8,581 posts

224 months

Monday 25th August 2014
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You should have posted a question like this in the Homes, Gardens, and DIY section. Putting it in GG is asking for trouble...unfortunately.
http://www.pistonheads.com/gassing/forum.asp?h=...

Mr Daytona

221 posts

115 months

Monday 25th August 2014
quotequote all
"Green eyed Brits" ? Really ?

OP starts a thread on GG about how to sell a £1 million+ property and you think nobody is going to take the proverbial ? How about Brits with a sense of humour, something that the OP in his replies seems to singularly lack.

ging84

8,829 posts

145 months

Monday 25th August 2014
quotequote all
Mr Daytona said:
Worst "I've got a £1 million pound house" thread ever.
yes he refereed to it as a £1 house
my shoes are worth more than that
probably

DJP

1,198 posts

178 months

Monday 25th August 2014
quotequote all
Last time I sold a house, admittedly 10 years ago, the going rate was 1%.

Given the price rises since then, the fees should really have come down.

£1m houses are pretty much the norm in London. Do they really want £20k to sell one?

I'd have thought £5 - 10k is more like it.

petop

2,135 posts

165 months

Monday 25th August 2014
quotequote all
I just sold my house and moved into new one last Fri.....well i didnt, the other half did whilst i sit out here in Afghanistan so win-win for me!! For a 350k to a 465k house the Estate Agent charged 1%.

billzeebub

3,862 posts

198 months

Monday 25th August 2014
quotequote all
DJP said:
Last time I sold a house, admittedly 10 years ago, the going rate was 1%.

Given the price rises since then, the fees should really have come down.

£1m houses are pretty much the norm in London. Do they really want £20k to sell one?

I'd have thought £5 - 10k is more like it.
I worked in the game up town W8/W11 areas from 05-09, standard comission then was 2.5% sole agency and 3.25% multi. Dont think its changed much since

StuntmanMike

11,671 posts

150 months

Monday 25th August 2014
quotequote all
TheBMWDriver said:
I want to sell up and move down to London, I had savills come over and expect to get £1 to £1.1m for my place but they are asking for 1.65% + VAT which in my view is too much.

So is it worth paying them to have this sort of name behind the markings of my property or just use a cheaper agent and offer them £2 to £4k?



Edited by TheBMWDriver on Sunday 24th August 23:45
OP, how quickly so you want to sell? If you find the fees so distasteful you can advertise the property yourself.
If it is a desirable residence rather than a house worth that much because of the area then it will sell.
The last time I moved the whole estate agent experience was so bad I would never use one again.