Much much to pay an estate agent?

[TheBMWDriver]

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

[TheBMWDriver]

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

[TheBMWDriver]

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]

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.

[TheBMWDriver]

Thanks for the feedback everyone, its given me some food for thought. Its a very different property so its not going to be that easy to sell however if I find the right buyer its a bargain at 1m. The rebuild cost is around £1.2m and thats not including the cost of the land.

gaz1234 said:

The more money people have the more tighter they get.

I just dont get this way of thinking. I am not tight, however I come from a family that had nothing and I have managed to do ok for my self. I am in my early 30's so am not in a place where I can just throw away £20k just because I feel like it. Being sensible and careful with your money is not the same as being tight.

Or look at it another way, the £15+k saving would allow my to upgrade my old 991.2 to a 991? would you not say that worth a little extra time and effort to be able to afford my dream car?

[TheBMWDriver]

Chrisgr31 said:

The rebuild cost is of course not relevant to the value of a property. There are many reasons why properties may not be worth their rebuild cost. Its the same with improvements, very often they dont increase the value of the property by the amount they cost.

completely agree which is why my place is only worth what it is. It took me 4 years to build the place and we did it with the aim of living there not a investment (its a VERY bad investment) however after living here for the last few months I just hate being outside of a proper city.

I have lived in big cities all my life and just could not get accustomed to living in the country.

scenario8 said:

Just a little note to yourself that you have done significantly better than "ok" to have a property portfolio measured in comfortable seven figures terms (even if mildly leveraged) and a car ownership history as yours by your early 30s.

I truly hope that you didn't really need telling but so frequently Pistonheads seems to forget itself.

I'm curious about the unusual property now...

Thanks, the property is only unusual because of the size and spec for the location. Its 6400 sq ft (600m2) has 5.5m high ceiling in most rooms, 100k worth of bathrooms, 70k kitchen and everything is connected to a smart home system. I have jammed packed it with gadgets and toys.

Living room
http://i872.photobucket.com/albums/ab283/nastytoot...

Edited by TheBMWDriver on Monday 25th August 21:10

[TheBMWDriver]

gaz1234 said:

nice tv.

Thanks, I am a plasma fan boy so had to get one before they stopped making the 65".

What you can not see is that there are speakers inside the walls all around the room, they are all plastered in and painted over.
http://www.audioobsessions.com/stealth-acoustics.h...

[TheBMWDriver]

Sir Bagalot said:

What you mean is that you need to spend that to get a place in a fashionable area. Plenty of flats that size available in nice areas for much less.

This is very true, but we are young and have no kids so I would really like to try out some of the more central areas of london.

Sheepshanks said:

Shouldn't that be 'move up to London'?

We are in the midlands so its down in relation to where we are now.

[TheBMWDriver]

Thanks for everyones input, we seem to have gone Way off topic now so could a mod close the thread.

A local agent is willing to take a 1% fee which I would have thought was high but after reading peoples post here I have come around to the idea of paying up.

Its not a huge issue if it does not sell as we have a place in the south. I will post back if we manage to sell it and how much we get.

[TheBMWDriver]

Chrisgr31 said:

Is it on the market yet? Not seen it on Rightmove.

No not yet but I have some interest from a friend of a friend so I will see how that pans out before going to market.

[TheBMWDriver]

Hi, No I have not had time to put it on the market yet too busy messing around changing cars

I plan to do it soon.