Estate agents fees??

[westhamtim]

Afternoon all

I'm looking to sell my flat (Canary Wharf area) and most agents seem to be coming in at 1.5% on the fees. Although I've never sold a property before this doesn't seem outrageous. However, searchign around on here / the net people suggest that 1% / 1.25% may be the going rate. Can anybody comment on what they would expect to pay?

Thanks in advance.

Cheers

Tim

[Jezza30]

Pay peanuts and get monkeys.
1.5 is the going rate for a decent agent. There are agents who will charge less but they are liable to lose interest fast when they don't sell and lose you valuable marketing time.

Edited by Jezza30 on Wednesday 27th January 13:06

[rah1888]

As Jezza says, if you wan the job done properly you need a half decent agent (there are a few out there!!) and most won't take the job for less than 1.5%.

[Peter101]

Just dont use fkstons, they are arrogant idiots and charge a huge rate. Had our flat in Camden on the market with them for months, hardly any viewings. We changed to a company called Bairstow eves, and after 2 good offers in the first week, we completed within 5 weeks.

[JQ]

As above, get an agent based on a recommendation. A good agent can get you £10k's more than a crap one. What's the point in saving £1k in fees if a better agent could have sold it for £15k more.

[edo]

Peter101 said:

Just dont use fkstons, they are arrogant idiots and charge a huge rate. Had our flat in Camden on the market with them for months, hardly any viewings. We changed to a company called Bairstow eves, and after 2 good offers in the first week, we completed within 5 weeks.

+1.

[A911DOM]

Advertise and sell it yourself and save the 1.whatever percent for a damn good housewarming party in the next one

[Hooty]

Understand what an agent does. Getting a buyer is actually the easiest part of the process. Everyone uses the internet to search for property and this usually means Rightmove. Nearly all agents use Rightmove so matching a buyer to a seller is the easy part.

The skills are :-

- Correct valuation of your house. This is not rocket science so don't overvalue this skill but make sure they get it right. All they will do is search what prices other houses have reached and what is / has been on the market. You can do this yourself too and likely just as well if you understand the market and how it is affected by the economy.

- Taking the best photos and making the best description.

- Portraying both on the internet in the best possible way (video, full screen high res pictures, floor plans etc.)

- Ensuring that a deal is negotiated.

- Ensuring that the deal goes through and the chain is kept intact.

Everything else is an add-on. These are the key skills. Costs range from £300 up to 2.5% plus VAT. You could try an internet agent and go multi-agent.

[littlegreenfairy]

Up here they are charging between 1 and 1.25%

Seems a bit of a bargain to me!

[Jezza30]

Peter101 said:

Just dont use fkstons, they are arrogant idiots and charge a huge rate. Had our flat in Camden on the market with them for months, hardly any viewings. We changed to a company called Bairstow eves, and after 2 good offers in the first week, we completed within 5 weeks.

First positive quote i have ever heard about the bare faced thieves!! You're right though the quality of agents varies tremendously.