ESTATE AGENTS FEES EXPLAINED

18/05/2020

 

 

Estate agent fees and those contract terms.

Can you honestly say that once your sale was concluded that the money you paid your Estate agent was value for money? Do you really know what Estate Agents do? For a long time we have sat back and watched as the Estate Agents market place has grown and changed, but what we have noticed is that most have simply increased their stock and percentages relating to the commissions they will earn for what is a fairly straight forward process. 

 

So what were you last charged or quoted by an Estate Agent? Did you go with the cheapest or was it what they offered by way of the exposure to sell your property quickly? What about that 12 week sole agency agreement you may have signed? Did you go with a High street Estate Agent or an Online Estate Agent?

 

 

Most Estate agents will charge a fee based on a percentage of the price your home sells for. This can vary between  0.5% and 3.0%+VAT depending on the type of contract you opt for with them. According to The Advisory, the most recent figures put the average estate agent fee for a sole agency contract at 1.18%+VAT. So including VAT that’s 1.42%. That means if your home sells for £275,000 and you agree to this fee, you’ll be paying the agent a WHOPPING  £3,905.

 

Most Estate Agents will not want you to know that in reality selling a property is as easy as selling a Motor home, Caravan or Car. Here at Smiths Group Estate Agents the BIG DIFFERENCE is that we can do this from as little as £99.00 and given the above example this is a saving of £3806. Think for a moment what you could have done with that extra money?

 

We want to build upon our reputation for providing a quality Estate Agents support service, but without the huge cost and contractual terms being attached.


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