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House Price Crash Forum

Ea Fees + Comission

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Hi everyone, long time no posting. I've been, and will continue to rent for the time being but after various legal issues with ex, now has come the time to sell my property and I'm wondering about EA fees.

Seems the standard rate is £150-£200 registration that covers the setup and advertising then they want 1% of the selling price. Vision are offering £1140 which seems to be the lowest but I would not be surprised if there are hidden charges.

After adding everything up and adding vat its just under £2000 for a property of £140,000.

Doesn't seem to be much competition in the market and they are not exactly biting my arm off for the business.

Anyone know of any EA looking for easy money at a lower price?

Fundamentally all I really need is the Propertynews advert, why does that cost £2000?

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I used housenetwork.co.uk, fixed price 600 quid or so . Sold it (in the end, took a while but that was the market), all in all good service I thought and would use again. Only downside you need to do your own viewings but I didn't mind that so much. Take as long as you possibly can to do a 360 with an extended arm in a small room as if you're showing of acres of land . quite fun

edit: it's not bad to do your own viewings as alternatively you need often leave your house, and logistically more difficult which was my main reason I didn't mind it

Edited by thejaksie
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Vision came back with the lowest offer <£1000 all in, but unfortunately the ex seems to think that the that fact the more expensive EAs 'know the market' and therefore add more value. Of course they don't offer a higher price nor make any promises so I struggle to see this value or how 'knowing the market' helps them make a private sale. Do they know where a secret stash of buyers is hiding perhaps?

This is the same meaningless crp pedaled by the EAs when I phoned up for quotes.

thejaksie, did you sell a N.Ireland property in housenetwork.co.uk, it does seem to accept NI postcodes for agent search. I think we don't have any on-line sales access at the moment.

Still at the end of the day we can't access PN without them and need them to take the bids honestly.

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It's PN/PP that get the house sold, which agent it goes on with matters very little IMO.

But What a good agent will do is keep pressure on the buyer once a deal has been struck. It can be tricky enough to do this without an agent when dealing directly with the buyer, without offending him. An agent will act as a go between and firewall between you and the buyer, which can come In handy. I personally go with agents I think are sincere and approachable, as they are who the buyer will be dealing with.

Get a good solicitor on board too, one that won't let the paperwork sit at the bottom of a pile.

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pretty standard response on this forum to anything that doesn't condemn an agent or BTL'er.

Do you honestly think 100% of agents are not sincere or approachable?

From who's perspective? The Buyer?

Approachable perhaps, all salesmen have to be approachable. Sincere no. The fundamental transactional nature of the relationship makes it insincere (false, fake).

I don't condemn estate agents. I don't condemn used car sales people, I understand what they are trying to do. Sell something and make as much money from me as possible.

Edited by 2buyornot2buy
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pretty standard response on this forum to anything that doesn't condemn an agent or BTL'er.

Do you honestly think 100% of agents are not sincere or approachable?

I have bought and sold a number of times. When buying a house you think the EA is dishonest and taking you for a ride. When you are selling you see that they do a good job for you - as one might expect since they work for the seller.

Never paid 1%

The photos help to sell the house also - demand better quality.

It is a combination of marketing and keeping the pressure on the buyer once it is agreed.

Also, using and EA validates the price you are paying in the market.

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