Estate Agent fees - what is everyone paying?

Post Reply
User avatar
Simon
Posts: 5220
Joined: Wed Apr 11, 2018 4:03 pm

Estate Agent fees - what is everyone paying?

Post by Simon »

Started the process yesterday as we've started our search for our next place - likely our forever home at this point.

Got the agent round that we bought the house through 7 years ago. They quoted 1.25% + Vat. That feels a lot. Nearly £8k when we've a very popular house to sell on one of the estates most desirable roads. Apparently some other local agents are doing fixed fee.

What has anyone paid recently? Jobbo?
The artist formerly known as _Who_
User avatar
Sundayjumper
Posts: 7497
Joined: Wed Apr 11, 2018 4:04 pm
Currently Driving: Peugeot 406 replica, taxi, tractor

Re: Estate Agent fees - what is everyone paying?

Post by Sundayjumper »

It’s a while since I’ve sold but I was going to say 1%.

I used purple bricks back then. They were very good but the conveyancers they pressure you into using were DIRE. Premier Property Lawyers.
User avatar
mik
Posts: 13435
Joined: Wed Apr 11, 2018 6:15 pm

Re: Estate Agent fees - what is everyone paying?

Post by mik »

A few years ago now, and the system is different in Jockland, but at the last sale we were offered a sliding scale, 0.85% (+VAT) for anything upto £x, 1.0% (+VAT) for anything between £x and £y, and 1.15% (+VAT) for anything above £y.
8Ball
Posts: 46
Joined: Wed Apr 11, 2018 5:39 pm

Re: Estate Agent fees - what is everyone paying?

Post by 8Ball »

We're paying 0.75% here (Hove) for our sale that's going through at the moment. Some were asking for 1%+vat, but were willing to haggle when they knew someone else was cheaper, and like you we have what should be a desirable house for the area
User avatar
Gavster
Posts: 3485
Joined: Mon Jul 26, 2021 11:31 am
Currently Driving: A washing machine with heated seats

Re: Estate Agent fees - what is everyone paying?

Post by Gavster »

mik wrote: Tue Oct 29, 2024 8:14 am A few years ago now, and the system is different in Jockland, but at the last sale we were offered a sliding scale, 0.85% (+VAT) for anything upto £x, 1.0% (+VAT) for anything between £x and £y, and 1.15% (+VAT) for anything above £y.
I did that with the last place I sold, I gave the agents a sliding scale so they got more commission as the sale price went up. Not sure it was actually a good idea in the end as I suspect (but can't prove) that the agents made up some offers to try and push the real buyers offers up.
User avatar
dinny_g
Posts: 6122
Joined: Wed Apr 11, 2018 4:31 pm

Re: Estate Agent fees - what is everyone paying?

Post by dinny_g »

I think we paid about 0.75% but on a much lower sale price than yours Simon, the Cash amount didn't seem so bad.

But our guy was worth every penny. He even got directly involved in our purchase, personally contacting the person we were buying off with advice to keep the whole chain moving. Multiple times.

On the other hand, the person we were buying off used Purple Bricks and while you might save some money, you'll sure as hell piss off the people you're selling to. They get paid once they've ticked off various items after the offer is accepted (Not completion etc) and our experience was that they are bullish to the point of insulting to get that list cleared.

We had our offer accepted and less than 45 minutes later, Purple Bricks were on the phone demanding proof of our mortgage or else our offer would be rejected. "We had 24 hours" etc.
JLv3.0 wrote: Thu Jun 21, 2018 4:26 pm I say this rarely Dave, but listen to Dinny because he's right.
Rich B wrote: Thu Jun 02, 2022 1:57 pm but Dinny was right…
User avatar
Jobbo
Posts: 11054
Joined: Wed Apr 11, 2018 4:20 pm
Currently Driving: Gentle hands

Re: Estate Agent fees - what is everyone paying?

Post by Jobbo »

Didn't pay any on sale of our old house - mentioned in the village Whatsapp group that we were planning to sell and we had quite a few people contact us and sold privately to someone who never thought he was going to have the chance to buy in the village he grew up in. But that's unusual.

Sold my cottage using an agent and paid 1%+VAT. I think that's standard; getting it for lower is cheap and paying more is expensive.
User avatar
dinny_g
Posts: 6122
Joined: Wed Apr 11, 2018 4:31 pm

Re: Estate Agent fees - what is everyone paying?

Post by dinny_g »

Jobbo wrote: Tue Oct 29, 2024 9:19 am Didn't pay any on sale of our old house - mentioned in the village Whatsapp group that we were planning to sell and we had quite a few people contact us and sold privately to someone who never thought he was going to have the chance to buy in the village he grew up in. But that's unusual.
on multiple levels, that's pretty cool...
JLv3.0 wrote: Thu Jun 21, 2018 4:26 pm I say this rarely Dave, but listen to Dinny because he's right.
Rich B wrote: Thu Jun 02, 2022 1:57 pm but Dinny was right…
User avatar
Jobbo
Posts: 11054
Joined: Wed Apr 11, 2018 4:20 pm
Currently Driving: Gentle hands

Re: Estate Agent fees - what is everyone paying?

Post by Jobbo »

We thought it was good not to be too greedy, to sell to someone who was clearly committed and we saved quite a few thousand in agents' fees. Probably helped that I was going my own conveyancing as well so I knew what was going on :laugh:
User avatar
Simon
Posts: 5220
Joined: Wed Apr 11, 2018 4:03 pm

Re: Estate Agent fees - what is everyone paying?

Post by Simon »

This is all useful, thanks everyone.

Funnily enough our next door neighbour collared us a couple of months ago and said to let him know if we were ever selling. He wants it for 'his pension'. TBH if rather it go to a young family and the agent the orher day said he'd put together a canvassing campaign to find a house in one of the few roads we want to buy.
The artist formerly known as _Who_
User avatar
MikeHunt
Posts: 870
Joined: Fri Apr 13, 2018 11:34 am

Re: Estate Agent fees - what is everyone paying?

Post by MikeHunt »

A friend of mine paid £1200 up front for photos and video, it was top quality to be fair.
User avatar
GG.
Posts: 5283
Joined: Wed Apr 11, 2018 4:16 pm

Re: Estate Agent fees - what is everyone paying?

Post by GG. »

Concur with the experience of others above - often the ask is higher but agents will accept 1% which seems to have become the norm, at least for regular agents.
User avatar
Pete_
Posts: 637
Joined: Wed Apr 11, 2018 6:35 pm

Re: Estate Agent fees - what is everyone paying?

Post by Pete_ »

I'm looking to sell the apartment that I used to live in, which I've been renting out since moving to London.
Was quoted 0.85%+VAT plus £250 for photos etc. This was by the agency that have been managing the rental for me, they say that for this reason they're giving me a discount from their normal charge of 1%+VAT plus an additional £300 for preparing the conveyancing pack.
I'm also thinking of approaching the current tenant directly to see if he'd be interested in buying as he's been living there for three years already and has one year of tenancy remaining. Anything I should know about selling without using the agency?
Last edited by Pete_ on Wed Oct 30, 2024 10:02 am, edited 1 time in total.
User avatar
MikeHunt
Posts: 870
Joined: Fri Apr 13, 2018 11:34 am

Re: Estate Agent fees - what is everyone paying?

Post by MikeHunt »

Pete_ wrote: Wed Oct 30, 2024 8:30 am Anything I should know about selling without using the agency?
One a sale has been agreed, a good agent can make the difference. There are a lot of bad agents sadly, I can think of multiple house moves where being in direct contact with buyers/sellers was the reason things didnt fall through.

Depending on the location, you may have a bidding war for your flat and end up paying 1% of a bigger amount.
User avatar
Jobbo
Posts: 11054
Joined: Wed Apr 11, 2018 4:20 pm
Currently Driving: Gentle hands

Re: Estate Agent fees - what is everyone paying?

Post by Jobbo »

What Mike said - an agent can make a difference at making the deal happen. Many are also rubbish.

One particular thing to be aware of Pete; it is common to see an innocuous clause in a management agreement which gives the managing agent a fee if you sell to the tenant so watch out that you aren't caught by that anyway.
User avatar
dinny_g
Posts: 6122
Joined: Wed Apr 11, 2018 4:31 pm

Re: Estate Agent fees - what is everyone paying?

Post by dinny_g »

@Pete - were you in the Northampton / Wellingborough area ??

I seem to recall that but my memory isn't what it used to be
JLv3.0 wrote: Thu Jun 21, 2018 4:26 pm I say this rarely Dave, but listen to Dinny because he's right.
Rich B wrote: Thu Jun 02, 2022 1:57 pm but Dinny was right…
V8Granite
Posts: 4903
Joined: Fri Apr 13, 2018 11:57 am

Re: Estate Agent fees - what is everyone paying?

Post by V8Granite »

Pete_ wrote: Wed Oct 30, 2024 8:30 am I'm looking to sell the apartment that I used to live in, which I've been renting out since moving to London.
Was quoted 0.85%+VAT plus £250 for photos etc. This was by the agency that have been managing the rental for me, they say that for this reason they're giving me a discount from their normal charge of 1%+VAT plus an additional £300 for preparing the conveyancing pack.
I'm also thinking of approaching the current tenant directly to see if he'd be interested in buying as he's been living there for three years already and has one year of tenancy remaining. Anything I should know about selling without using the agency?
Just get a lawyer and job jobbed, we had handover yesterday and it was a very smooth process. The only holdup was the management company being crap.

Dave!
Post Reply