22 Jan When cheap isn’t very cheerful
Estate agents’ fees for selling a property can vary wildly.
In many parts of central London 2.5 per cent is still the standard fee. However, I’ve seen agents locally advertising fees as low as 0.5% or even a flat rate of £995.
There is no way any agent doing their job properly can charge less than £1,000 and make money. They would have to cut more corners than a Grand Prix driver in several key areas just to break even or reduce their losses.
For a property to achieve its best price in the shortest possible period of time it needs to be well marketed. Online portals aren’t cheap, we spend over £2000 a month on Rightmove alone, nor are professionally designed marketing materials. However, the area where the vendor can get really short-changed by a ‘cheap’ fee is the level of personal service they receive.
When an agency bases its business on charging rock bottom fees there is no way they can attract the best level of staff because good people won’t work for low wages. The saying ‘if you pay peanuts you get monkeys’ springs to mind.
Remember, selling your home is probably one of the single biggest transactions you will make in your life. You want to get the best possible price for your property. The difference between a quick sale and a good sale could be thousands of pounds (or even tens of thousands).
At Robinson Reade we are flexible on our commission fees, to a point. We’re definitely not a ‘pile them high, sell them cheap’ agency, but we do understand it’s a competitive market and we always aim to be competitive.
One thing we never compromise on is our commitment to looking after your property needs as best we can.
Thanks for reading,
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