A consumer’s guide to the range of estate agents’ prices they can expect to pay has been amended downwards.
The home moving site reallymoving.com had been quoting 1.5% to 4% – the source quoted by Emoov when it recently tweeted and blogged a similar range.
However, following a story on EYE yesterday, the site will now quote a range of below 1% and up to 3.5%.
Rob Houghton, CEO of reallymoving.com said: “Estate agent fees have undoubtedly come down in recent months and our customers are now typically paying 1%-1.5% for high street estate agent services across the UK.
“However, there are pockets, particularly in areas of lower property values, where sellers are still paying up to 4%.
“In Wallsend, Newcastle, for example, an agent contacted yesterday quoted a flat fee of £1,800 + VAT to sell a one-bedroom flat, although they did mention that the rate is negotiable.
“According to the Land Registry, there have been 353 property sales so far this year in Wallsend, 33 of which were under £54,000 in value and so could have incurred a rate of 4% or higher.
“Our guide to estate agents fees is intended to demonstrate the range of fees paid by home sellers up and down the country.
“While it’s still accurate that some sellers pay 4%, we expect this is a very small minority, so on reflection we have decided to amend the range in our guide to ‘below 1% up to 3.5%’.
“This better reflects the current high street estate agency market and guides sellers to a fair deal.”
Comments (5)
Or as Pee Bee said yesterday on the other thread eMoov actually charge between 6.56% and 9% on a sale at £35k !
And £1200 from an online agent once they added their add ons would probably be 2%. on a cheap house.
This is why people with houses worth under £150,000 are strange for using online model…
£1,200 plus the extra £300 odd you have to pay if you want to use your own cheaper solicitors…thats £1,500
Yet more misleading rubbish from these companies. The fee in question isnt 4% its £2160 including vat. There is a difference and to quote otherwise is divisive and manipulating.
Totally agree……our fee is often 1% inclusive (less for properties over £300,000) but for properties under £200,000 the percentage will go up, even though the actual amount will be less than £2,000.
There comes a point where you can’t do a proper full job for people (including marketing costs) for less than a base amount…range percentages are misleading, as people will think the 3.5% is over £10,000 on their £300,000 home.