Selecting the right local estate agents to work with is important to selling your home in the shortest time. However, the very process of selecting who to work with is never easy, with so many vying for your business. Often, sellers make their judgement on the lowest fees, but it is far more complicated than just the bottom line figure.
As a rule, the commission an estate agent will charge will be between 1% and 3% of the final selling price of the house. This figure will require VAT, presently at 20%, to be added too. However, if a seller is not happy with the commission, it should be negotiated. If an agent does not move on this, then it is probably best not to work with them,
What really affects the amount an agent will charge, is the exclusivity they get to the instruction. Choosing a sole agent will inevitably result in less commission being levied but it could prove a false economy. For those sellers lucky enough to be in a position with a strong property, it could be well worth have two of the best estate agents in the area, and negotiating hard regards fees.
One thing to certainly look out for in the contract if working with just one agent, is the mention of “sole selling rights”. This is different to having a sole agent, as it gives complete power to that agent to get paid no matter how it is sold. Therefore, should the property be advertised privately online or in the press, or simply sold as a recommendation through a friend, the agent is still entitled to their negotiated commission.
For sellers unsure of where to start their search for their agent, may we suggest a visit to us at Meet My Agent. An innovative site, we have contact details for all firms in the area and, with our estate agent reviews left by sellers just like you, you can really understand who offers the best chance of a quick and profitable sale