Reply to: Negotiate estate agent fees?

[d000hg]

Well after a lot of hoo-hah I've engaged an agent. It turns out in that neck of the woods all the agents have 1.5% (+VAT) as their standard rate. Except the ones who have 2%... seems to be a bit of a cartel closed market.

Even playing them off against each other the lowest I could get was 1.25%. Granted I'm not the world's best negotiator but hey ho, better than nothing.

I was very tempted to try Purple Bricks, if I was living in the house I think I'd have gone that route for sure. But I figure if a more experienced agent with their ear to the ground (people still go into agents' shops in Cornwall) can get me a higher price, it's worth the fee and the lack of hassle.

[Willapp]

It is so much nicer seeing the house from the owners because you just ask them questions and they don't just stand in every room and tell you "this is a wonderful room".

Agreed and when selling I prefer to do viewings myself anyway so I'm there to give straight, honest and accurate answers to any questions the buyer might have. As you say agents will just pay lip service to the buyer, pointing out all the "fantastic" aspects of the house which either aren't really that fantastic ("wow look at the level of light in this room, it's so airy!") or are blindingly obvious, "what a great size master bedroom" - yeah I know we saw it on the floor plan, that's why we're here...

I think it's BS that buyers are more honest when the owners aren't around - I've never been more inclined to speak openly in front of an agent than I would a seller. There's nothing worse from a sellers perspective to have people be really positive to your face then you find out from the agent that they aren't interested and reel off a list of reasons why the house isn't suitable.

[d000hg]

It is so much nicer seeing the house from the owners because you just ask them questions and they don't just stand in every room and tell you "this is a wonderful room".

[unemployed]

Agree - but you have to do the viewings/progress chasing etc yourself as purple bricks will do the bare minimum, given the nature of their business model (no commission / low fixed price fee).

That's easy enough, I prefer to do the viewings when I sold a place.

Means I can BS more

[kaiser78]

Just use purple bricks

Like you say it ends up on rightmove anyway.

Agent is irrelevant nowadays.

Agree - but you have to do the viewings/progress chasing etc yourself as purple bricks will do the bare minimum, given the nature of their business model (no commission / low fixed price fee).

[Willapp]

One nice thing I saw about emoov (and probably purplebricks) is they even let you choose the photos to use online and veto ones you don't like. Feeling more involved and having more control is certainly a nice idea, I wonder when the regular agents will start doing this. Maybe I should be approaching big chains to sell them such a platform...

When we sold our old property, the agent photos were so misleading due to the extreme wide-angle lens (they all seem to use) so after a few failed viewings I took my own photos with a decent camera (still wide-angle but not as extreme) and made the agent update RightMove with my photos instead. We sold the house within the next couple of viewings.

Point being that I would hope any estate agent would allow you to veto any photos that you felt were not an accurate portrayal of your property and, if necessary, let you supply your own. Yes they have 'experience' taking the best pictures but there's no point putting photos online that you know people are going to be disappointed about when they see your house is nothing like that in real life.

[barrydidit]

I'd second the Purple Bricks type approach, assuming you're selling something standard. Getting the place on rightmove is key for a normal buying situation. I'd also make sure, whoever you use, to spell check the advert text and check the photos before they're live. Oh, and I wouldn't consider a firm which didn't produce a floor plan - checking what's on rightmove or zoopla should give you an idea of the amount of effort different firms are making.

[SouthernManc78]

emoov don't appear to do viewings but PurpleBricks will - I assume for an additional fee though I couldn't see how much.

One thing that's unclear is if these companies only bill you when it's sold, or if you pay them regardless of the outcome.

In my experience you pay them upfront a one off fee regardless but it's obviously a lot cheaper that estate agent fees so depends on how confident you are of a sale I guess.

[d000hg]

emoov don't appear to do viewings but PurpleBricks will - I assume for an additional fee though I couldn't see how much.

One thing that's unclear is if these companies only bill you when it's sold, or if you pay them regardless of the outcome.

[RetSet]

Another thing to look at is what their exclusivity / sole agency period is.

And make sure it's Sole Agency, NOT Sole Selling Rights.

[DallasDad]

You set the house price on advice from multiple agents plus a bit of local googling
So you should certainly negotiate the fee.

The cost should reflect the service but rarely does:
Are you showing the property or the agent?
Are you handing over the keys for them to get on with it or will it all be via appointment with you or family present?
Agents are pushy barstewards and so are the sic professional viewers that love to turn up atd silly times - yes people do it as a hobby including nosey neighbours!
Who is staging the property you or the agent?
Agree sole agency for a limited amount of time 4 -6 week max.
Bare in mind if the property is good they may not even need to do anything even produce the basics details
I sold my first house via an agent like that, they effectively didn't have to do anything other than make one phone call and then invoice! Still cost me £600 back in 1979

They can be absolute pains or real gems when a Chain is involved I have lost two sales through agent stupidity typically being too pushy.

It is also still odd that an Agent takes thousands for doing very little yet the person doing the real work i.e the conveyancing solicitor is often on a lot less.

Do you have any Action Cameras?
If the viewing is supposed to be escorted (allegedly) then it is worth setting them up in your home to record viewings, you will get a mix of good and bad comments which can help stage a property and you may pick up the odd tea leaf.

[SouthernManc78]

Last time I sold my house I used House Network which are similar to Purple Bricks. The house was advertised on Rightmove and Zoopla as part of the package price, they handled the enquiries and we did the viewings. The local estate agents in Manchester I talked to didn't do the viewings anyway so I didn't really see what we were paying them for other than to advertise on the above websites. Saved us a few grand in fees

[unemployed]

One nice thing I saw about emoov (and probably purplebricks) is they even let you choose the photos to use online and veto ones you don't like. Feeling more involved and having more control is certainly a nice idea, I wonder when the regular agents will start doing this. Maybe I should be approaching big chains to sell them such a platform...

While you're at it get them to send the agent too when doing viewings

[d000hg]

Also don't be suckered in to using solicitors, surveyors and mortgage brokers promoted by the agents - they will invariably be on commission for referring business and it's doubtful these companies will be much cop. Better to get personal recommendations from friends etc. and choose your own independent companies.

I'm not sure if this is common knowledge but yes absolutely, unless you have heard their guy IS good from other people.

Just use purple bricks

Like you say it ends up on rightmove anyway.

Agent is irrelevant nowadays.

I'm tempted. Only worry is that buyers might be put off seeing an agent they never heard of - local buyers know who the main agencies are.

One nice thing I saw about emoov (and probably purplebricks) is they even let you choose the photos to use online and veto ones you don't like. Feeling more involved and having more control is certainly a nice idea, I wonder when the regular agents will start doing this. Maybe I should be approaching big chains to sell them such a platform...

[unemployed]

Just use purple bricks

Like you say it ends up on rightmove anyway.

Agent is irrelevant nowadays.