Selling a house advice required

[The Great Cornholio]

We've decided to move back to Eastbourne and will be visiting Estate Agents to get a valuation soon. But as a previous first time buyer, I'm not too sure what is a good deal - Estate Agent wise.

Anybody got a rough idea of what I should be looking to pay on a house worth approx £160000? Should it be 1%, 1.5% or more?

Any help gratefully received.

 

[Starry]

Our house sale just fell through today *sigh* for the second time in 5 weeks.

The offer we accepted was £365K and the agents fees were 1.5%. I am not sure how it compares, I just went with the firs estate agents I found.

 

[Dr Schnell]

Doesn't it depend on whether you agree exclusivity with them?

 

[The Great Cornholio]

Doesn't it depend on whether you agree exclusivity with them?

Yes it does. I'm happy with exclusivity - I just want to pay as little as possible!

 

[Simster]

We went for a fixed price with Haart. They were expensive, but excellent. I'd be more concerned with screwing down a decent price with the estate agent only if you're selling a house that a monkey could sell. Otherwise, pay more attention to what they say - how they are going to market your house and that sort of thing.

Our house is right opposite a train line and that puts off half our potential buyers. We didn't want to show people round or be bothered with people who saw the railway line and immediately decided they were against it. Haart were excellent with their marketing and with taking the strain of viewings - but as I say they were expensive.

And funnily enough, we've just exchanged today! Yeeeeyyy!

 

[Simster]

Doesn't it depend on whether you agree exclusivity with them?

The joint option is not only more expensive, it is also usually counterproductive. The problem is that the agents will agree something like a 60/40 split - with 40% going to the agent who doesn't make the sale. Consequently you end up with two agents sitting on their arses doing sod all, knowing that they will more than likely end up with 40% for doing nothing. This is exactly what happened to my mother in law last year.

 

[kalinski]

1% is very good 1.5% is the max you should go for

 

[The Oldman]

1% excellent 1.5% good but I'd sooner pay 2% as top whack to an estate agent that will get me a sale. That's what I did when we moved back to Sussex. Deal done and moved after 7 weeks.
Best of Luck

 

[brisgull]

When I sold my flat, I got three agents round (pain in the bum I know) but I was glad I did. The variation in the marketing price was about £15,000 and their fees varied from 1.5% to 3%.

I went for the agent who made me feel most comfortable as I was a single girly and not really sure about housing stuff! He gave me a decent price, I bargained with him for 1.5% and they sold it the same day it went on the market at the asking price!

 

[The Great Cornholio]

Thanks for the advice everyone - looks like 1.5% is the going rate.

 

[Yorkie]

That must be the rate down south. It was 1% in Huddersfield.
The first estate agents were useless so we sacked them after two months (just gave them 14 days written notice)
The second estate agents sold the house within 10 days. (those were the agents I wanted in the first place but Ned thought differently )

 

[desprateseagull]

i think there's one in brighton that gives part og their fees to charidee.. not sure which one though, sorry.

best to get some agreement (in writing!) about fees and other costs expected, and who/when they are to be paid.. could consider asking for a (high?) non refunable deposit with any offer, to ward off any timewasters..

or put thru an auction? or fierm our do with some extra business!

pm me for contact details.. i am not on a commission... yet!