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Estate Agents play a vital role in your house-selling process. Are their fees fair? What are you actually paying for? Find some useful informations about estate agents fees.
You’ve lived in your home for years, built it up from a 1960s hole with brown shagpile carpet and orange walls… you’ve fixed the boiler (twice), dealt with leaky taps, decorated, DIY’ed and spent hours steaming off wallpaper and debating over which paint colour is the perfect shade of grey. Why wouldn’t you…? It’s your home..Where your stories begin and memories are made…
So the day an Estate Agent comes into your home and announces they’d charge up to 3% to sell your home, You’re allowed to feel a little cheated…after all, 3% of your £500,000 home becomes a rather hefty bill…!
We found out that the national average for Traditional Estate Agent fee’s is 1.3%+VAT… But what exactly do you gain for handing over 1.56% of your House sale price… which, is, after all your hard earned money?
What am I paying an Estate Agent’s fee for?
You’re actually paying an agent:
- To value your home a host of research is needed into the local market, looking at fluctuations as well as interpreting past sales data. This takes time and expertise to create a true valuation that your home can achieve.
- To create a property profile whereby the Agent needs to travel to your home, take Photos and floorplan measurements. This information, plus additional sales points of your home needs to be written up in an aesthetically pleasing format for Buyers to view.
- For marketing – whereby your property will be listed on the largest House buying sites as well as having a street presence – where your property will be printed in all its glossy glory in the Estate Agent’s window.
- To manage all enquiries on your property, answer preliminary questions and arrange for viewings to take place.
- To place a “For Sale” Sign in front of your property & show people around giving a verbal walk through on why your property is the best property to buy, printing out beautiful brochures on your home and the selling points.
- Negotiate on your behalf, gaining the price you want for your property without awkward conversations with the buyer.
- To manage the progression of your sale, acting in your favor to keep the process running smoothly. They are your advisor & port of call for questions and worries.
All in all a good Estate Agent will make the sale of your property easier (and quicker!), as well as guiding you through the labyrinth that is the property market.
If you’d like more information on Estate Agent Fees and what they do to help you sell your property, read more here with GetAgents Guide to Estate Agent Fees.
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