House selling fee

A question about : House selling fee

I have had a local estate agent come and value my house. This is the first house I have sold. He has quoted 1.25% fee of selling price. He has said this is negotiable. My question is, what would be the going rate? My home is valued around Ј2500. Any recommendations how and what to negotiate?

Best answers:

• )) Ј250000
• 1.25% isn't high, but you could push for 1%. Just make sure a lower fee does not equal a poorer service.
• And if sole seller?
• multi-agent contract?
  Or sole agent?
  Or sole selling rights?
  Check before you sign.
  Also consider the lock-in period. If the agent is cr*p and you are tied in for 12 weeks, then having a 1% fee does not help you!
  Most agents during their marketing spiel will assure you "We have lots of buyers interested in properties like yours".
  "Good" you say. "Then you won't need 12 weeks to sell it. Give me a 6 week minimum contract at 1%".
  If they turn out to be cr*p you can switch after 6 weeks........
• 1) Dont forget that the fee is PLUS Vat
  2) better to get an all in fee (Suggest Ј2000 all in and see how he reacts)
  3) Not a bad thing to mention the 'Other' EA who was happy to do it for Јx - Esp since the market is struggling at the mo (Its a Buyers Market).
  4) Totally agree with the 6 week tie in.
  Also acquaint yourself with a 'Sole Selling Rights' clause as a card on local notice board will mean that the EA will still want paying when prop sells.
  Good luck
• They have agreed 1% but I didn't realise I'd need to pay VAT on top. Will tell them I'm happy at 1% incl VAT. Anyone any views on that?
• You could try it but I'd be surprised if they'll do it for that less VAT. Good luck, worth asking, you never know