Some agents are advertising their fees and comparing them to percentages, the main one currently being quoted is a fee of 1.5% plus VAT. Nice work if you can get it!
Let me tell you the long awaited truth about fees…
Many moons ago when I started in Estate Agency the fees being charged were regularly 2% or thereabout. HOWEVER the average house price in the NP postal code areas was probably £40,000 to £80,000 - the average house price in Cwmbran in 1988 was under £45,000, for example.
Percentages worked fine back then, and still can do today in some situations, under the reasoning that the more the estate agent gets for you the more they earn i.e. mutually beneficial for both parties.
As property values have risen over the years, quite rightly, the % being charged has dropped. If it hadn’t all Estate Agents would be pulling up in driver driven Rolls Royce’s - saying that probably not based upon the ever increasing cost of rightmove.co.uk! (industry joke)
Fixed fees have been in operation in the NP postal code area for many, many years and by no means are a new thing, and guess what - ALL AGENTS WILL NEGOTIATE ON FEES! You will get similar deals regardless, unless you go to certain corporate agents who are not allowed to negotiate, so be aware!
Some Agents are now trying to offer cheap fixed fees to win your business because their service is, basically, lacking in all other departments and offering low, unsustainable fees is the only way they can entice customers.
We are now well into March and February has come and gone, the month of love, or as some may say it contains a made up day to further strip us of cash! Imagine taking your beloved out for a cheap Valentine’s meal, then buying a cheap bottle of wine, just ordering a starter, skipping the desert, not tipping the waiter after receiving a great service and then asking to “go Dutch!?” CHEAP – Who likes it or wants to be associated with “being cheap” or anything CHEAP.
We all know you get what you pay for and this is especially vital when choosing an Estate Agent.
We have various packages available and will agree a marketing plan based upon our clients budget and needs. When selling your property a “one size fits all” approach certainly does not fit. Some clients and their properties deserve certain marketing techniques that will never be realistic for a fee of £500 to £700. What can you get in life nowadays for £500!!!? not very much.
It is unlikely we will ever be the cheapest, in the same way as a Michelin Star restaurant will never be the cheapest, however you can be assured our service will be as good as you can get, and we will be here for the long term to help our clients benefit from a “Michelin Star ” quality service at a cost that will always be fair and will reflect the work required to get the job done the way you, the client, desires.
And please note, regardless of what those less scrupulous blighters advertise or say, if your property is over a certain value we will NEVER charge you 1.5% Plus VAT - so don’t be fooled by any false advertising!
Contact us for professional, honest advice at a realistic fee you are happy to pay.
We would love to hear from you, also please feel free to contact me directly: phil@hathways.co.uk or 01633 870777
Phil
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