This month we’re looking at trends in estate agency fees. And the good news is, fees in the UK are among the lowest in the world . . .
Moving house is a considerable financial commitment, and it’s important to budget for all those essentials such as furniture removal costs, stamp duty and of course estate agency fees. As the figures add up it can seem daunting, but the results of an expert survey might make you feel a little better about those costs.
The research was published by International real estate broker Tranio, a Moscow-based company that sources properties for clients all over the world. Its study of 20 free-market economies found that the UK is one of the lowest-priced for agency commissions.
Here, fees typically range from as low as 0.5 per cent to around 3.5 per cent. Rates differ depending on a number of factors, including the value of a property and whether you have opted for sole agency or multi agency marketing.
In many countries, however, clients must pay a buyer’s commission as well as a seller’s commission (in the UK, we only pay the agent that sells our house). In Germany it’s the other way round - there is only a buyer’s and no seller’s commission, and fees vary from 2 per cent to 6 per cent. Tranio found that the country with the highest top rate of seller’s commission was Italy, where fees can climb up to 7 per cent. In Portugal it’s a flat 5 per cent, and in the US the range is from 2 per cent to 6 per cent.
In line with this positive national picture, here at Roger Coupe we offer highly competitive rates. We’re not necessarily the very cheapest option but, as Which magazine warns INSERT LINK http://www.which.co.uk/money/mortgages-and-property/home-movers/guides/selling-a-house/estate-agent-fees-and-contracts, opting for a rock bottom rate won’t necessarily save you money in the long-term.
This is because finding the right agent involves so much more than the rate of commission alone. To help your property sell quickly, and at the best possible price, you need a trusted, local agency, staffed by experts who know the market and have a list of potential buyers ready and waiting to view your home. This is exactly what you’ll find at Roger Coupe – a friendly, efficient and knowledgeable team that’s passionate about property in Cranleigh and surrounding villages. If you’re thinking of selling, don’t hesitate to contact us to chat about a no-obligation valuation and a guide to our fees.