UK Agency Fees amongst the lowest in the world, but watch out....you get what you pay for.
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,
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.