A common grumble from house vendors is about estate agent fees.
However, that doesn’t stop them from begrudgingly handing over the thousands of pounds due at the sale completion. Looking at some of the estate agents in Birmingham, a common theme arises from the estate agents fee schedule – it is high! Shock and horror!
An average estate agent with a single office or small branch network will typically charge between 1.5% and 2% of the final sale price and some Birmingham estate agents charge even more for “extras” such as a For Sale board. With the average selling price for a house in Birmingham currently over £150,000 it is easy to see a final estate agents bill of over £3,000. Signs are all pointing to a housing market that’s picking up after several years of sluggish sales so selling a house should be getting easier. Is it right that some estate agents in Birmingham charge such huge fees for potentially not a lot of work? There are of course alternatives to a traditional agent. Online estate agents can save vendors thousands of pounds whilst still providing the service levels required. Many people are choosing to go down this route and cutting out the massive final sale fees.
One of the major advantages to using online estate agents is the fact that the properties for sale will appear on the large, national house sale portals such as Rightmove, Zoopla, Findaproperty and more. As more than 80% of buyers begin their search for a new home online, this makes perfect sense. Although some private sellers would perhaps like to list their own properties on these sites, most of them will only list properties that are registered through an agent.