There’s been quite a bit of debate in the media of late about estate agents’ fees – but the dissent is not necessarily from the quarter you’d expect. It’s not sellers who are unhappy; the debate is actually among agents themselves.
On the one hand you have the traditional high street agents, using the old business model and charging a commission of around 1.5% of the final selling price when a house sale goes through, which works out at around £3,000 on a sale of £200,000.
On the other, you have the online estate agents charging a flat rate, either up-front or on completion, which is normally considerably less.
But it isn’t as simple as that…
Tit for Tat
In response to being undercut, high street agents tend to warn sellers who may be considering the online option that – although their internet rivals’ offer may seem attractive – it’s probably payable up front. That’s a bit like walking into a restaurant and paying for your meal before you even sit down, they say. And who wants to do that, right?
So, as a counter punch, one of the larger online agents (the one with a name similar to a coloured building block) has implied it allows sellers to defer any up-front payment. Or at least that’s what their advertising leads you to believe.
But then the traditional high street agents have been handed a swift riposte, revelling in the recent revelation that online estate agents’ deferred up-front payments are, in fact, a thinly-disguised credit agreement. Sellers still have to pay the online agents’ fee whether their home sells or not. Using the same restaurant analogy, that’s like signing an agreement to say you’ll pay a set amount for your meal at some future date – even if it’s horrible.
What We Offer
So where do we stand in all this? Well, at Esale, we certainly won’t charge you a 1.5% commission. With new technology such as smart phones, the internet, email and a selection of well-used property portals available these days, we simply don’t believe you can justify that kind of money anymore.
But neither do we believe in trying to bamboozle you with fast-talk about the alternatives. We’re based in Yorkshire so we believe in plain speaking and we offer two things. You can either pay us £595 up front (including VAT) or you can pay us £1195 on completion (also including VAT). With the latter, if your house doesn’t sell, you pay us nothing… Nowt. Nada. Zip.
There are no catches. There are no hidden clauses. You don’t have to use our recommended partners for things like removals or conveyancing. In fact, if you’re not happy with the services we provide, we offer a 30-day, no-quibble, money-back guarantee.
So, if you’re on a budget, want to know exactly where you stand and can’t be doing with weasel words, we’re ready and waiting. Just give us a call and we can start with a no-obligation valuation. If you like it, we can go from there …