Certus Mortgage Solutions: Use of Estate Agents

If you don’t want to sell your house privately estate agents are there to help you get the best price for your property in the quickest time. But expect to pay for the service.

Estate agents’ fees depend largely on whether you chose to entrust the sale to one agent – sole agency – or spread it among two or more agencies – multiple agency. If you are going down the multiple agency route then experts recommend you make sure the commission is split equally so that the agents are more likely to work together.

Agents typically charge between 1 per cent and 2 per cent of the property selling price if they are the sole agent or around 3 per cent if they are a joint agent. Some agents can charge as much as 2.75 per cent for sole agency, however, so it is worth double checking the price before you sign up and renegotiating if necessary. Some now offer a fixed fee, especially for properties at the lower end of the market.

Different agents also offer different services and charges accordingly. They can provide valuations, sale brochures and photographs, host viewings, vet potential buyers (checking that they are in a position to buy), increase personal safety when selling, provide local information and progressing the sale by liaising with all parties in the chain.

Advice on www.findproperty.com says that you can try negotiating with the agent to agree different commission rates depending on the selling price they achieve.

If you want a more novel way to sell your home, then you could look at www.auctionyourproperty.com, which was set up by professional auctioneer Andrew Binstock.

You put your home on the website six to eight weeks before an online auction is held. This gives the prospective buyers time to contact you ask questions and visit the property. The actual auction then takes place over just one day, with the highest bidder at the close of play picking up the home. The site charges £49 plus VAT.