When cheap isn’t very cheerful
Estate agents’ fees for selling a property can vary wildly.
In many parts of central London 2.5 per cent is a standard fee. However, I’ve seen agents advertising fees as low as 0.50% or even a flat rate of £500.
There is no way any agent doing their job properly can charge £500 and make money. They would have to cut more corners than a Grand Prix driver in several key areas just to break even or reduce their losses.
For a property to achieve its best price in the shortest possible period of time it needs to be well marketed. Online portals aren’t cheap, neither are professionally designed marketing materials. However, the area where the vendor can get really short-changed by a ‘cheap’ fee is the level of personal service they receive.
When an agency bases its business on charging rock bottom fees there’s no way they can attract the best level of staff because good people won’t work for low wages. The saying ‘if you pay peanuts you get monkeys’ springs to mind.
Remember selling your home is probably one of the single biggest transactions you will make in your life. You want to get the best possible price for your property. The difference between a quick sale and a good sale could be tens (even hundreds) of thousands of pounds.
At Galloways we’re flexible on our commission fees to a point. We’re not a ‘pile them high, sell them cheap’ agency but we do understand it’s a competitive market and we always aim to be competitive.
But one thing we never compromise on is our commitment to looking after your property needs as best we can.
Thanks for reading,
Want to get a SOLD or LET sign outside your property quicker? Call Galloways and our team on 020 8766 6111 or email: firstname.lastname@example.org for honest, expert and friendly advice.
117 High Street,
London SE20 7DS
Tel +44 (0)20 8778 1120
West Norwood office:
282 Norwood Road,
London SE27 9AJ
Tel: +44 (0)20 8766 6111