When selling a property, one of the most important factors to consider is the estate agent selling fees. These fees cover the estate agent’s services, such as marketing your property, handling viewings, and negotiating with potential buyers. Understanding how these fees work will help you plan for the costs associated with selling your home and ensure you get the best value for your money.
In this guide, we’ll break down the types of estate agent selling fees, how they’re calculated, and what to expect when working with an estate agent like Fraser Bond.
Estate agent fees typically fall into two main categories: commission-based fees and fixed fees. The structure of the fee you pay will depend on the estate agent’s terms and the type of service you choose.
Most estate agents charge a commission based on a percentage of the sale price of your property. This is the most common fee structure in the UK, and the commission rate can vary depending on the agent, the property type, and the local market conditions.
Standard Commission Rates: Estate agent commission rates typically range from 1% to 3% of the final sale price, plus VAT. The exact percentage will depend on the agent and the level of service they provide.
Example: If you sell your home for £400,000 and the estate agent charges a 1.5% commission, you would pay £6,000 + VAT (£7,200 including VAT at 20%).
Some estate agents offer a fixed fee structure, meaning you pay a set amount for their services, regardless of the sale price. This can be a more predictable option for sellers who prefer knowing the total cost upfront.
Typical Fixed Fees: Fixed fees can range from £800 to £2,500, depending on the agent and the services included. Some agents may charge lower fees if you use online or hybrid services.
Online Estate Agents: Online estate agents often offer lower fixed fees, but they may not provide the same level of personalised service or in-person support as traditional agents.
Hybrid estate agents combine elements of traditional and online services, offering lower fees while still providing in-person support, such as property viewings and negotiations. Fees for hybrid agents can be lower than traditional agents but higher than online-only services.
Estate agent fees typically cover the essential services required to sell your property. However, the exact services included may vary depending on the agent and the type of fee structure you choose. Here’s what you can expect:
An estate agent will provide a property valuation based on market conditions, comparable sales, and their local expertise. This helps determine a competitive asking price for your home.
The estate agent’s fee usually covers the cost of marketing your property, including:
Estate agents typically manage property viewings, ensuring that potential buyers are properly vetted and that your property is presented in its best light. They’ll also handle negotiations to ensure you get the best possible sale price.
Once an offer is accepted, the estate agent will liaise with the buyer’s solicitors and mortgage lenders to help move the sale forward. This part of the service is crucial in ensuring that the sale completes smoothly and on time.
In addition to the estate agent’s selling fees, there may be extra costs to account for during the property sale process. These can include:
An EPC is a legal requirement when selling a property in the UK. It provides information on your home’s energy efficiency and must be made available to potential buyers. EPCs typically cost £60 to £120.
Conveyancing is the legal process of transferring property ownership. You’ll need to hire a solicitor or licensed conveyancer to handle this, with fees ranging from £800 to £1,500 depending on the complexity of the transaction.
If you’re moving out of the property, don’t forget to budget for removal services. The cost of moving your belongings to your new home will vary depending on the distance and amount of furniture, with prices typically ranging from £400 to £1,200.
Estate agent fees are not set in stone, and you may be able to negotiate a lower rate depending on the agent and your property’s marketability. Here are some tips for negotiating estate agent fees:
Speak to multiple estate agents and compare their fees and services. This gives you a clearer understanding of the market rate and allows you to negotiate based on what other agents are offering.
If your property is in high demand or located in a desirable area, you may have more negotiating power. Estate agents may be willing to lower their fees if they believe your property will sell quickly or at a high price.
Some estate agents may offer a tiered commission structure, where they charge a lower percentage for the initial sale price and a higher percentage if they achieve a sale price above a certain threshold. This can incentivise the agent to secure a higher offer for your property.
Ensure you ask the agent if there are any extra fees not included in their quote. For example, some agents may charge additional fees for professional photography, premium online listings, or sales progression services.
At Fraser Bond, we offer competitive estate agent fees, tailored to meet your specific needs. Our team of experienced estate agents provides a comprehensive service that covers everything from property valuations to marketing, viewings, and negotiations. Here’s how we can assist you:
Understanding estate agent selling fees is essential for planning the costs associated with selling your property. Whether you opt for a commission-based fee or a fixed fee, it’s important to know what services are included and how to negotiate the best deal.
At Fraser Bond, we provide expert property services to help you sell your home efficiently and at the best price. Contact us today to discuss our fees and find out how we can assist with your property sale.
