I am very unhappy with the ridiculous fees charged by Estate Agents – 4/5% – I don’t understand why its so high here (they don’t have higher costs) in other countries UK & Australia it is only 1-2%.
The question I have is regarding how and when these fees are paid. Agents here want variable amounts on signing the private contract, 100%, 75% 50%. The balance paid on final contract at Notary. They say they will refund various amounts if final sale is then not agreed, and some say that once you have paid for the first sale attempt no further fees are charged for the next sale agreement. So you are expected to then trust them to do their job – even though they have already received (as least a large part) of their commission!!!!
Could I have some feedback on this (in my opinion) unethical practice.