Reply To: Estate Agents Fees

Aunty Val
Because the sales are thin just now it is in an agents interest to try to persuade vendors to reduce. Not all of them ask inflated prices, when my daughter put hers on the market we both did extensive research on the web. She refused to give the price to any of the agents who came round so she could obtain an independent valuation (except one who refused to give a price!!). She finally asked 25000 below the average valuations and is prepared to negotiate a small further reduction.

Errr…excuse me…but if a vendor wants/needs to sell surely it is in their best interest to have the property at a realistic price to compete with the rest of the market.

If you were on the market and the agent just left you in the dark as to market conditions (knowing that you were over-priced) would you be grateful to him/her – I think not.

Agents do not create or influence (greatly) market conditions – they merely react to them.

As for your daughter – very sensible. Don’t tell an agent a price and get three valuations at least. Question them as to how they are going to sell and appoint the one you feel happiest with.