Estate agent fees can quickly add up but by knowing how to negotiate, you can actually bring them down quite drastically. Haggling is not traditionally the norm in Britain however, the following tips will help you learn how to negotiate the selling fees and will help save you quite a bit of money in the end.
A key factor to think about when negotiating with an estate agent is that they need you more than you actually need them. The following are examples of some money saving tips on ways to cut costs on estate agent fees.
Deviances to Negotiating
Corporate run estate agencies are typically more difficult to negotiate fees with than those that are smaller and run on their own. Estate agencies that are corporately run have stricter policies in place when it comes to commission and their employees need to follow those guidelines. These corporate chains can get away with these outrageous standards and practices because many buyers and sellers will not have done their homework and go along with these high commission rates.
This shouldn’t concern you as the smaller, independent agencies are easy to deal with and will have more room to bargain, yet will still strive to give the highest quality in service. There are a variety of things to think about when consulting with a prospective estate agent on the sale of your home.
Some Things to Keep in Mind
Typically the estate agent who is the most successful in their field will be more difficult to deal with than an agent with a smaller market when it comes to negotiating. Just because an estate agent is well-established and is popular in their area doesn’t mean they will give you the best service.
Do your homework and speak with a number of agents in the area from both nation-wide and smaller firms to get an idea of the types of services and pricing they offer. Remember, they will be working for you, even though most will make you feel like it is an honour for you to have hired them. Never choose an estate agent that you are uncomfortable working with. Select someone that you will be glad to work with and they will get the job done by selling your property.
Consult with the agent and discuss all business terms up front. They should be fair and lay out everything ahead of time. There should be no additional costs or fees that you will have to incur at a later date. Select an agent based on their selling game plan instead of how charismatic and charming they are in making their sales pitch.Continue Reading