Research by EAT shows British estate agents charging some of the lowest fees in the world.
With agents charging variable fees in the UK - most believed to be 1.0 per cent to 2.0 per cent but as high as 3.0 per cent in parts of central London - comparisons are difficult.
But EAT's research, using data from different national estate agency authorities and government statistics organisation, shows higher fees in most locations:
- Denmark 5.0 per cent
- France 6.0 per cent
- Ireland 3.0 per cent or higher
- Netherlands 5.0 or higher
- Spain 6.0 per cent or higher
- Sweden 4.0 per cent
- Switzerland 4.5 per cent to 10.0 per cent
- United States 6.0 per cent to 10.0 per cent
Most agents have discretion to charge less in competitive circumstances so these figures are generally upper limited; in addition the quality and extent of service from an agent differs significantly.
For example in the US, agents often justify higher charges because of the level of obligatory property, business and legal training they undertake. In addition, services by agents to clients in the US include multi-listing'.
In Sweden, estate agents are tightly regulated by law and in most parts of Canada agents are not allowed to practice without 200 hours of specialist training. To open a branch in Australia, agents must undertake 30 days of courses and pass 16 individual training subjects.
By comparison, Britain is much more loosely regulated although often face fiercer competition from rival agencies as a trip down most high streets will demonstrate.
Comments
And, more to the point, WHY DOES MY POST have the same
Methinks someone's hacked your code...
Hmmm... question for EAT -
WHY is the word "modul es" in the above 'story' a hyperlink to some commercial website that has BOT ALL to do with the actual story
Sorry to wee on your firework and all that - but 'stonehenge' is NO troll.
that will be none at all. He is a troll and you fell for it
Stonehenge - "Only those who have passed the NAEA Technical Award, Certificate or Diploma have any grounds to shout about their ability."
With all due respect - that is absolute billshut and you know it.
What about all those Members (and, for that matter, NON-Members...) who have passed the acid test - twenty; thirty years and more of doing the job day in, day out - who have probably FORGOTTEN more about the technical side of the job than those with a 'NAEATA" will ever know
'Technical Awards' DON'T sell houses; they DON'T get the seller the best price for their property - EXPERIENCE DOES (usually...).
What DOES a Tech Award get the client these days
It is not possible to compare agents in different countries just on fees or commissions.
e.g. Compare the USA and GB The services offered are like chalk & cheese. EAT, please get a grip.
Well done Stonehenge, all that effort, all that typing but there is no-one here left to troll.
I've only been an agent for 2 months now... but I was sure that I should have been getting more commission :D
Should have become an agent in Sweden!
I imagine our house prices are higher though ...
That's why agents in England & Wales are generally poorly equipped with a distinct lack of technical knowledge. Only those who have passed the NAEA Technical Award, Certificate or Diploma have any grounds to shout about their ability.