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Written by rosalind renshaw

Consumer watchdog Which?, a persistent critic of estate agents, has advised home sellers to shop around for the smallest fees and to save money by either selling it themselves  or using an online agent.

Which? said that estate agent fees are a major cost in moving home and can be as high as £4,800 on a £200,000 home.

However, it said, using an online agent could cost as little as £455.

The two examples of costs it quoted were 2% plus VAT charged by an agent in North East London, and the lower sum charged by Housesimple, whose fee includes an erected For Sale sign.

Which? said that its researchers got four quotes from agents in North East London, where the fees ranged from 1.5% quoted by two, 1%-1.75% quoted by another, and the top quck of 2%. It said that the difference between a fee of !% and 2% is'huge', at £2,400, includingVAT, on a £200,000 sales price.

It said it was a similar story in Brostl, where two agents quoted 1.25% and the other two quoted 1.5% to 2%.

By contrast, Which? cites fees for online estate agnets which it says 'offer manyof the same services you'd get from a high-street agent'. It mentions Hatched and Housenetwork, which both include an initial valuation home visit and property details, plus listings on Rightmove.

However, Which? does warn that while selling a property yourself or through an online agent is much cheaper, the sale could take longer.

It also advised home sellers to shop around for an Energy Performance Certificate, saying charges vary from £35 to £120.

Altogether, said Which?, consumers can knock £6,000 off the 'expensive extras' of moving home simply by shopping around and finding the cheapest services.

It said that the average bill for selling a £200,000 property now comes to £7,400 and that the cost of moving has 'never been more difficult'.

But Which? did say that whilst vendors could save on estate agency fees, it was important not to scrimp on areas that could protect their interests, such as surveys and legal fees. It said finding a good surveyor was more important than cost.

Almost as an afterthought, in a single paragraph, Which? mentions the un-negotiable cost for buyers of Stamp Duty which on a £200,000 sale would be 1%.

Comments

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    Online agents are definitely the way to go. We have just moved into our new house after selling with an online agent. To be honest we were really pleased as they ended up doing much more than we expected in fact everything and more we would have got from a traditional. We only paid £426 to sell. We used Pink Residential. We knocked on a couple of houses that were sold with them before we went with them so would advise that with any agent.

    • 01 March 2013 23:24 PM
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    For a much cheaper alternative to marketing your property visit http://www.sell-myhouse.co.uk

    • 19 November 2012 16:05 PM
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    The animosity towards the online EA is typical of my experience of high street EA's. Like the slick salesmen, all smiles and polite to get you on board but watch their attitude change the minute there is a problem...

    There is a good reason why many sellers are selling independent of traditional estate agents and its not ALL to do with price.

    • 31 March 2012 03:45 AM
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    Ric - As an online estate agent, a new upstart I have to say that I disagree with you view of online estate agents lack of motivation. Nothing helps bring on more instructions that a SOLD board going up.

    I could argue that with traditional estate agents they spend their time and effort on the most expensive properties to maximise their income and leave the lower end properties to rot.

    • 11 June 2011 12:18 PM
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    @Justin - Lord Sugar & Theo Paphitis clearly don't respond to trolls. How's your imminent success http://www.myboso.com/ coming along?

    Please don't enter the EA market without any experience, training or qualifications, you're only going to fail and piss a load of vendors off!

    • 27 February 2011 22:50 PM
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    @ Mike Thanks for letting me know, I was worried my brain had finally melted at first!

    Just to keep this on topic, I would never advice anyone to go for the cheapest of anything, the same as I would never pay the highest for things. Plus, I think most people like to deal with an actual person, I know I do. I like knowing I can go to an office and speak to someone face to face. If I could only deal with an online agent/insurer/service-of-any-kind I think I would be more likely to go elsewhere.

    • 25 February 2011 15:44 PM
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    I don't support posting non-relevant comments, but I've gone back on myself on this one...

    Thanks for that last post - that's taken a great weight of all of our minds!

    • 25 February 2011 12:23 PM
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    @Country Lass

    You said:
    "Am I the only one whose description of the property listed the The Queen's link appears to be in latin? I'm pretty sure most buyers won't be able to read latin."

    It's not Latin. It's the dummy text used by typesetters since the 1500s. Although based on Latin, it was modified by the person that invented it so that it has no meaning.

    When typesetting moved on to the web, the creators of software like Aldus Pagemaker acknowledged the origins of typesetting by including 'Lorem ipsum ... ' whenever dummy text was needed.

    • 25 February 2011 11:22 AM
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    If only I had stayed in business long enough to see the day ....

    • 24 February 2011 22:35 PM
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    The public are not great negotiators generally. If left to negotiate themselves they are likely to agree a sale figure which could be a lot higher if a decent negotiator was doing it on their behalf. If the negotiator gets the price up a few thousand (which is normal) you end up with more money in your pocket than going down the CHEAPER route than the fantastic WHICH? recommend. Additionally a good agent can help the vendor negotiate on their upward purchase saving them even more money!
    I wonder how many online agents offer this free service? Maybe I should ask WHICH?! (or won't they have a clue?)

    • 24 February 2011 20:21 PM
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    Ric: "Any decent agent would have moved the traffic cones before taking that photo aswell!...." Nah, mate - that's what Photoshop is for! Or those nice people who make the sky blue on your photos... Might even Letraset some trees onto the background (showing my age now...)

    I wonder what Mary Portas would have made of the property description? If there is ONE 'Exclusive Turning' ANYWHERE in the world, I reckon this is it!! ;0)

    • 24 February 2011 17:46 PM
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    Property Misdescriptions Act 1993 Specified Matters:

    16. Price (other than the price at which accommodation or facilities are available and are to be provided by means of the creation or disposal of an interest in land in the circumstances specified in section 23 (1)(a) and (b) of the Consumer Protection Act 1987(a) or Article 16(1)(a) and (b) of the Consumer Protection (NI) Order 1987(b) (which relate to the creation or disposal of certain interests in new dwellings)) and previous price.

    Erm... OOPS...!

    Looks like a prima facie case. Where is your reporting Trading Standards Office, Mr VerySmartMove? ;0)

    • 24 February 2011 17:41 PM
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    @The Queen.....Priceless!

    @ Justin......If ever there was a reponse to show people you mean business!

    Brilliant humour though, although as "The Queen" has pointed out you have kind of proven the sell em cheap mentality of the online agency!

    Any decent agent would have moved the traffic cones before taking that photo aswell!....LOL.....

    • 24 February 2011 17:17 PM
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    Am I the only one whose description of the property listed the The Queen's link appears to be in latin? I'm pretty sure most buyers won't be able to read latin.

    • 24 February 2011 17:08 PM
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    Be seated.........Please can someone tell Justin that one has entered the price wrong on ones property for sale, it should be 100 million.
    http://verysmartmove.co.uk/my-house-for-sale

    Also please add sitcker 'Investors LOOK'

    Laterz
    The Queen

    • 24 February 2011 16:23 PM
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    Any hope of change? I doubt it!

    Agents are in total competition. All do free Vals in the hope of getting stock to sell. NO stock no business. Therefore the business model means poor agents will tell vendors what they want to here, the highest price and the lowest fee, if they are rubbish. Hence the ludicrous “No Sale No Fee” business model.

    Sadly 80% are in that bracket and many of them, if not that basic, don’t actually know what something is worth in this market. Many got away with it in a rising market as eventually the market would catch up and prove them “right”! If the industry do such a bad job a web site doing nothing for less then has a chance. We have to improve, simple.

    Sadly we get the right criticism as any Tom Dick or Harry can just set up as an agent, we can shout about experience, but without any way of dealing with the rubbish, people are going to keep getting rubbish from the industry- I avoided profession, there is little professionalism, the majority drag the minority down.

    • 24 February 2011 13:06 PM
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    "In Spain most cut out agents" Anna, how is the market?? Rubbish we are told fom here, with nothing selling unless vastly less than anything else. Be honest you know its far, far worse than England. Only your football is better!

    • 24 February 2011 12:52 PM
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    "consider providing information about the condition of your property. This might be a good way to signal that your house is in good condition or that you are being honest about any problems with your home"

    • 24 February 2011 11:52 AM
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    One of our negotiators left and moved to a totally different area and took work with Hatched. He was, as we expected, doing very well. Came back after Christmas to find he'd been laid off.
    Companies cannot operate successfully on a shoestring and give the same service.

    • 24 February 2011 11:45 AM
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    The OFT's Home Buying and Selling Report, published 18th February shows that consumer satisfaction with estate agents is at very high levels despite the current turbulence seen in the home buying market.


    Not good enough for PBK though! Me thinks he has an agenda.

    • 24 February 2011 11:39 AM
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    @Anna

    You said:
    "Here in Spain everyone tries to sell directly and avoid the 5% commission to the agent. In the UK it seems to be such a slow process to catch on and I have no idea why because with property thin on the ground in the South East it is easy. A friend advertised privately her property in Sonning last year and it sold within 2 days to the first couple that saw it. She saved a lot of money.......Most people use the internet to search for their new property so we just need a brand to catch on like RM did......"

    If UK agents charged 5% I'm sure more people would try to sell privately but, with UK agents charging about 1.5%, most people believe they'll get 1.5% more for their property if they use an agent.

    As for needing a 'brand to catch on like RM did' - RM did not 'catch on' - they spent millions on TV advertising using Ian Wright when it launched - and have spent millions on TV advertising since. Web sites enabling private sales simply do not have the money to compete and, if they did, they'd still only get 5% of the market. In the biggest financial transaction of their lives, most people want an agent to act for them.

    • 24 February 2011 11:38 AM
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    you pays yer money and takes your choice

    My Question: Is that up front online agent motivated to finish the job? and can you just rely on the internet to sell a property?

    There must be evidence that not everyone who purchased a house in the past 12 months had access to the internet...so is there evidence that an online only Agent is not enough to leave no stone unturned in trying to find a buyer?

    • 24 February 2011 07:24 AM
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    PeeBee: Agents should love being asked if they will do a deal on a fee!

    We will always quite willingly do a deal on fees when asked politely but rarely do they accept my invitation of upping it by a quarter %....! They usually settle for the "Normal" fee then!

    Good evening all...........

    • 23 February 2011 18:16 PM
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    get off my land!

    • 23 February 2011 17:15 PM
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    Justin,
    Word to the wise.
    If I was you I would lock down your facebook profile. I defiantly wouldn’t be providing a link from my company’s page.
    I didn’t think much of the dwarf joke on your wall by the way, very poor taste.
    Still nice to know you have zero experience in property (which I assumed) Stick to the take away menus.

    • 23 February 2011 17:04 PM
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    The advent of price comparison websites for everything means that Which have very little write about these days.
    If they are having trouble finding new material perhaps they could run an article on how well the Which subscription stacks up against their free, more comprehensive, more up to date and more accessible competition.

    • 23 February 2011 16:54 PM
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    Justin: THANK YOU for updating your website following our pointing out that it is live.

    It STILL isn't LEGAL, I'm afraid!

    Your rushed update on the 'About Us', 'Privacy' and 'T&Cs' page says it all -

    "WEBSITE STILL UNDER CONSRTUCTION!!"

    Care to repeat that - in ENGLISH, perhaps... ;0)

    • 23 February 2011 16:40 PM
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    Ric: On an earlier post you drew attention to the other WHICH? web article. I have to laugh at the last entry under the heading of 'Estate Agent Fees' "Don’t forget: agents are negotiators – so try to negotiate their fees!"

    When I say 'laugh' - it reminds me of those Agents who open their Fee gambit with "Well... our NORMAL fee is in the region of... HOWEVER..."

    And they expect people to trust them with handling the negotiations of their largest and most valuable possession...?

    • 23 February 2011 16:35 PM
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    @everyone who may have been genuinly interested in Justin's website! and in particular anyone in preston it appears!

    check out.......... jshgroup.co.uk

    among the boasts of TV and Media ventures coming soon one link on Justin's site says

    TimetoSellup.co.uk is changing its name to …… VerySmartMove.co.uk!!

    What happened to time to sell up? and how is your attempt to topple Sky coming along?

    and why oh why have a pop at people who have their business ideas up and running with results to show their success be it online agency or high street agency when all you appear to have is a lot of ideas already thought of!

    • 23 February 2011 15:16 PM
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    Gerry: Don't do Little Britain, I'm afraid. I'm more a lover of 1920s/30s classic films, to be truthful.

    As to whether you are impressed or simply blowing smoke out of your @$$ - quite frankly, my dear, I don't give a damn...

    Now that's out of the way - anything of substance to add to a single one of these threads?

    • 23 February 2011 15:06 PM
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    @PeeBee

    You are like a Little Britain sketch. Pure comedy gold.

    Don't worry though, we're all suitably impressed. Honestly.

    • 23 February 2011 14:57 PM
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    Gerry: Nice to see I am still cracking you up.

    Yes - three whole miles radius of my office. That is 28.78 square miles of roads, fields - and PROPERTIES. And my little office produced the highest percentage of achieved price to asking price of any other Agent in that area. Who told me that - all the others, that's who! I simply asked the question, and the answers were forthcoming. I beat the next best by well over one percent, in case you want to know.

    WHY would I be interested in further afield? The properties I marketed on behalf of my vendors were all within a much smaller radius than three miles; but Agents three miles away tried their hand on my patch - usually unsuccessfully.

    You have a better set of stats, I take it?

    Or would you like some help to analyse your own patch of turf?

    • 23 February 2011 14:45 PM
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    @JUSTIN

    The site is LIVE I went on it and so did PeeBee!

    You would have been better commenting and not promoting your LIVE website which is LIVE for me to go on now and anyone else to go on! Try it yourself it is LIVE!

    First impressions count....never launch an unfinished product you fail before you start!

    • 23 February 2011 14:44 PM
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    The name has been taken, website looks rubbish, nobody will find property when searching, thousands of other people doing it and failing, he can't spell and for those reasons....Im out

    • 23 February 2011 14:38 PM
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    'Esate Agents can't do lot reeally if you think about, your property in their window, the local newspaper and website... maybe the odd mail shot...'

    Is that what you think? ha good luck to you!
    ps. it's spelt ESTATE AGENTS.

    • 23 February 2011 14:32 PM
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    @ Wardy, oh well.

    • 23 February 2011 14:29 PM
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    @ PeeBee, the site isn't finished. and there is still a lot to go over and sort out, its in the middle of being built, we're just putting the framwork in first then going from there.

    • 23 February 2011 14:28 PM
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    @ RIC, er the sites not live yet.... see previous comment "We're in the process of building a homeowners marketplace website called VerySmartMove.co.uk"

    We've had enquires to list homes, but until the site is finished being built we're not taking any homes at the moment.

    Also, when I said "oh well never mind" it was meant as in, we've tried our best, if it sells through us great, if not and its sold through an estate agent instead, then fine. we have lots of media streams at out disposal to get traffic to the site... there's only so much we'll be able to do, Esate Agents can't do lot reeally if you think about, your property in their window, the local newspaper and website... maybe the odd mail shot... who says we're not going to advertise in local newspapers, across the web and allow people to sign up with their own property requirements, the site isn't finished yet!

    • 23 February 2011 14:26 PM
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    Justin: Your site is live. It is missing most of the content, including Ts&Cs; Company and contact details. Isn't that illegal?

    In your post you say "...where for just £99 + vat homeowners can sell there property without the need for estate agents." That's not strictly correct, is it (and I'm not just referring to the spelling or grammar...)? You charge the Fee var-nigh upfront - to be paid within 14 days of listing the property - sale or no sale.

    Luckily for you there is no Property Website Claims Misdescriptions Act - maybe something that WHICH! need to look closer at methinks before recommending people blow money the way of 'Online Agents'...

    • 23 February 2011 14:25 PM
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    Justin,
    and i dont care for another 'wont sell your property for £99' site being promoted on an industry website (as you rightly say) for professionals. The title 'estate agent today' should give you a clue.

    • 23 February 2011 14:24 PM
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    @ Justin....thanks for the prompt on my error!

    @ Wardy...sorry the best of luck was meant for Justin.

    • 23 February 2011 14:22 PM
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    Sorry just noticed Justins last comment on one post "if not well never mind"

    Will that be in his advertising campaing £99 to sell your home, if dont never mind!

    A public statement of how much you actually care about the people you would be taking £99 from!

    I just had a look at your site and I struggled to find one property although it suggests you do have one in the 990+ locations you cover, how come you have not registered the other enquiries you have?

    • 23 February 2011 14:18 PM
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    You should all listen to PeeBee. S/he was the best agent in a 3 mile radius you know. Yes, you heard right, 3 whole miles.

    • 23 February 2011 14:18 PM
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    Ric: Knew it was you all along!! ;0) (well, at least when you told someone yesterday your name was Ric I figured it...)

    I am not lying when I say I am a non-Agent - however I have also made it clear in past that I am an EX-Agent with over 13 years on the tools from 1992 to 2006. The latter half of of those were in a non-residential discipline, although I was still very involved with the resi market, as I am now.

    Many would argue with you that I have an 'open view' on the Estate Agency industry, mind... ;0)

    What you will get out of me EVERY TIME is what I believe to be true, and right for the industry and the people it serves. Good Agency standards benefit EVERYBODY, especially those who offer them.

    I appreciate your words. Mine no doubt fall on some deaf ears - so be it. If something I say - as both a seller/buyer, and as someone who knows and lives the industry - makes a difference, then I can ask for no more.

    • 23 February 2011 14:13 PM
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    @ HD

    Thank you HD.

    • 23 February 2011 14:13 PM
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    @ RIC, Its actually us who is doing the £99+vat website, not Wardy. Just to clarify.

    • 23 February 2011 14:12 PM
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    Good luck with your venture Justin.

    • 23 February 2011 14:12 PM
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    Many of the houses sitting on the market for "ages" are as a result of a lack of lending rather than the asking prices, people make offers such is the simplicity of the great british market so quite frankly as long as an asking price is getting viewings any decent agent will still sell the property as they will simply ask a buyer to offer what they think it is worth and a vendor will choose to take the offer which is at or higher than their bottom line!

    Only really non proactive estate agents or property people would run with the idea of if the property is not priced at the bottom end of its potential price range it will sit for ages.

    If I sold a property in the first 2 days I usually think "oh...sh1t" could I have got more, a natural reaction to get a better price for the person who pays me to get them the best price.

    @wardy I wish you the best of luck with your website....but (with respect) I would urge you to research the very thousands of attempts to be a £99 agent which have failed and by some of the very biggest names in the commercial world. That said you may be the first to crack this idea!

    • 23 February 2011 14:10 PM
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    Looks like private selling is coming of age as is the norm in other countries, a new generation of canny homesellers will now see that it's possible to market your home nationally thanks to Tepilo and social networking media, the writing could be on the wall forsome bricks and mortor agents in the future, high street agents will always have a place but their market share must fall surely, private selling sites are springing up weekly it seems.

    • 23 February 2011 14:08 PM
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    @ HD

    Target would be all home / property owners, location all of the UK, we're based in the NW so we'll start up here using social media etc to start pushing the word out and go from there. eventually we'll use other forms of media to get the name out there, but its still early days.

    • 23 February 2011 14:04 PM
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    Hi Justin

    Who is your target? Is it just London?

    And how do you plan for the word to get out regarding your website, as it seems as though your business model would involve a huge volume of listings along with very high advertsing costs?

    • 23 February 2011 14:00 PM
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    @wardy : Don't really care for your attitude, thanks all the same. Thought this was a professional website, obviously not.

    We've got interest from people already looking to add their properties as well as with estate agents to give themselves more choice and if they sell their property via us and save themselves maybe a few thousand pounds in commission, then great, if not, well.. never mind.

    • 23 February 2011 13:56 PM
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    @Anna

    Interesting post. What site did your friend use?

    • 23 February 2011 13:51 PM
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    @wardy

    And any monkey can over-price causing the property to sit on the market for months. Something many vendors are finding out at the moment.

    I guess it depends whether you really want to sell or are just testing the water. In any case, it's really not difficult to decide on your asking price.

    • 23 February 2011 13:48 PM
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    Here in Spain everyone tries to sell directly and avoid the 5% commission to the agent. In the UK it seems to be such a slow process to catch on and I have no idea why because with property thin on the ground in the South East it is easy. A friend advertised privately her property in Sonning last year and it sold within 2 days to the first couple that saw it. She saved a lot of money.......Most people use the internet to search for their new property so we just need a brand to catch on like RM did......

    • 23 February 2011 13:42 PM
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    Justin,
    did you by the domain name dumassmove.com as well?

    • 23 February 2011 13:41 PM
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    @Everyone... We're in the process of building a homeowners marketplace website called VerySmartMove.co.uk where for just £99 + vat homeowners can sell there property without the need for estate agents. I've sold property in London and the fee's were huge... some estate agents % fees are simply far to high. This is why we've set up VerySmartMove.co.uk to allow people to keep as much of their equity as possible.

    • 23 February 2011 13:33 PM
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    why would you want to price attractively?. Why not throw everything including the kitchen sink at the marketing and get the best price, not the attractive one?
    Any monkey can sell under market value.

    • 23 February 2011 13:24 PM
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    @wardy

    I see your point about rotating etc but at the end of the day, money talks. If you price it attractively it'll stand out, get the traffic and sell.

    • 23 February 2011 13:02 PM
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    Vendors don't want cheap they want to sell and do pay higher for better service, its just how the agent delivers the sales pitch and the after service.

    In place of the seller - do you want a singular agent who runs down the competition at £495-£995 OR would you rather the agent who compliments other agents as they work with them. If Jo Punter is offered you as main agent at 1% and for an extra 0.5% - 1% (so 1.5-2%) that you will place his/her property on with 3-4 other local agents on different websites to hit all the main searches, plus be in more local agents windows or outlets with a view to at worse pay nothing if they don't sell, or to pay a little more if you via your sub agents get more in the door - faster and at a better offer price, then agents those of you who collaborate - well done - those who go it alone youve a lot to learn.

    Agents 1/2 of something is better than nothing - work together why do you think the US agents charge more. Working together means more listings to offer and sharing portals costs keeps money in your pockets.

    And if your a virtual agent check out our www.remoteagent.co.uk its a vitual estate agents window that can be placed in a high footfall local shop.

    • 23 February 2011 13:00 PM
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    Johnny,
    Unfortunately you are displaying the typical vendor view, that being 'I think that if you use one that includes a Rightmove listing you won't go far wrong'.
    Adds that agents put on rightmove can vary hugely. Poor listings can gain little to no traffic what so ever where as a good add can literally triple the traffic that listing gets. A couple of pictures and a brief description does not cut the mustard anymore. Once the listing is up it needs to be rotated and changed regularly or it will soon go stail. Like I said before even with this close monitoring of your listings it still doesn’t account for half the marketing potential a good agent can offer. Rightmove is not enough on its own, not by a long chalk.

    • 23 February 2011 12:55 PM
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    @PeeBee, after reading many of your posts one of which you kindly supported my views recently. (unfortunately I went under the name "Qualified Agent" which was only on the basis of the debate!) it is refreshing to see someone as a Non Agent as you previously described yourself with such an open view on our industry!

    @Jonny @Bob, I agree with Jonny there is so much information out there to value your own home! However what for the information a Agent can give you in the knowledge a buyer has a particular purse to spend and would pay more for the right house in the right location...please dont hate me for suggesting you could sell someone your house for more than it may be worth to the right buyer (after all, a buyer does not have to pay a price they choose too and a house is worth what someone will pay) but what valuable insight are you missing by not calling an agent who may geniunely have ready willing and able buyers happy to pay a premium for the right house! Something no price comparison site can offer you!

    Perhaps more sliding fee scales should be the way forward, 1.5% if we get you the "you never will price" 1% if we get you the "better than you expected price" and if you give the house away below a percieved market value then lower fee again! It works for me alot of the time! and shows the client my motivation to get the best price for them.....remembering NSNF I take nothing up front and get nothing if I dont sell.

    But as I said on my last comment check out the Which guide to choosing your estate agents....and do a "they do" "they dont" exercise on online -v- high street.

    • 23 February 2011 12:28 PM
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    Very Important any potential vendors should read another Which article currently available on the Which website!

    After commenting on this post I decided to look at Which. Usually I have always done my own homework in the past when I want something anyway thought I would give it a go based on this thread and the fact did not feel it fair to slander Which without checking the "other side of the story"

    so

    I typed in Estate Agents in their Search box and voila....1st result is a great little piece.......although confusing based on the title of this thread!

    One quote from the article is:-

    Once you've identified the agents who have sold properties similar to yours, call into their offices. Firstly, visit as a buyer interested in properties like your own, so you can talk to the staff and see how happy you would be if they were selling your property.

    The whole piece focuses on compare what you get for your money, interestingly what they consider to be "standard services" and some" bolt ons" are NOT offered by MOST online agents, they say use an agent Established in the early 1990's (We were but not entirely sure that should be THE deciding factor)

    Basically if you do their research to the tee! I am not convinced you would use an online agent!

    Well worth a read and I thank "Which" for this article! (Hate to say it after my earlier rant about them! but this is more like the advice this type of media should be giving!)

    Perhaps EAT would like to post this Which Article as a story....balance things out a little! On the lines of "How to Choose the Right Estate Agent"

    Copy paste this link and see what you think - http://www.which.co.uk/money/mortgages-and-property/guides/finding-the-best-estate-agent/

    • 23 February 2011 12:11 PM
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    Bob: Link to the full story? Did you notice THIS at the bottom of the link page you provided -

    "Article courtesy of Estate Agent Today"

    I would be obliged if you would enlighten us as to what interesting reading it gives you as a potential seller. Speaking, as I am, a COMMITTED seller, your views as what to make of this would be of great interest to me.

    I am certain that Estate Agents would also benefit from the information...

    • 23 February 2011 11:53 AM
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    @Bob

    I think that if you use one that includes a Rightmove listing you won't go far wrong. The suggestion that it might take longer is a red herring since the main thing causing property to sit on the market is EA over-pricing in order to win an instruction. I would dare to suggest that if you price realistically, you might sell much more quickly. With all the available information it is not hard to come up with a marketing price.

    • 23 February 2011 11:39 AM
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    Just seen this link to the full story:

    http://www.rman.co.uk/article_which-tells-sellers-to-choose-cheapest-online-agents-4357.html

    Makes very interesting reading for myself as a potential seller

    • 23 February 2011 11:27 AM
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    Which magazine...........The very same organization that was always the advocate of equitable life.(we all know how that turned out). Equitable life didnt pay commission to hungry sales people !!!!! and nearly always featured as a recomendation on any Which report. In essence, in my opinion "Which" is normally uniformed and only looks at things on a face value basis. I also think personally that Its only read in the main by the very people you probably wouldnt want as clients anyway.

    • 23 February 2011 10:58 AM
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    Hi Wardy

    Totally agree, we are a 3 office outfit and still sell so many houses via the local paper!, walk ins etc, I have countless letters from people who say without my staff they have no idea who they would have coped without us fighting their corner, there is a place for the online agent, though I must agree, as I would rather there be somewhere for the "I want it all, but dont want to pay for it vendors" to turn to when they want to sell, it ensures a quality of service for the ones who recognise quality! Sounds like your business works the same way!

    Hi The Move

    Hi there, not saying online agents are "no good" and certainly not slagging them off, just saying I think "Which" could possible point out cheap -v- value for money! as cheapest is not always best!

    Unless the online agency model offers start to finish negotiations, accompanied viewings, a face to meet when the person needing help can not communicate via normal means ie disability etc, then then it is merely a AutoTrader mentality of pick a price and hope the phone rings!

    With reference to the profit comment I assume you mean EVERYONE is in it for profit rather than just the high street agents and corps! I am not sure there is a property related profession in the world whos business model is to end up in the red at the end of the year.

    I acutally tell every vendor I meet on a valuation, that my sole ambition to to make as much money as I can out of them, "honestly" most vendors when you explain every £100 extra for me is £10k extra for them love the idea of the "proft" they make out of that deal! I have not met a vendor yet in 20 years who has suggested they expected us to be doing our job for free.

    Online agencies merely spend less to make less but still aim to be in profit and the end of it. (I only say this as I am a little unsure if who you meant was in it for profit!)

    • 23 February 2011 10:37 AM
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    I am getting a bit sick and tired of comments from organisations such as this that it is easy for an owner to sell their property themselves. I am an Estate Agent and could not even start to count the number of times I have been involved in disputes & problems relating to sales that only experience and knowledge have enabled me to resolve. My clients have commented that they did not realise could be so involved - funny how we never hear about their views, or the thousands of sellers who will be very happy if not delighted with the work their estate agent has carried out for them.
    We have a local estate agent who offers a fixed fee of £600 for estate agency fees, but they offer no service at all for this. They simply pass viewers numbers on to the seller who then phones to arrange a viewing and negotiate the sale themselves. This in my view is much worse - they charge £600 for taking some phone calls and nothing much else. So if an agent is besically letting you sell a property yourself, why are they charging any Estate Agency fees at all? They should only be charging advertising costs.
    It is such a joy to read opinions from Which like this - I arrived in the office today at 7.30am, will work all day phoning, e-mailing and chasing up both sellers and buyers, carry out my last viewing appointment at 9pm because the viewer can't make any other time, and then go home to bed so I can start all over again tomorrow. And these idiots at Which (who have obviously never spent time in a busy estate agent branch or they would not have this opinion) say we don't earn the fees we charge. If Which are going to preach to the public how to do things, they should ensure they check the facts!!! I am sure the public who used to be tricked into subscribing to their magazine for months on end after taking a free trial, are probably less than happy about their service. People in glass houses...

    • 23 February 2011 10:23 AM
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    The one question I have for vendors when ALL the agents are online and charge £250 to sell your house is:

    "Whose going to value your house for you?"

    Coz you won't get "free market appraisals" any more.

    The REAL skill of an agent is to get better than market price - even if that better is just a few pounds.

    Then they help the sale go through (a good agent that is).

    I work in a high street where the two major players will do it for free if they have to, to stop the other one getting the instruction. I know this is true, because I used to be the valuer for one of them.

    Mental? The owner didn't think so.

    I disagreed which is why I now own the agency across the road that does far less volume but at much, much higher fees. I take home more money now...

    • 23 February 2011 10:15 AM
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    Just because its expensive doesnt make it good nor just cheap make it bad however the reverse also applies.
    Which are an outdated consumer focus who dont rate on anything but cost.

    As noted there are many other factors that people pay for - if it was about just sticking it on the internet then rightmove would operate in that fashion and Tesco would have been in the trough years ago.

    I not that which uses guesswork figures for fees even though most areas I know of you can get a good local agent for 1% on no sale no fee - that would be better value that £500 regardless of acheiving a sale.

    Also people still pay 2% to National agents when all of this is available.

    More cheap twaddle from Which? to justify its own existance - go back to commenting on whats the best kettle to buy as you've not got that right yet - I followed your advice and it lasted 6 months but it was cheap!

    • 23 February 2011 09:56 AM
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    Aboot time too. Every one slags off online estate agents because that is the norm. The 2 largest single organisations in the UK are now online.

    We are moving that way as well. We shut our high st office saving us over £90K per annum and pass the saving on. We still run the estate agency model as high street agents but are able to do it a lot cheaper and the directors still earn good dividends.

    Most of the EA's in the UK are corporates and lets be HONEST PROFIT is the SOLE AIM.

    • 23 February 2011 09:50 AM
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    Hi Ric,
    We are a one shop independent.
    A recent audit showed 65% of our sales came from an online source. The rest were introduced by boards, magazines and good old fashioned walk ins. Our argument since then has always been, if you choose an online only agent you are missing out on 35% of the market share. Even more if the advert is pants.

    • 23 February 2011 09:46 AM
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    People could always choose from two of the local agents in my area

    One charges £250 no sale no fee when they open an office and run it for months - building market share and not offering any sensible service

    or the other that charges a half of one percent

    On-line is not the the only way

    • 23 February 2011 09:44 AM
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    Its the same old story...you get what you pay for. If you go for cheap and chirpy dont cry when you do not receive the service or advise you had expected. The cheaper options have no interest in achieveing top ptice as they have a fixed fee regadless of the price agreed whereas an agent on a percentage is motivated to get the best price possible for the client. Also obtaining a buyer is only 1/2 the job...what happens when there is a problem and the sale is hanging in the balance? A "proper" agent will have the skill to save the deal whereas the bucket shop Agent wont. Happy Selling.

    • 23 February 2011 09:36 AM
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    What sells property (just like anything else) is an ad that people can see and an attractive asking price. It really is that simple. The problem so far is that there is no clear market leader, no Rightmove for private sales. Once one becomes established we will see many more people choosing to sell this way.

    • 23 February 2011 09:36 AM
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    Agreed sellers should shop around for the best deal on all aspects of buying and selling but from top to bottom it should "which" should really promote on ensuring the best value for money option is taken.

    I have a local online agent who does okay in terms of getting a few on the market but never many sold.......he has one devoted client who has lost a few houses we have sold in the 6 months they have been trying to sell and since registered as a buyer with us, reason they are devoted to the Online Agent they tell me is a one off up front fee they have paid! They dont agree with our 1% (£150k property) yet the £499 plus vat they have spent was seemingly well worth the money.

    My Question: Is that up front online agent motivated to finish the job? and can you just rely on the internet to sell a property?

    There must be evidence that not everyone who purchased a house in the past 12 months had access to the internet...so is there evidence that an online only Agent is not enough to leave no stone unturned in trying to find a buyer?

    Currently the £499 in return for nothing seems somewhat more expensive than a precentage fee motivated to get the best price and the cash in based on NSNF.....shouldnt the motivation remain on the Agents shoulders.........?

    • 23 February 2011 08:51 AM
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