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Where do estate agents charge the highest commission?

A comparison website dealing with estate agency charges says commission varies hugely across 20 major cities of the UK. 

GetAgent looked at the average fee charged across the locations and what this equates to based on the current average house price - following the large capital appreciation of the past year or more.

Despite a sluggish time for the London market, the capital still sits top where the highest fee to sell a home is concerned.

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At 1.7 per cent London is not only home to the highest percentage fee, but with an average property price of £525,893 it also ranks top in monetary terms at a typical £8,940.

The second-highest cost to sell is found in Cambridge and Oxford, where despite only charging a 1.1 per cent fee, estate agents take home £5,426 and £4,711 respectively due to the higher cost of property.

Bournemouth also ranks within the top five, where the average agent earns £3,768 from the average fee of 1.2 per cent, while the same percentage fee in Bristol equates to a cost of £3,690.

At the other end of the table, Glasgow is currently the most affordable of the 20 cities under review: a 1.1 per cent fee charged on the average property price of £162,081 equates to just £1,783.

Bradford (£1,873), Newcastle (£1,957), Nottingham (£2,233) and Liverpool (£2,304) also rank amongst the most affordable cities to sell in the current market.

GetAgent founder Colby Short says: “It’s a great time to be a homeowner, particularly if you’re thinking about selling up, as the likelihood is that the value of your home has climbed considerably over the last year to 18 months.

“It’s important to remember that this will also increase the fee you’re likely to pay when it comes to selling and this can range anywhere from a few thousand pounds, to nearly ten thousand, depending on where you live and the market value of your home.

“When looking to sell, it’s always important to shop around and see what each agent is charging in fees and then get a good idea of what this will equate to in pounds and pence when you do come to putting your home on the market.”

Location

Average agent fee %

Average house price

Average fee £

London

1.7%

£525,893

£8,940

Cambridge

1.1%

£493,297

£5,426

Oxford

1.1%

£428,298

£4,711

Bournemouth

1.2%

£313,983

£3,768

Bristol

1.2%

£307,523

£3,690

Edinburgh

1.0%

£314,042

£3,140

Birmingham

1.4%

£209,176

£2,928

Cardiff

1.2%

£241,321

£2,896

Leeds

1.3%

£216,580

£2,816

Portsmouth

1.2%

£227,590

£2,731

Leicester

1.3%

£206,498

£2,684

Southampton

1.2%

£220,826

£2,650

Manchester

1.3%

£203,835

£2,650

Plymouth

1.3%

£197,944

£2,573

Sheffield

1.2%

£192,236

£2,307

Liverpool

1.4%

£164,550

£2,304

Nottingham

1.3%

£171,762

£2,233

Newcastle

1.1%

£177,877

£1,957

Bradford

1.2%

£156,076

£1,873

Glasgow

1.1%

£162,081

£1,783

Average fee sourced from GetAgent.co.uk (Nov 2021) and applied to the latest UK House Price Index (Aug 2021)

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    Where do GetAgent get their data from? Must be a source who gets to see sales fee invoices surely?

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