Everyone is always on the look-out for a bargain, and in today’s uncertain economic times it’s completely understandable that price is a big factor in people’s decision-making.
But when it comes to choosing estate agents, it’s important to delve a bit deeper than the headline percentage figure.
Let’s look at an example of a house in Kidderminster on the market for £500,000. Estate agent A, which has a track record of achieving the maximum asking price, is offering to sell it for a 2% fee, whereas estate agent B only wants 1% but often ends up achieving a lower asking price, say 98%.
If you do the sums, you will pay £10,000 for estate agent A’s services and they will sell your house for £500,000. Estate agent B may only cost you £5,000 but they may only sell your house for £490,000 – £10,000 less than agent A.
So the end result is that estate agent A actually earns you £5,000 MORE than agent B, even though it seems like a higher fee at the outset. It’s like anything in life – you get what you pay for, and when you are dealing with such a big investment as your house, it’s important to get it right.
For more advice about property in Kidderminster, give me a call on 01562 745082.