With an ever-increasing number of “Fixed Fee” agents popping up offering “No Commission” we thought we would take this opportunity to clarify a few points.
In the Estate Agency world, we get paid for selling or letting a property – whether this is a fixed fee or a percentage this is still commission. Would you agree?
Commission Definition – “a fee paid to an agent or employee for transacting a piece of business or performing a service especially: an amount of the money received from a total paid to the agent responsible for the business’ – https://www.merriam-webster.com/dictionary/commission
In the UK, estate agency fees are much lower than the USA or Europe, where agents routinely charge around 7% however, we always do our very best to get you the best price possible – this month Halliday Homes averaged 13.4% over asking price per property!!
As a responsible Estate Agent, we feel the issue of “No Commission” needs to be highlighted and clarified. Many agents will say nothing as they fear being too vocal, but as we always act in our clients’ best interests, we feel it is important to spread the word.
Regardless of “Commission”, or “Fixed Fees”, an agent should be able to justify why they charge a specific fee – if your agent offers low-cost fees with little to no incentive, do you think they are working to get you the best price?