With low-fee and even no-fee estate agents popping up on TV adverts and online, some sellers may feel tempted by the promise of a bargain service. However, at Cobbles, we feel that good service, realistic offers and prompt action are as important to consider as the question of fees. 

In this blog, we look at the real cost of using a low-fee or no-fee agent, and what you should consider when you’re choosing which agent to instruct. 

How do low-fee agents make money?

The way that low-fee agents usually work is that they charge little or nothing for their basic service, and then charge separately for everything else.  This means it’s important to check what is included and what you will have to budget for separately. Often the basic service is simply listing the property, and you could end up paying separately for services most high street agents offer as standard, such as photography and house viewings. 

What should you consider when choosing an estate agent?

Depending on why you are selling your property, the fee you pay your agent might be an important consideration. If that’s the case, we always recommend doing your research first. For example, you might be prepared to instruct a no-fee agent and take time off work to conduct your own viewings. But if your house doesn’t sell, it will already have cost you either earnings or annual leave, and you’ll still have to pay fees to a high street agent when you’re forced to relist the property. In other words, “buy cheap, buy twice.” 

Often, if you do pay for the “extras” offered by a low-fee agent, this is an upfront fee which is not usually refundable if your property doesn’t sell. Paying an upfront fee can mean that the seller is more motivated about the sale than the agent is – a recipe for disaster. 

Instead of looking at the fee percentage, the more useful percentage to consider is the proportion of properties that the agent has sold. Choose an agent with a good track record – when your house sells quickly and for the right price, that agent will have been worth every penny. A good agent will have your best interests at heart and because you don’t pay until the sale goes through, they’ll be 100% motivated to sell your property. 

We also recommend meeting several estate agents and choosing the one you get along with. House-selling can be stressful so it’s important to work with someone you feel comfortable with. 

Sell your Guildford property with the right agent for you

We hope our insights will help you choose the right estate agent for you…and we hope you’ll choose us! To find out more about how Cobbles can help you sell your Guildford property, get in touch today on 01483 457 000 – we’d love to hear from you.