Submit your question
To find out how we use your personal information, please click here.

Estate Agent Fees 

How much should you pay an estate? Can you set an agreed fee prior to instruction? 'Honest Answer' presenter Sarah Walker asks the Knight Frank property panel why estate agent fees are so high and whether these fees are justified and negotiable.

Fees will vary depending on the type of incremental fee structure a client has agreed with the agency. Appointing a 'sole agent' results in lower costs while 'multiple agents' will charge more, James Pace, Head of Chelsea and South Kensington sales, explains. However, there is room for negotiation especially if an agent is desperate to win your business, but this is reflected in the level of service a client receives.

"Good agents will not only invest a lot of time and expertise into your property but will also invest money in the presentation of your property. Other agents will just be listing your property on a website, which costs them nothing", he explains.

Walker goes on to further probe the panel, asking whether estate agent fees can really be justified. Nick Loweth, Head of Berkshire sales, argues that a good agent's fees are justified given the amount of time and care they put into the sale of the property and the income they generate for the client on the successful sale of his or her property. However, he goes on to issue a caveat.

"Always beware of the agent that will quote you the lowest fee and the highest asking price," he warns". You may be worse off for it and you get what you pay for".

Loweth later goes on the say that a good estate agent's fees are, to a point, negotiable given the competition but the cheapest agent may not be the best agent.

To find out more about estate agent fees watch the video or contact us to ask us a question.