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Estate Agent Fees

 
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Fees
Estate agent fees

If you decide to use an estate agent to sell your property you will incur extra costs. The cost will depend on whether you select a multiple agency or a sole agency. With a sole agency, only this agent has the right to sell your property.

If you find your own buyer then you will not have to pay commission but you may still have to pay for advertising costs and for the 'for sale' board. Multiple agencies allow you to advertise with more than one agent, the agent that sells the property gets the commission.

The only thing with multiple agencies is that the commission percentage tends to be higher than with a sole agency. How much you are required to pay and when you are to pay will be outlined to you by your chosen estate agent before you sign any contracts. Your estate agent will tell this is what is in included in the charge, whether it includes the 'for sale' boards and advertising or if this is an extra charge. Some estate agents charge a fixed rate instead of a percentage.

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If you opt for a 'ready, willing and able' purchaser contract, this is if the agent finds a buyer who is ready and able to exchange unconditional contracts you must pay up. The disadvantage with this contract is that if you back out, you still have to pay the commission,and possibly the advertising and 'for sale' boards charge. It is best not to give your agent sole selling rights because if you end up finding your own buyer and selling privately you'll still have to pay commission.



Review all your options and finances before you make a decision.