Estate agents fed up with having to justify their fees in the face of ‘commisery’ criticism by fixed-fee hybrids like Purplebricks can take solace from a new report published by comparison site GetAgent.
It has canvassed selling rates across the EU and discovered that the UK is the cheapest among all the 28 member states. Or at least it will be until we leave.
GetAgent says it reckons the average sales fee charged by UK sales agents excluding VAT is 1.2%, much lower than our nearest rivals for good value, Denmark (1.25%) and Ireland (1.75%).
The three most expensive, by comparison, are Romania (6%), Malta (6%) and both Cyprus and France at 5%, although the lower average house price in these countries compared to the UK mean the overall commissoin paid is likely to be lower.
“I think it’s fair to say that estate agents in the UK have a tough time of it when it comes to justifying their fees, with the predominant opinion being that they charge to much for the service provided,” says GetAgent CEO Colby Short (left).
“This really isn’t the case and as this research shows, the UK is actually home to the lowest estate agent fees in the EU and therefore you could argue, the best service as well.
“So while you consider if three to four thousand pounds is a justifiable spend when selling a property for hundreds of thousands, remember you could be paying upward of ten thousand if you were to live in another area of the EU.”
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