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Warning - Up Front Agency Fees

Warning - Up Front Agency Fees

If you’re thinking of moving, beware of agents who advertise a surprisingly low commission to entice you, as a prospective seller, to invite them to your home with a view to listing your property with them. They might even offer to throw in the VAT, conveyancing and other costs! Smell a rat?

The “deal” is that, in return for the low fixed fee, you are required to pay the agent’s fees up front. This is totally contrary to the concept of having an agent who is 100% on your side and fully motivated to sell your home, as quickly as possible and for the highest price the market will pay. What better way to support a lazy agent!

The agent will of course tell you that buyers come from the internet nowadays. They’ll tell you that their use of technology enables them to achieve cost savings, which they pass on to their clients. Nonsense. Technology frees up time so that expert negotiators can do more of what they do best – sell, negotiate, nurture and facilitate linked property transactions.

But it gets worse! During your meeting, the agent may then try to sell you other services, such as accompanied viewings, negotiation, sales progression support, a for sale board, etc for an additional fee. These costs add up and sellers can end up paying, in advance, the same, if not higher, levels of commission than they would have paid with a regular agent, who would have only charged on results! Some online agents even try to get you to sign a credit agreement to cover their costs! So you now have an unexpected loan agreement as well

If you put your property with us, there are no up front fees or any hidden costs, just a no sale no fee policy and fees are paid upon legal completion of the property.   Give us a call for a free no obligation valuation.