Let’s get this straight from the start. Yes, of course, you can negotiate with an Estate Agent. Ultimately, when it comes down to it, Estate Agents need the property seller, more than the property seller needs the Estate Agent. It is your house, after all!
However, all too often, property sellers do not think to haggle with an Estate Agent over their estate agency fees. Even the most dedicated bargain hunters out there are not always aware that Estate Agency fees are/can be negotiable.
What your estate agent should consider…
That said, when it comes to negotiating with your Estate Agent, you should consider:
Other competitor estate agency fees
When it comes to negotiating effectively, it would be beneficial to do some research about other estate agency fees in your area, and make your bid just slightly under these, rather than reaching for some random number that an estate agent will never agree to.
Be clever. Do your research and gain a clear understanding about what you should be able to achieve from your negotiation.
Where you live
Be aware that part of the Estate Agency fee is widely considered on where you live. Estate agency fees in sought-after locations and major cities, like London for example, are higher than other areas of the UK.
The status of the estate agent
Generally, large, corporate estate agents that are part of a chain are more difficult (although not impossible!) to haggle with in comparison to smaller and local estate agents.
While estate agents do not want to turn away business, corporate estate agents often have certain targets to hit, agreed from head office, and therefore are extremely difficult to negotiate with.
Therefore, you may want to consider what type of estate agent you are opting for, when it comes to putting forward your price.
If the ability to negotiate your estate agency fee price is a priority to you as a seller, then you may want to opt for a smaller chain of estate agents, that are perhaps local to your area. These estate agents, although often cheaper, can be better than agents within a large estate agency company.
Make sure you meet with a few estate agents and get to know which estate agent you think will be right for your particular property selling needs. Many estate agents will try to put your property on the market on their first meeting in order to eliminate any competition, but take heed, and time, and make sure you are in control over the estate agent you choose.
The property selling process takes time, after all, and there is no need to fall at the first hurdle.
Increase your chances to negotiate with an Estate Agent and be successful
Having a well-presented home can vastly increase your chances of having a successful negotiation with an estate agent. What’s more, be persistent. Feeble attempts to negotiate with an estate agent will result in very little success.
Our advice: Be savvy, confident and assertive and you’re likely to succeed in your estate agency fee negotiation efforts.