UK agent's commission a real bargain by comparison !
Recent research into commission charged by Estate Agents suggests that British agents are amongst the best value anywhere in the world.
Six months ago “Estate Agency Today” looked at fees in nine countries in addition to the UK; now they have updated those nine in the light of recovering housing markets, and have looked additionally at three new locations.
Although the figures have slightly changed, the broad result is the same: British agents – typically charging anything from 1.00 % to 2.5 % in the current market – are remarkably low cost by international standards.
Here are the figures:
- Australia 3.5 per cent at least;
- Canada 3.0 % in cities, up to 5.00 % in rural areas;
- Denmark 5.00 %
- France 6.00 %
- Germany 3.00 % to 7.00 %
- Ireland 3.00 % or higher
- Italy 3.00 % or higher;
- Netherlands 5.00 % or higher;
- Spain 6.0 % or higher;
- Sweden 4.00 %
- Switzerland 4.5 % to 10.0 %
- United States 6.00 % to 10.0 %
This list was compiled by contacting agents and their professional associations in these countries, but direct comparisons may have hidden dangers.
For example, agents in every country have discretion to discount their fees, especially in competitive markets. British house prices are generally higher than in most other countries so the absolute price paid to an agent is not necessarily less in Britain than in other countries overseas.
Likewise the kind of service provided also varies. In the US for example, realtors justify their high costs because of the obligatory (and sometimes costly) property, business and legal training they must undertake. Also, fees can be spread amongst several realtors when purchases are made through multi-listing system.
In Sweden and Denmark estate agents are more tightly regulated by law than in most other countries on the list. However the message is clear, the British agent is a bargain, so if you are thinking of selling, please ask about our commission terms and request a Free Valuation. 01993 779020