Make sure you check what is included in the estate agent`s fee, and when you pay for assisting to sell your property.
Most high street estate agents have a „no sale no fee“ deal and charge a percentage of the sales price. The average UK estate agency fee is generally around 1-1.5% + VAT.
96% of all house sellers use traditional high street estate agents. Using more than one estate agent will have you quoted a higher fee which is usually between 2 and 3% +VAT.
Most online agents charge a fixed fee, which typically works out cheaper than paying a percentage. But beware, it may come to be a lot more expensive than you’d hoped. The agency may charge extra fees for services you never imagined. An agent whose commission is calculated as a percentage of the sale price of your property, is likely to go all out to get you the best offer possible!
All estate agents are obliged to ensure all fees and charges are quoted inclusive of VAT.
Most estate agents’ fees are payable upon completion of a house sale. The agent will send their invoice to your solicitor, who will pay them out of the proceeds from your sale.
However, some estate agents will require payment upfront. This is more common for those who operate on a fixed-fee basis.
Whatever the contract says about when the fees are due, if you are late in paying them, interest will probably be charged.