HOA launches campaign to make estate agent fees transparent
We call on all responsible agents to publish their fees upfront
March 15, 2013 | post last updated on December 21st, 2016
Estate agent fees are a murky world of unknowns. There is little regulation to protect the inexperienced and it is one of the few areas of British life where haggling is normal. Yet for many haggling is unnatural which leaves them completely open to unscrupulous agents who can charge whatever they like
As we all know house prices have rocketed over the last two decades but there has been no obvious drop in estate agents fees. It takes no more effort to sell a home in 1995 priced at £50,000, than it does to sell a home in 2013 priced at £200,000, but a 2% commission on both means a huge pay hike.
Obviously not all agents are out to exploit people. The majority are providing an important service. What we want is for the cost of this service to be open and transparent. That way there will be competition between agents driving down the costs for homeowners.
We want to find what your experiences of estate agents’ fees. Please take a couple of minutes to fill out this survey