One in nine people believe estate agents charge 10% or more

Only four per cent of people in the UK who have sold a home have used an online agent claims bricks and mortar agency Haart. 

In a survey of 700 people it claims some 82 per cent who sold through a traditional agency were either satisfied or very satisfied with the experience, while 88 per cent say having a face-to-face meeting with an estate agent was very important or important to the process.

The survey also revealed that most people believe using a traditional high street estate agent can add five per cent to the value of their client’s home. “Getting the best price” was the top factor for people saying why they would select a traditional estate agent. 

However, the survey appeared to show mistaken public perceptions on traditional agents’ fees. Some 76 per cent of people believed the fees to be higher than the average 1.0 to 2.0 per cent; one in nine people believed agents charged 10 per cent or more.

“Estate agents charge a fee for a skilled service which often includes deployment of expert negotiation skills to keep property chains together – and that fee is much lower than most people believe. It’s also not a flat rate with a seller only paying if their home is in fact sold. This means high street estate agents will work really hard and are motivated to achieve the best possible price for their clients” says Haart chief executive Paul Smith.