UK Estate Agent fees amongst the lowest in the world
The Estate & Letting Agents Association UK (ELAA-UK) has conducted research that shows UK agents charge some of the lowest fees in the world.
The association conducted the research as a part of it’s campaign to show consumers the many benefits of using a high street or ‘traditional’ agent. ELAA-UK aims to show consumers the value for money they receive when using a high street agent in the UK.
ELAA-UK said that ‘whilst we have seen that recently people are returning to being more focused on the services and results an estate or letting agent can achieve for them the fees agents charge is still a major topic of discussion. We think it is important to remind consumers that agents fees in the UK are amongst the lowest in the world and in our opinion represent great value for sellers.’
The research compared the fees for similar services to those you would expect from an agent in the UK and found that agents in some countries would charge up to 4 times more than the UK average.
The below extract from the research shows the some of the results:
USA Typically 6% but some agents do charge up to 8%
Canada 3% – 7%
Australia 4% + advertising fees
Romania 6%
France 5%
Malta 5%
Cyprus 5%
ELAA-UK states ‘You can see from the results that estate agents in the UK charge considerably less than their counterparts in other countries, add to this the fact that a good agent will be able to negotiate the best price for a seller possibly adding thousands of pounds to the final sale price and it is easy to see why UK agents offer some of the best value for money in the world.’
To see the full results of this research and to view more information and analysis from The Estate & Letting Agents Association UK visit www.ELAA-UK.org
You May Also Enjoy
Understanding House Value in the UK: A Simple Guide
What does latent defects insurance cover?
Breaking Property News – 24/04/24
An average rate of 6% for the first time since November – Rightmove’s weekly mortgage tracker
Understanding Property Valuation: A Simple Guide