Things to Know Before Going to a Cheap Estate Agent in London

An estate agent is a person who facilitates the buying, selling, renting and management of a property. They are mainly engaged in marketing the properties that are listed with them. A good marketing campaign can help you get the best price for your property. They take the help of solicitors for legal matters. However, it is quite a challenge to find a cheap estate agents London.

Primitive but still a popular medium of buying and selling properties in London. There various reasons as to why they are still so popular. It is mainly because they save you a lot of hassle in paper work and legal matters. They save your precious time and effort. In some cases, a good estate agent might even be able to fetch you a higher price for a property than what your expectations were.

Understand these to tackle an estate agent:

Agency fees-

UK Home Buyers must know that a good estate agency will always charge you a reasonable fee that cannot go higher than 3% of your property value [2.5% + VAT]. Some have a fixed fee policy, but they are mainly available on properties of valued at a price lower than £100000. Compared to global standards, UK agents are considered the cheapest in the world.

‘No sale no fee’ policy-

This is a popular tact used by many estate agents to attract listings. But the fact of the matter is that they actually charge you more than whatever their upfront policy is. In some cases they can even charge double their normal fee. So, it is important to compare fee structures before opting for this scheme.

Fee quotation-

The British law dictates that all estate agents must quote their price inclusive of VAT. It is important to remember this fact because some agents might be inclined to use deceitful tactics to raise their fees.

Clear breakdown of charges-

They are obliged by law to explain all the fees that they charge. They must provide you with a written document that explains the various fees that they charge you with.

Negotiation-

The law also empowers you to haggle. If you are not satisfied with the way you are charged, you must try to negotiate a better deal. There is no law in UK that restricts you to negotiate with an estate agent.

The most important thing to remember when you deal with estate agents London is that you must not let them put you in an uncomfortable position. There are numerous good agents for quick property sale London; know that you have a lot of choice.