I am in the process of putting a house on sale in London, and I thought I may have gone a bit OTT as I had invited 7 local estate agents round, but to be honest, I am glad I did as their opinions and costs are so different, it was worthwhile looking around.
I was really shocked at the variation in valuation price and estate agents' fees. I was expecting valuation price variation, but not as much as 14% and I was very surprised at the huge difference in fees and tie in period.
Here are what I have so far, so I am really stumped. It just goes to show that you should shop around when you put a property on sale and it can be very difficult to derive the value of a property if estate agents' valuation vary so widely.
Agent 1 - £1,150,000 to £1,250,000 - advised to put the house on at £1.250m and see what happens as I can always reduce the price but I can't increase the price. 2% + VAT fee with 12 weeks tie in
Agent 2 - £1,150,000 to £1,250,000 so same as above but advised to put house on with this bracket as a guide price, expecting the eventual sale price to fall within the range. 2% + VAT fee, but negotiable with negotiable tie in period
Agent 3 - £1,100,000. 1.5% + VAT fee with 6 weeks tie in period
Agent 4 - £1,100,000. But happy to put it in at a higher price. 1.25% + VAT fee with 28 days tie in period
Agent 5 - £1,100,000. 2.5% + VAT fee with 12 weeks tie in period but willing to negotiate on tie in period