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Estate Agencies


Tommok

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This makes no sense?

 

 

 

It does really.

 

You said they'd be paying 2.75% - Sammy is pointing out that is more than the actual Foxton's charge.

 

You also said that they'd be paying that "to have a Foxton's sign outside". Sammy is just pedantically pointing out that they'd be rather stupid to pay for (just) a board outside their house, as they'd be shelling out before/irrespective of their house being sold.

 

Hope this helps, old fella.

Edited by RP
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I had a few agents out last week. Stated rates were 1.25%-1.5%, with a clear implication that they may be willing to take our instruction at 1%.

 

 

All rates are plus VAT.

 

 

They also made it clear they would agree to shorter term contracts than publicly stated. I don't know just how short they'll go - I should find out today!

 

Seeing as sammya won't answer the question

 

http://foxtons-static.global.ssl.fastly.net/img/help/fees_and_terms/sell/foxtons_fees_and_terms_london.pdf

 

So it's 2.5% + VAT (or 3% as it's known)

 

 

 

Kin ell. Daylight robbery.

Edited by RP
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It does really.

 

You said they'd be paying 2.75% - Sammy is pointing out that is more than the actual Foxton's charge.

 

You also said that they'd be paying that "to have a Foxton's sign outside". Sammy is just pedantically pointing out that they'd be rather stupid to pay for (just) a board outside their house, as they'd be shelling out before/irrespective of their house being sold.

 

Hope this helps, old fella.

 

 

No I didn't. I was commenting on Cobs post and that he thinks they charge 2.75%. Slightly less by the look of it but in any event, even at 2.5% they're still miles dearer than the average and I was pointing out people will pay the extra money not least to have a Foxton's sign outside, the same applies to Hamptons Knight Frank and Rutley and Savils etc., it's just snobbery. These firms aren't any better than plenty of independents who charge half the rate but they're perceived to be upmarket partly because they're so dear, it's a bit like designer clothing labels and it's bollicks.

 

Sammy isn't just being pedantic about when fees are paid, practically every agent is' no sale no fee' and everybody knows that too, he's being a crafty wily old estate agent sticking up for his firm, either that or he believes the balls his employers pump out. I thought he was in lettings anyway, what the feck does he know?

Edited by Murphman
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No I didn't. I was commenting on Cobs post and that he thinks they charge 2.75%. Slightly less by the look of it but in any event, even at 2.5% they're still miles dearer than the average and I was pointing out people will pay the extra money not least to have a Foxton's sign outside, the same applies to Hamptons Knight Frank and Rutley and Savils etc., it's just snobbery. These firms aren't any better than plenty of independents who charge half the rate but they're perceived to be upmarket partly because they're so dear, it's a bit like designer clothing labels and it's bollicks.

 

Sammy isn't just being pedantic about when fees are paid, everybody is no sale no fee and everybody knows that too, he's being a crafty wily old estate agent, either that or he believes the balls his employers pump out. I thought he was in lettings anyway, what the feck does he know?

 

 

Go back and re-read the exchange, Murph - you've gone off at a tangent now. Maybe ask a (non senile) grown-up to help you where you get confused. :D

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No I didn't. I was commenting on Cobs post and that he thinks they charge 2.75%. Slightly less by the look of it but in any event, even at 2.5% t

 

it's not less though, is it?

 

It's more - it's 3%. That's what you pay. The fact 20% goes to the government is neither here nor there to the paying punter.

 

When you go into a pub the price of a pint isn't £2.50 plus VAT - it's £3 a pint. *

 

 

 

 

 

 

 

* example given for convenience sake - I appreciate pints are fecking miles more than £3 these days darn sarf.

 

 

 

 

 

 

 

 

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I had a few agents out last week. Stated rates were 1.25%-1.5%, with a clear implication that they may be willing to take our instruction at 1%.

 

 

All rates are plus VAT.

 

 

They also made it clear they would agree to shorter term contracts than publicly stated. I don't know just how short they'll go - I should find out today!

 

 

 

Thanks. I was reading about private and internet-only sales today. Only about £600 outlay but you do all the admin yourself, including viewings, which is a faff. If I had a couple of months off work, I'd think about it. Reckon that would be enough time to secure a sale round my way.

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Go back and re-read the exchange, Murph - you've gone off at a tangent now. Maybe ask a (non senile) grown-up to help you where you get confused. :D/>

 

I might, if I knew one? :)

 

it's not less though, is it?

 

It's more - it's 3%. That's what you pay. The fact 20% goes to the government is neither here nor there to the paying punter.

 

When you go into a pub the price of a pint isn't £2.50 plus VAT - it's £3 a pint. *.

 

Cobs. We agree largely, but VAT is applied on both 2.5% and 2.75%, it's a level playing field.

 

Depends if Murphy is there too. Whichever winds him and his Slough posse up the most.

 

 

What the feck has this to do with me?

 

Thanks. I was reading about private and internet-only sales today. Only about £600 outlay but you do all the admin yourself, including viewings, which is a faff. If I had a couple of months off work, I'd think about it. Reckon that would be enough time to secure a sale round my way.

 

 

Very possibly in this market, but the chances of you not get top dollar, getting f*cked about, riding the wrong horse and/or the chain breaking increases quite a bit I'd say.

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Agents do have a value - it's just nowhere near as high as they place on themselves.

 

Jeez, wtf happened to house prices? It really is a sellers market.

 

They've gone up even more than gold (and they keep the rain off better) in the last couple of years.

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Agents do have a value - it's just nowhere near as high as they place on themselves.

 

Jeez, wtf happened to house prices? It really is a sellers market.

 

They've gone up even more than gold (and they keep the rain off better) in the last couple of years.

 

It's crazy, even here in Dorset... Neighbour had his house on the market last year, took it off over the winter and has recently put it back on and the asking price has gone up by more than 100k :wacko:/>

 

In fact just checked and its 200k

Edited by Eskimo
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It's crazy, even here in Dorset... Neighbour had his house on the market last year, took it off over the winter and has recently put it back on and the asking price has gone up by more than 100k :wacko:/>

Coincidentally the house my wife and I sold in London 2 years ago (25 months to be exact) is back on the market a clear 40% up...... Bugger

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Agents do have a value - it's just nowhere near as high as they place on themselves.

 

Jeez, wtf happened to house prices? It really is a sellers market.

 

They've gone up even more than gold (and they keep the rain off better) in the last couple of years.

 

It is but it's all relative isn't it?

 

Our place has gone up by about £200 - £250k in 4 years (we've spent about 50k on making it look good), which is great but all the places we want to move have gone up by similar amounts so it's a decision between staying put or moving and spunking 20-odd grand on stamp duty.

 

Mate of mine bought a terraced house in Peckham for £300k a few years back, did it up and it's now worth about £600k.

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But at some point, when you can downsize, you're quids in.

 

It's tough/impossible if you're trying to move up the property ladder at the moment - and completely impossible to get on to it now, I'd have thought.

 

If we get the price the agents are talking about, I'll sell and rent for a while, wait for this help to buy bubble to properly burst and the mortgage reviews to bite. The last two houses he has had on the market similar to mine have gone to 'sealed bids' effectively. That's a decent enough sign for me that prices have gone too far.

 

And if prices go up while we're renting, well I guess we'll just buy a smaller house next year. But I bet they don't.

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Yeah. The increases surely only mean anything if or when you're downsizing or moving to a significantly cheaper area. Otherwise, the next place you're thinking of buying has gone up by a similar order of magnitude to the one you're in.

 

And all of a sudden all those fees you're paying on a percentage basis are an awful lot bigger than the last time you moved. If you're suddenly forced to buy a house for £600K, because that's what yours is selling for, you're forking out £24K in stamp duty, as well £7-8K in estate agency fees (unless it's Foxtons of course).

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The house prices in the South East/London don't seem real to me. How are there enough people with enough money to get a mortgage on these properties.

Its a bubble that can't expand indefinitely, can it ?

 

 

No, I don't think so.

 

The slightest twitch in interest rates (which gets closer every day) and some 'normality' will return - fine for all those who have owned property for years and have built up some equity and their mortgage repayments aren't too onerous. But for people buying that £600k semi in Peckham on a big old mortgage ... doesn't seem quite so smart when interest rates go up, mortgage repayments go up several hundred pounds a month (and are going to continue going one way) and their property value drops a hundred grand or so. Causes all sorts of problems then, unless they can afford to sit tight (which loads can't).

 

We keep having property bubbles in this country and then when they burst everyone says "that'll never happen again" :D

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The house prices in the South East/London don't seem real to me. How are there enough people with enough money to get a mortgage on these properties.

Its a bubble that can't expand indefinitely, can it ?

 

 

Was visiting some friend at the weekend in SE London who have just paid 500k + for a 3 bed semi, nice enough but needs money spending on it as it hasn't been touched since the 80's by the looks of it.

 

 

Where we are in Notts some friends round the corner put theirs up for sale on Friday night, had 16 viewings by Sunday and have 8 offers, 4 in excess of the asking price. Unsustainable as you say surely?

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