UK Landlord Forum / Life

Estate agents are hitting their customers with extra charges as they try to recoup their losses from the property downturn.

Agents are now charging between 2% and 3%, up from around 1% or 1.5% during the boom. Chris Wood, president-elect of the National Association of Estate Agents (NAEA), says: "The credit crunch is obviously having an impact on estate agents – and that means their pricing structures too."

And on a side note, apparently the 2%-3% isn't justified...

Natalie Carter, a 28-year-old mum from Surrey, who sold her flat last year, says: "When we sold our place, we couldn't get a quote any lower than 2%. The estate agent was supposed to put together details for our property, put it on the website, and show buyers round – none of this happened.

"We had two people round. Both viewings I did myself, and I handled the negotiations over price. All they did was get me to sign a standard contract, introduced the buyer and charged us £5,000. I will never use an estate agent again - it's money for old rope."

Full article

The housing market, more candidates for homeownership and opting for the rental price increases along succession way.Real is probably the perfect example of the Pareto Principle.It that 80 percent of people to 20 per cent of the money, and 20 percent of people earning 80 percent of the money.