UK Landlord Forum / Life

Oh, this is just lovely...err...

Estate agents are increasing their fees as the property market is drying up.

Estate agents typically charge between 1pc and 1.5pc of the value of a property, but some are increasing this to 2.5pc to boost their earnings as house prices fall.

David Beakon, senior negotiator at Brighton-based estate agents Bonnets Estate agents, said he had introduced a new flat fee of 2pc on multiple agency properties and had even gone as high as 2.5pc cent in recent weeks.

"If people walk away because the fee is too big then that is fine with us if it is something that we do not want to deal with."



Nice attitude. I wonder if he realises that he's making the market even tougher...

Full article over at the telegraph.

It's good for us Property Investment companies though as the sellers are coming direct to us and we can get the properties for even less as they do not have agents fees to pay so im not complaining lol!

Wonder if Victoria Beakon is in Brighton with Dave !.

Yes its a bloody crime, but then we all know these people are greedy whats names dont we,  They have had it good for to long now,  and are feeling the pinch more than most, * what goes around etc etc* i think there should have been a directive around at the height of the property boom, to tell the pretentious bastards not to park all the DBs up the street,  it has got to be one the only businesses i can think of where the service ops can rub your face in it with your own money !  Look whos laughing now. 

From all of above I want to include With more than usual political and economic uncertainty in the future before the election, potential homebuyers forward with caution .

Real Estate agents believe house prices are due to fall further, despite increased interest in the housing market.The number of real-estate agents and surveyors saying prices fell exceeded those reporting gains by 8 percentage points, compared with a positive reading of 8 in June, the London-based Royal Institution of Chartered Surveyors said in an e-mailed report today. A third more real-estate agents reported an increase rather than a drop in properties for sale.

With more people renting rather than buying it means less money (commission on sale) for estate agents, so it shouldn't come as a big surprise. Bills & wages still have to be paid.

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