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Some huge % of that agent fee goes to Rightmove these days. We looked at buying an estate agency chain for work and the economics are far shittier than you would expect, even in London. Earnings are volatile as well.
NickCJ-
I sort of accept the agent fees as a necessary evil.
I would rather everyone paid more for conveyancers so we got quality professionals doing the job, rather than battery farm conveyancing with inexperienced para legals doing the work due to a race to the bottom on fees.
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The bloke selling my house is a small estate agency with him and his wife running it and freelance photographers and social media managers. He doesn't have a high street ground floor glass plated office like most of the others. He Said it costs him 26k in fixed costs a month before he starts to make any money.
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princeperch
Would we all spend a bit more on fees if we could get a better service? I think I would.
On my sale the agents fees were circa £10k and the conveyancing solicitor £1.5k. How can it be right that the agent earns over 6x the conveyancer?