It’s worth paying your estate agent more, and here’s why.
Estate agents have three resources you’re buying: time/energy, skill and advertising spend.
The skill is what it is. You’ve either hired well or hired a charlatan. Hopefully, it’s the former, but a high chance it’s the latter. This tactic will work well with both.
You like Agent A. Want to work with Agent A.
They have quoted you 1.2% (inc vat).
That agent will almost certainly roll out the standard process for all their clients. They have a risk/reward model, which you’ll get unless they are otherwise persuaded.
The bad thing about this is that we know that most estate agents have a process that has a below 50% chance of success the first time around.
You want to enhance your chances of selling to a much higher figure. The highest figure possible.
So, how do you get more of their resources?
Instead of paying them £5k (this is what they get post VAT), what would happen if you offered them £6k? A £1k bonus.
1. You are now the most essential property in the price range for that agent.
2. The agent will spend more time on your sale.
3. More time spent creating the marketing (this house must be perfect!)
You’ll only pay this if the agent gets an offer high enough that provides value for you based on the fee they’re charging.
Win/win/win.
Agree? Disagree?
