UK Estate Agent fees amongst the lowest in the world

July 17, 2019
what is happening to house prices

The Estate & Letting Agents Association UK (ELAA-UK) has conducted research that shows UK agents charge some of the lowest fees in the world.

The association conducted the research as a part of it’s campaign to show consumers the many benefits of using a high street or ‘traditional’ agent. ELAA-UK aims to show consumers the value for money they receive when using a high street agent in the UK.

ELAA-UK said that ‘whilst we have seen that recently people are returning to being more focused on the services and results an estate or letting agent can achieve for them the fees agents charge is still a major topic of discussion. We think it is important to remind consumers that agents fees in the UK are amongst the lowest in the world and in our opinion represent great value for sellers.’

The research compared the fees for similar services to those you would expect from an agent in the UK and found that agents in some countries would charge up to 4 times more than the UK average.

The below extract from the research shows the some of the results:

USA Typically 6% but some agents do charge up to 8%

Canada 3% – 7%

Australia 4% + advertising fees

Romania 6%

France 5%

Malta 5%

Cyprus 5%

ELAA-UK states ‘You can see from the results that estate agents in the UK charge considerably less than their counterparts in other countries, add to this the fact that a good agent will be able to negotiate the best price for a seller possibly adding thousands of pounds to the final sale price and it is easy to see why UK agents offer some of the best value for money in the world.’

To see the full results of this research and to view more information and analysis from The Estate & Letting Agents Association UK visit www.ELAA-UK.org

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

Brexit housing market winners and losers

England can’t keep pace with the other home nations And the south of England falls well behind the north   The latest research from Yopa has revealed a stark regional divide in house price growth since the Brexit referendum (June 23rd 2016), with Northern Ireland, Wales, Scotland and northern England recording some of the strongest…
Read More →
Breaking News

The Rental Market is Rebalancing

But 78% of Tenants Still Can’t Find What They’re Looking For Nine in ten landlords believe the balance of power in the rental market has shifted in favour of tenants over the last two years – yet a quarter of tenants still feel landlords hold the upper hand, according to new research from LRG. The…
Read More →
Letting Agent Talk

Dispelling the top five biggest letting agent myths

Sophie Danes, Group Director of Property Management, Lomond   This year has seen the introduction of the seismic Renters’ Rights Act (RRA) as well as other changes affecting the private rented sector (PRS) coming into force, such as the rollout of Making Tax Digital (MTD). As a result, more than ever before, there is a lot of information and speculation surrounding the sector making…
Read More →
Breaking News

A fifth of Gen Z would move 25 miles or more for affordable housing

Price is the top priority listed by Gen Z for finding a home (24 per cent), with location the aspect most compromised for affordability (21 per cent) Barclays Mortgage data shows the average deposit fell -16.4 per cent year-on-year in May, however it remains the top barrier to homeownership reported by renters Nine in 10…
Read More →
AI in estate agency letting agency property
Breaking News

Can AI-powered search platform push out Rightmove for renters?

Boss of global architecture firm takes on Rightmove with AI-powered search platform where renters describe where they want to live An AI-powered start-up launched by the former boss of a major architecture business wants to disrupt the duopoly of Rightmove and Zoopla by enabling renters to find homes by using normal everyday language – as…
Read More →
Breaking News

Midlands sees largest property management fees increase

The latest research from Rushbrook & Rathbone has found that property management fees in the Midlands have increased by an estimated 53.9% over the past decade, the fastest rate of growth across England’s regions, highlighting a widening divide in costs between the North, Midlands, and South. The research analysed average rental values across England’s regions…
Read More →