What Fees should you pay an Estate Agent?

Full transcript below:

Alex: Believe it or not UK estate agents are actually the cheapest in the world. America for example is 10% for your agent, Australia it’s 4% and in Ireland it’s 3%. The general average for the UK is between 1% and 2, something like that. Whilst it may feel great to you to squeeze an agent right down on his commission and get a deal, at the end of the day is that agent going to be motivated for you? Is he really going to be pushing to get you that extra £5-10,000 on that accepted offer, probably not. If he’s on a very mediocre fee I can tell you now, he’ll just want it straight off his books, so you instantly damage your sale. My advice to a lot of clients is to strike a sensible chord, have a commission right on the fence, if you feel it worthwhile do an incentivised, a staggered fee, so that you know that your agent is truly motivated in your best interests.