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Estate Agent fee for selling a studio
I am selling a studio and the Estate Agent said he charges 3% of the selling price to sell it. A year ago, the same agency said they were charging 1.5% to sell an apartment.
Does the percentage the agent receives depend on the value or size of the apartment? I was told these were standard fees.
Does anyone know which is correct or can the agent set their own percentage?
The agent can charge you whatever they want. If you aren't happy with the agent, or you think they are trying to charge you too much, then get another agent.
3% of the selling price is 'standard' in the sense that agents will commonly ask for/expect this.
However an estate agent acts for the seller so there is nothing that prevents a seller from offering a lower %age which the agent can accept or reject.
When we bought the house where I now live, I know that 3% of the selling price had been agreed. In the event the agent accepted a lower fee in order to close the sale of a house in which there had been very little interest.
3% is standard. Watch out for 21% VAT on top.
If you have an easy-to-sell property, shop around and see if you can find a cheaper agent, or even better, sell it yourself.
"Standard fees" have been the standard excuse for ripping off the consumer in Belgium for the 15 years that I have been here. Best you can do is shop around and that is if you can avoid state sponsored theft via the Notaris and his "standard fees"
Hello, based on my experience in Belgium - People make few easy mistakes when they sell property. One of that is rather than selecting the agency, they select the % to agency. Best combination is Find agency based on their availability of clients + optimum commission. E.g 1% commission with agency who cant sell your apartment in 4-months - you are in loss!! rather than 3-4% who can sell immediately. I can share some contacts if you send pm. (I recently sold one of my property - within 15 days, and only 1 visitor) while I know someone who are still waiting for sell for last 1.5 years! - Good Luck anyway
hello, can you share your contacts ? i need to sell an apartment, which is in the centre of Antwerp .
