Is estate agency commission too high or too low?
Is estate agency commission too high or too low?
A question we encounter during market appraisals is: “What is your commission fee?” This is entirely understandable as choosing an estate agent is a significant decision for any homeowner. However, over my 27 years in the industry, I’ve often reflected on whether commission rates are truly the key factor in selecting the right agent.
The cost vs. value
It’s easy to assume that a lower commission equals better value, but this doesn’t always hold true. In fact, I believe that estate agency commissions are often very reasonable when you consider the services, expertise, and dedication involved in selling your most valuable asset.
Selling a home is about much more than simply finding a buyer; it’s about achieving the best possible price in the current market conditions while providing professional, honest guidance throughout the process. Choosing an agent solely based on a cheaper fee may save a small amount upfront but could risk leaving money on the table if the agent lacks the skill or resources to maximize your sale price.
What goes into an agent’s fee?
Running an estate agency involves significant costs, from high-quality advertising, online presence and professional photography to, maintaining an office, employing skilled staff, and staying available seven days a week. At Millard Cook, we go above and beyond to promote your property, working evenings and weekends to ensure every detail is taken care of.
Like us, many agents offer superb personal commitments:
- Tailored marketing campaigns to showcase your property in its best light.
- In-depth local knowledge to price your home correctly and attract serious buyers.
- One-to-one service throughout the process, ensuring clear communication and support every step of the way.
A matter of trust
When selecting an estate agent, the most critical question to ask is not, “How low is your commission?” but rather, “Can this agent achieve the best result for me?” A difference in commission of £1,000 or £2,000 pales in comparison to the potential difference in your final sale price and indeed, service.
The bigger picture
Ultimately, estate agency is about building trust, creating value, and delivering results. At Millard Cook, we are passionate about selling properties and making the process as seamless and rewarding as possible for our clients.
So, when you’re deciding which agent to choose, focus on the service, expertise, and dedication they bring to the table. A strong working relationship with an agent who truly understands your needs is worth far more than simply opting for the lowest fee.
Stuart Millard
