Estate agent comparison site, estateagent4me.co.uk, has revealed that on average estate agents achieve a sale price of £13,000 less than the initial asking price agreed with the vendor.
The findings are based on estateagent4me.co.uk’s ‘Estate Agent Performance Index’ which aims to show the UK’s best performing agents. The analysis is based on a broad set of criteria including sale prices achieved compared to asking price, the number of properties actually sold and the time taken to sell.
Ben Thompson, managing director of estateagent4me, said: “£13,000 is the equivalent of Stamp Duty on a £460,000 home – these are not insignificant sums of money and sellers should be absolutely focused on securing the right agent for them to ensure they get as close to asking price as possible.”
The agents that were consistently able to secure the highest amount over asking price over the past six months are all based in London:
- Hastings International, Rotherhithe, averaged £31,105 over asking price
- Winkworth, Palmers Green, averaged £16,215 over asking price
- Douglas Allen, Dalston, averaged £15,083 over asking price
Thompson added: “Sellers get lots of advice about dressing their home for sale, when and how to go on the market and so on – but very little help when it comes to selecting an agent. However, our Estate Agent Performance Index clearly demonstrates that agent selection is absolutely key when it comes to achieving the best sale price for your property. It’s not enough to go on gut feel or the number of boards you see locally – sellers need robust data to identify the best agent for them.”