Estate agent ''being cut from property process''


Fri 26th Oct, 14:31:01 BST

Nine out of ten Brits believed that estate agents cannot justify their fees, according to research newly released from Gumtree.

The classified listings website found that 92 per cent of Brits feel that the fees estate agents charge are excessive, while 68 per cent fail to see what they are even intended to reflect.

Estate agents take an average of 1.9 per cent commission on every house sale, trimming some £4,151 of the sale price of the average UK home.

And according to TV property expert Michael Homes, the latest report should serve as a wake up call for estate agents, highlighting how the "huge low-cost marketing reach" of the internet could revolutionise the way buyers and sellers interact.

"While there''ll always be a market for estate agents, the mood is changing in this uncertain market," concurred Gumtree spokesperson Sophy Silver. "With a bit of know-how and confidence, Brits will find that selling your house can be as easy as changing a light bulb."

The National Association of Estate Agents this month reported a fall in the average number of home sales by estate agents down from 12 to 11, whereas Gumtree has seen a 40 per cent rise in the number of properties being listed on its site in the past six months.ADNFCR-1143-ID-18332562-ADNFCR


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