You should also check that this percentage fee includes the extras, such as advertising costs, photographs, a For Sale board and VAT.
If you decide to use an estate agent to handle the sale of your property, they must confirm the charges and rate of commission that will be made when they agree to act for you.
Sole agency
If you use just one estate agent to handle the sale, this is known as sole agency. It is usual for the agreement to state that the commission is only paid to the estate agent if they sell the property.
However, if you have an agreement that gives the estate agent sole selling rights, then only that agent can sell the property. This means that you will still have to pay the commission fee, even if you sell your home yourself.
Joint agency
If you appoint two or more estate agents to act together for you in selling the property, this is known as joint agency or joint sole agency.
The estate agents involved share the commission when the property is sold regardless of which estate agent actually finds the buyers.
The commission for the joint agency agreement is usually higher than for a sole agency.
Switching estate agents
If you’re not happy with the service you’re getting from your estate agent, it makes sense to find another one. But don’t sign up with a new agent until you’ve checked your contract to find out what notice period you have to give. You won’t be able to use another agent until the notice period is over, unless you want to pay two lots of commission.
Next: Sell your home yourself
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