Selling with an agent, and what the fee actually buys

Most explanations of estate agents stop at the point where it starts to matter. This one carries on.

What you are buying

Marketing reach, photography and listing quality, viewing management, offer handling and progression of the sale through to completion. Progression is the part that varies most between agents and matters most in a chain. A cheaper agent who does not chase the chain can cost more than the fee difference.

Agreement types are not interchangeable

Sole agency gives one agent the exclusive right to sell for a period, usually at the lowest fee. Multiple agency allows several and costs more, with only the selling agent paid. Sole selling rights is a stronger term than sole agency and can entitle the agent to a fee even if you find the buyer yourself.

Read the tie-in and notice

A long tie-in with a long notice period can leave you unable to change agent for months. Both are negotiable at the point of instruction and almost never afterwards.

Asking for a shorter tie-in is normal and frequently agreed.

The clause worth checking

Some contracts entitle the agent to a fee if they introduce a purchaser who is ready, willing and able, whether or not you sell. That can create a liability if you change your mind after accepting an offer. It is worth identifying and, if possible, removing before signing.

Fees are negotiable

Percentage fees are quoted, not fixed, and reduce with competition and with a higher sale price. Fixed-fee and online models exist and shift the viewing and progression work to you. The right choice depends on how much of that work you can realistically do.

The takeaway

Negotiate the tie-in and the notice period. The percentage is the least interesting number in the contract.

Small and repeatable beats ambitious and abandoned, almost every time.