Do estate agents charge too much?

Posted: 29/8/2020

Yes, estate agents do charge too much (in our opinion), which is why our fee is only 0.5%, however how do UK estate agency fees compare with the rest of the world? Well, actually on a percentage basis, the UK is quite cheap at 1.8% average, compared to quite a few others including South Africa, where according to the Global Property Guide, agents charge a whopping 7.5% average commission on a sale. The United States (6%), Australia (5.7%) and Mexico (5.2%) were also home to particularly high estate agent fees.

Of course, while UK fees might be some of the lowest, the high price of UK property means the actual money earnt pushes UK estate agents up the table. Based on an apartment costing £219,542, the average UK commission would result in a monetary fee of £3,952, bumping the UK from the 22nd most expensive percentage fee, to the 14th most expensive in a monetary sense.

At 0.5% fee that puts us here at Key One Property amongst the best value in the world!

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