Buyer's Agent fees, what to expect?

[malzeit]

We are looking to trade up in a small catchment area. It will be a case of putting flyers through doors and hoping for a bite. For security (cash buyer) & negotiation purposes we do not want to engage directly with sellers.

Does anyone have any current experience of what Buyer's agents base their fees on?

 

[aamname]

There are a few buyer's agents who have price information on their websites. I think Liz O'Kane is one. Another is called "the buyers agent". I don't think I can post links yet, but a quick google should find them. I'm not sure whether they do the kind of door to door work you are describing, but it's worth giving them a ring and asking. Some have flat fees and others charge a percentage of the purchase price.

 

[malzeit]

Thanks for your reply. That's as much as I know too. I've heard one or two interviewed but have never been quite convinced by their pricing/fee structure. Next step is to contact them.

 

[Spear]

If it's a percentage of house price then there would be a conflict of interest with their charging structure. Flat fee, hourly fee, or % of savings would work more in your interest.

 

[bugler]

If it's a percentage of house price then there would be a conflict of interest with their charging structure. Flat fee, hourly fee, or % of savings would work more in your interest.

Beat me to it! Make sure your interests are aligned with those of your agent - % of price is a strange approach to use for a buyer's agent, even allowing for the fact that the difference may be slight enough in terms of commission if it's a 2% rate.