More and more people are deciding to use an estate agent to sell a flat. However, this is not something that is done freely, but rather involves a cost. Do you want to know how much an estate agent charges to sell a flat?
While Each one may have a different rate, Yes, we can tell you about a scale so that you know, more or less, how much it can cost you. This way you can make the best decision when selling your apartment, whether to do it personally or have a real estate agency take care of all the management. Would you like to take a look?
How much does a real estate agency charge to sell a flat?
Roughly speaking, and answering you in a more direct and straightforward manner, we could tell you that the cost of the real estate agency is usually between 3 and 7% plus VAT of the price of the property. That is, if the property is worth 100.000 euros, the real estate agency could take between 3 and 7% plus the corresponding VAT. This is 21%.
This is what is called real estate commission, also known as the fees that this business takes for managing the sale and all the paperwork involved in selling a home.
However, the truth is that the rate charged by real estate agencies for selling a flat is not always the same. It often depends on the type of real estate agency and even on what is being sold, whether it is a flat, a house, a chalet, a business premises...
To give you an idea, and according to the Help my cash publication, we could be between 3 and 7%. But also with specific figures, ranging from 4000 to 8000 euros, based on the price of the homes. Others, however, rely on subscription plans. These are basically for people who rent or are looking to post ads or chat with potential buyers.
Furthermore, if the apartment is a luxury one, this commission could even rise to 10%, which already represents a much higher price.
Who should pay the real estate commission?
Now that you know how much a real estate agency charges for selling a flat, the next question you will ask yourself is who should pay these fees. Well, In the vast majority of cases, they are paid by the seller himself, because he or she is the person interested in the real estate services. But this can sometimes vary.
Sellers can reach an agreement and set a minimum price that they want to receive and, from there, the real estate agency can increase it to make a profit.
Another option is that this commission is divided between the buyer and the seller. This situation can also occur. For example, both parties decide to split the real estate commission.
Finally, it may happen that, in addition to the commission fee, there is a commission for the buyer. This often happens with clients who go to the real estate agency and, for showing them houses and making visits, they receive these commissions. These commissions are sometimes made at the same time as those of the seller, so in the end each one pays their part of a larger total (it is not shared, but each one suffers an extra expense to pay for the use of the real estate agency).
Many times this charge is written in a contract, so you should have a copy to see if you are actually collecting what you owe. In addition, there may be the case of an exclusive contract. That is, you can only sell your apartment with one real estate agency, and not with several. This greatly limits the possibility of selling.
As a benefit, you may find that the sales commission is somewhat tighter because the company is more interested in having a portfolio of homes that are exclusive, either because of the area or the type of apartment or home. For example, because it is an expensive area with high demand, because it has a series of interesting extras, etc.
When commissions are due
The real estate agency has, except for exceptions or clauses in the contracts that are signed, a specific period to collect commissions for the sale of a flat. In most cases, they are settled when the deposit is settled.
However, there may be cases where real estate agencies decide to charge 50% at the time of the deposit and the other half when the deed is signed.
There are very few that charge when the sale is signed, but it can also happen.
Do all real estate agencies charge the same?
Although you may have already answered this question before, the truth is that it deserves a special section. And no, not all real estate agencies charge the same. Nor in the same way. It is true that the scale is in the data that we have given you, but depending on the real estate agency, it charges more or less.
For example, The largest and best known usually charge around 6-7% commission, while other smaller companies stay at 3-5%. Of course, VAT must be added to that. And, in the case of buyers, the percentage varies between 3 and 5% plus their share of VAT, of course.
As for online agencies, the prices are more fixed and correspond to a fixed price that will depend on the type of service you want to contract with the real estate agency. For example, there are some that only offer to serve clients, but others can make visits to buyers so they can see the apartment (and manage it partially or totally themselves to sell it).
As you can see, you already know how much an estate agent charges to sell a flat and everything you need to take into account when considering using an estate agent, whether to sell a flat or even to buy it. Have you ever used one? What experience have you had, positive or negative?