The Smart Move Difference

4 Problems with the estate agency industry and how Smartmove is different. Fees in general "Estate agents fees are ridiculously high" 'Amongst sellers the major areas of dissatisfaction with estate agents were the feeling that agents offered poor value for money'. − Office of Fair Trading, 2004. Estate agents fees are ridiculously high, and the above quote proves you feel that way too. Smartmove charge a low cost, two stage, fixed fee. Charging a percentage of the value "...if your house is worth more than your neighbours, you'll pay more than him for EXACTLY THE SAME SERVICE." Most estate agents charge a percentage of your home's value for their services, and there are several problems with this. Firstly, it means that if your house is worth more than your neighbours, you'll pay more than him for EXACTLY THE SAME SERVICE. You may have a house worth £200,000, so at 2% you'll pay the agent £4000. If your neighbour's house is worth £100,000, he'll only pay £2000 for the same service. The amount of work the agent does for each of you is the same, so why should you pay more? Agents will argue its based on value which implies ability to pay, but what if you have a £190,000 mortgage, and your neighbour doesn't have one? He's financially better off than you but you are charged double his rate. Smartmove charge the same fee for any property, regardless of its value. Every customer receives the same level of service, although we do offer bespoke marketing packages for those customers who feel their properties require it. The mystery of an estate agents fees "Most agents will try and charge at least 2%" Call several estate agents and ask them what their fees are. Chances are that many of them won't give you a straight answer. You may get something like, 'Well I can't really say over the phone', or 'It varies, so we can only tell you when we've seen the house'. There is a reason why an agent wont simply give a you a straight answer. Firstly, they want to get a 'foot in your door' in order that they may try and sell their services. More importantly though, is that they want to see what they can get away with charging you. Most agents will try and charge at least 2% and sometimes more, but often will 'negotiate' down from this. This is why little old ladies that don't question the fees pay a lot more than a switched on businessman who knows how to haggle. Smartmove's fee structure is completely transparent. You know what we charge before we've set foot in your home. The Commission 'Carrot' that works for the agent, but against you. "...the majority of agents have their own agenda" The relationship between customer and agent is not balanced. The agent is supposed to act in the customers best interest at all times and to achieve the best possible price for their properties. However, the majority of agents have their own agenda, and work solely for themselves. Because estate agency fees are so high, the commission you pay on completion acts as a 'carrot' that dangles in front of the estate agent. You may think this is a good thing as the agent will work tirelessly to sell your home, and if he doesn't, he gets nothing. This is the problem, as the agent will have his own agenda rather than your best interests in mind. Because he gets nothing unless your sale actually completes, he needs to do whatever it takes to get the deal through, which could often be at your expense. This is often why any offer that an agent puts forward to a customer is 'dressed up' and presented in its 'best light'. It is designed to tempt you into accepting, rather than the agent having to go back to the buyer and negotiate further on your behalf. It was reported recently on a BBC documentary that some agents actually made up fake offers, lower than what they had actually received, in order that the real offer, although low, would appear more attractive. Smartmove's low fee structure ensures that we are not dependent upon receiving a huge commission from you on completion, and therefore will act in your best interests at all times during offer negotiation.