Estate Agents

5 Tips On How To Negotiate Fees With Your Estate Agent

Estate agents in East Belfast charges a range of fees and a lot of people won’t try to negotiate with them. However, the truth is that many estate agents are open to negotiations. With that said, below are five tips on how to negotiate fees with your estate agent.

1. Wait Until The End Of Your Appointment
The first thing you want to do is be patient and let the agent complete the entire process of valuing your property or the property you’re thinking about buying. Let them do their jobs, show you around, speak with everyone else involved in the transaction and then you can bring up their fees. By the time an agent is done with the process, they will be in the mindset of wanting to unload the property, which means it will be the perfect time to bring up their fees. They will be more inclined to negotiate their fees.

2. Tell Them It’s Slightly High Or Very High
Another thing you want to do is think about the fees carefully. After your agent tells you what fees they charge, have a look at them and determine if they are high. If they are actually reasonable, then tell the agent that the fees are reasonable, but you feel they could be a little lower. If an agent hears this, the chances are they will slightly lower their fees.

However, do not back down if you feel the fees are very high. Tell them this and tell them that you had a good think about everything. Then they will decide whether or not to lower their fees, but whatever you do you have to make it known that you feel the fees are slightly high, could be a little lower or that the fees are very high.

3. Be Confident
After the agent tells you what the fees are, challenge them. If you feel strongly about the fees, then say so. Do not back down, stand your ground and remain firm on your opinion that the fees are too high and should be lowered. Be as confident as possible when the time comes to negotiate fees.

The bottom line is if you’re not confident, then you’ll have virtually no change of reducing an estate agent’s fees. If you come off confident, then the agent will feel as if you know what you’re talking about. They’ll likely give in and reduce their fees because they won’t want you to go elsewhere.

4. Don’t Feel Pressured
Also, when the time comes to discuss fees, do not feel pressured. Your estate agent will talk about why their fees are what they are, and they will come off as if you will have to pay them no matter what. However, remind yourself it is your decision as to whether or not to proceed in the deal. Do not fee pressured and remain calm when discussing fees.

5. Compare Other Agents’ Fees
Finally, compare other fees that agents charge. If you find an agent or two that charges lower rates, then tell your agent that and that you’re thinking of using the other ones due to this. The chances are your agent will want to keep you as a client, so they’ll lower their fees so they can beat the competition

When it comes to negotiating fees, you want to wait until the agent has completed the appointment with you and you want to examine the fees and tell the agent what you think about them. Remember, don’t feel pressured and be confident, as well as compare other agents’ fees. Before you know it, your estate agent will probably lower their fees.