Agent fees when selling a property | ExpatWoman.com
 

Agent fees when selling a property

102
Posts
EW NEWBIE
Latest post on 04 January 2017 - 18:04

Hi,

it used to be the case that the buyer would pay the agent's fees when buying a property, but I understand that is now different and the vendor also pays the agent a fee? Do all agents charge a fee to the seller, and what is the usual percentage? Is it negotiable? Whilst having a sole agent is easier as there is only one point of contact and better for coordinating viewings, my reservation is one is then at the mercy of one person's feedback on level of interest and offers - is there anything to watch out for with two or three agents?

Any other tips?! What do you think is reasonable when requesting tenants allow viewings, and are tenants obliged to allow viewings?

Thanks!

102
Posts
EW NEWBIE
Latest post on 05 January 2017 - 12:55
Thanks very much for sharing - it's a minefield. I suppose the agent fees will then be taken off the buyers offer, so are factored into the net price one way or another. Does anyone have a recommendation for a well-known agent/agency? Any other tips/experiences? Thanks
394
Posts
EW EXPLORER
Latest post on 04 January 2017 - 20:30
The seller absolutely does not need to pay any agency fees and there are plenty of agents who agree to that. You need to sign the Form between agent and seller and it stipulate what the sellers fees are - i.e 0% when you take on the agent initially. That does mean the agent is working for the buyer - not you. The form also says you do or do not agree to an exclusive agency agreement for x number of weeks. Do not let the agent say you don't have to pay anything and then they come up with a very good offer and rush you to sign quickly - as happened to me - they sneaked in a high fee in AED on the form. The sale then fell through and probably wasn't even genuine - but I was told that contract agreeing to pay the high commission (because the agree price had been high) was valid for 8 weeks even if the property sold for less. I withdrew from selling my property for 3 months and then went to another agent who did not charge me anything. I had paid alot in fees and used solicitor when I bought so wanted to reduce cost when selling. All I had to pay was AED1,500 for the NOC from management/developer.
 
 

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