Traditionally estate agents set their fees at a percentage of the value of the property being sold.  There is now however a new type of property agency known as fixed fee estate agents.

For people who want to sell their home using an estate agent brings a number of benefits.  The expertise that estate agents have in property sales can mean that the home is sold much quicker and at a fairer price than would otherwise be the case.  The first task performed by the estate agent is to set a valuation of the property.  Once the value has been set the agent will perform their main role which is to advertise and find a buyer for the property.  Typically the agent will use a variety of methods to advertise the home.  A major advantage of estate agents is that people looking for a new home will commonly begin their search at their local estate agent.  The final role of agents is to arrange and conduct property viewings for potential buyers.

Despite being used in most property sales a recent survey has revealed that nearly 40 percent of people selling their home are dissatisfied with their estate agent.  The main reason given for this dissatisfaction was that the estate agency service offers poor value for money.  Most traditional agents will set their fees at around 2-3 percent of the value of the property being sold.  This means that on average home sellers will pay between £3000 and £20000 to sell their home.  With sellers increasingly conscious of making a profit on their home it is of little surprise that these fees have caused an amount of dissatisfaction. 

Fortunately home sellers do have another option.  In recent years a new type of estate agency has emerged.  Known as fixed fee estate agents these types of agents have done away with the traditional method in which fees are set.  People selling their home with a fixed fee estate agent will be charged the same price no matter the value of the property.  This means that the price is the same whether the home is sold for £100000 or £1 million.
Fixed fee estate agents offer several advantages over traditional estate agencies.  The most obvious advantage is the money that the home seller saves.  Studies have shown that home owners selling at a fixed rate price will on average benefit from a substantial saving of £2600.  A further advantage is that the fixed fee makes it easier for the seller to set a budget for buying their next home.  Since the seller knows from the beginning what they will be charged they will have a better idea of just how much money will be available to spend on a new property.

In most cases the service that the fixed fee estate agent provides will be identical to the service provided by traditional agencies.  Fixed fee property agents will still offer a full service from setting a valuation to advertising and arranging viewings of the home.
There is little doubt that fixed fee estate agents will revolutionise the way houses are sold and save people who are selling their properties thousands of pounds.