Are the fees of estate and letting agents too low?

Property advice | 28.08.24

Although some sellers and landlords might believe that the fees for sales and residential lettings are too high, a lot of effort, expense and expertise goes process of bringing a property to market, then getting it sold or let. In this video, Marc von Grundherr from Benham and Reeves estate agents expresses his thoughts to journalist Christopher Watkin about how agents in the UK still only charge a fraction of what similar services can cost in other developed property markets such as the US and Dubai and the fees have been the same for many years, rarely being increased. Although many agents participate in price wars to stay competitive in the business, Marc believes it's unfair to do so and may discourage newcomers from building a career in the profession. While marketing and public relations do help agents in their branding efforts to reach more people, it's finally what they do and the quality of service being provided that makes the difference. Do you agree with Marc's thoughts on this?

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