Estate agents have earned £4,770 per property sale on average in the UK over the past decade, it has been claimed.
The figure has been published by hybrid estate agency Strike, formerly HouseSimple, which is currently rolling out its free home selling service across the UK.
The agency, which generates its revenue from recommending third-party services such as mortgages and conveyancing to clients, has completed the research in an attempt to highlight how much vendors pay on average to sell a property.
It also says that 11% of vendors payed more than £10,000 to sell their home.
But the figures do reveal the huge variation in fees earned by agents across the UK.
- London – £6,573
- Birmingham – £5,622
- Southampton – £5,481
- Bristol – £5,316
- Belfast – £4,667
- Norwich – £4,338
- Liverpool – £4,221
- Edinburgh – £3,690
- Sheffield – £3,405
- Glasgow – £3,273
- Manchester – £3,265
- Cardiff – £3,255
- Newcastle – £3,167
- Leeds – £3,000
- Nottingham – £2,854
Also, Strike says more than two in five (44%) of UK sellers were unhappy with the service provided by their estate agents, peaking at 58% in Belfast.
And it claims that the level of agency fee charged depends on a range of factors including gender (men appear to get better deals than women) and age group (Millennials seem to be happy not to haggle on fee).
Sam Mitchell, CEO at Strike, said: “Estate agent fees are often the most significant expense when moving to a new house, especially with the current stamp duty relief, and it’s really interesting to see which factors affect how much people pay.
Earlier this year Rightmove put the average fees at £4152.