The average estate agency fee for selling a London home now stands at almost £9,400, according to Portico London Estate Agents, as it launches #sell4apound.
Every home-seller instructing Portico as sole agent during April was entered into a prize-draw giving them a strong chance to save thousands and thousands of pounds, with the Portico fee reduced to just £1.
Londoners now have to find an average £9,000 in estate agent fees to sell their London home. This is 31 times more than in the mid-Seventies when the average fee was around £298. By 1985, the figure had more than doubled to £886 and by 2005, Londoners were paying around £5,650 to estate agents to sell their home and. In 2015, this had increased 66 per cent to £9,389.
Robert Nichols, Managing Director, Portico.com, said, “Clearly, selling a home is more expensive than ever. The opportunity to save thousands of pounds on estate agent fees will appeal to Londoners and we’re really pleased to offer this as we celebrate our first birthday.”
Portico is also celebrating by the launch of a fixed-fee service for home sales. Every property that’s instructed between 1 April and 30 September that’s valued over £1 million will incur a fixed-fee of £10,000 per sale – saving customers around £10,000 in agent fees. www.portico.com/springsale