High Street Agents Fees Compared to Other Professions
One online agent has recently compared high street estate agent charges to much more respected professions across the UK with surprising results.
eMoov analysed the average house price across the UK along with the number of transactions during 2016, finding that high street estate agents profited by around £408m during the past year, based on average high street estate agent charges of 1.6% plus VAT. This is an average fee per property of over £4,000, claims eMoov.
With the average property taking between 5 and 15 hours to sell, high street agents across the UK could earn as much as £815 per hour, climbing to £876 per hour in England alone.
At around £42.50 an hour, an NHS doctor earns 19 times less than what a high street estate agent can pocket during the same time, with even private doctors having to work three hours to equal average high street estate agent charges.
“The emergence of the online sector and property portals such as Zoopla and Rightmove means that now a property can almost sell itself. But to think that, despite this, there are high street agents across the UK netting 19 times more than a hard-working NHS doctor is a little bit sickening really.”
Read more in this article from Landlordnews.co.uk