300k villa, 30k agent fee?

[cypriotseller]

I am selling my south Cyprus property for 300k and the agent wants 30k in fees. Does anyone know about how much an agent should be asking for for? I know its between 3-10% but this agent is hitting at the top end of the scale. Any feedback welcomed on how I should handle this situation. Thanks

 

[Veronica]

I am selling my south Cyprus property for 300k and the agent wants 30k in fees. Does anyone know about how much an agent should be asking for for? I know its between 3-10% but this agent is hitting at the top end of the scale. Any feedback welcomed on how I should handle this situation. Thanks

10% is ridculous for a resale property.
Most agents charge 5% and some (including us) charge 3%.
If this agent is asking 10% I would recommend you walk away from them.

Kind r egards
Veronica

 

[cypriotseller]

10% is ridculous for a resale property.
Most agents charge 5% and some (including us) charge 3%.
If this agent is asking 10% I would recommend you walk away from them.

Kind r egards
Veronica

Thank-you Veronica for your candid response.

It has helped verify my suspicions, and I do feel it is a ridculous fee for a resale. In the UK agents take generally 1-1.5% so you can appreciate how 10% feels for me...

I do though still have concerns, with the property market being as it is in Cyprus, that I may lose the sale if I walk away from the Agent I'm with who has brought the sale to me.

Thank-you again.

 

[Veronica]

Did you have a contract with the agent before they brought you the client?
If you signed contract at 10% you may have no choice but if not you can refuse to pay this amount.
Talk to them and tell them you will not pay more than 5%.
Beleive me if they have client who is keen on your property they will not want to lose the sale and their commission.

Veronica

 

[mfo]

5% tops. Normally agents must have lisence to be able to claim that amount, most of them are just advestising agents which again are not allowed to charge a penny, only a fee for advertising which this whould be agreed before the advertisement.

 

[FSB]

I am selling my south Cyprus property for 300k and the agent wants 30k in fees. Does anyone know about how much an agent should be asking for for? I know its between 3-10% but this agent is hitting at the top end of the scale. Any feedback welcomed on how I should handle this situation. Thanks

On a resale it is 5%+vat (if he is VAT registered)

Any more than that and he is screwing you over.