It is not uncommon for many people to entrust the sale of their property to an estate agent. The service that the agency offers is not free. It has to be paid for. The question is, who is entitled to pay the agency's fees? Do you want to know more about this subject? Find the answer in this article.
Who should pay the real estate agency fees between the seller and the buyer?
Your answer to this question would probably be the seller. Unfortunately, the seller is not the ideal person to pay these fees. But before you come to that conclusion, it will depend on the type of contract that is made between the seller and the estate agent. Also, the price of the property that the estate agency will display to the customers will determine who will pay the agency fees.
For example, if a property is put up for sale at €500,000, the agency should mention whether or not the agency fees are included. If the agency fees are included in this amount, then the seller has paid the agency fees. If not, the agency will add the agency fee to the selling price. These costs can be estimated at 20,000 euros. In this case, the price of the property will be 520,000 euros. The agency will therefore mention that the agency fees are included. The price is therefore paid by the buyer. In short, in either case, it is the buyer who pays these costs.
Are estate agency fees negotiable?
Of course, it is possible to negotiate estate agency fees. Since it is the estate agency that sets the fees, the seller can go into negotiation. Also, this price is not fixed by law. Nevertheless, it is not possible to negotiate the price of a notary. This price is fixed by law. The law stipulates that the notary's fees represent 8% of the sale price of the property. This price is therefore non-negotiable.