High-street agent fees hit in £303.6M so far in 2017 according to new data

Warren Lewis
8th September 2017
cash money 50

New research by online estate agent,, has revealed that homeowners in England and Wales could be out of pocket by as much as £303.6m in estate agent fees so far in 2017.

With the online sector squeezing the high-street proposition where both fee and service are concerned, the traditional sector has already lowered its average standard fee from 1.6% Plus VAT to 1.3% Inc VAT.

Using this lower fee, eMoov looked at the number of properties that have completed so far this year, and what they have completed for, before applying the 1.3% charge to see how much homeowners have already paid to sell their property.
eMoov also accounted for the online share, which accounts for 5.51% of the market, removing this from the total fees charged.  

The research shows that so far in 2017, £26bn worth of property has already been sold, equating to £303.6m in high-street commission.

The Worst

As always, the higher price of London properties means the capital has seen the largest amount of fees paid (£70,146,490), and this is no doubt higher given that the average fee in London is far higher than 1.3% Inc VAT.

The South and East of England is also home to the majority of the highest fees paid with Surrey (£13,303,190), Essex (£10,250,462) and Kent (£9,404,396) also seeing millions paid in commission. Greater Manchester is home to the fifth highest amount at £9,094,250.

The top 10 is completed by Hertfordshire (£9,093,068), Hampshire (£8,964,127), the West Midlands (£7,473,729), West Yorkshire (£6,726,050) and West Sussex (£6,369,375).

Russell Quirk, founder and CEO of, commented: “Despite the high-street sector being pressured to lower their commission to an average fee of 1.3% including VAT due to growing competition by online and hybrid agents, this research demonstrates the eye-watering amount of money that’s still being paid due to the outdated practice of charging based on a property’s value.
Of course, not all agents charge as much but there are many agents that will still charge more, and with hybrid and online agents charging a fixed fee with a now proven service track record, it remains to be seen why you should pay more to sell your house because it is of a higher value.

The only silver lining to this research is that in years gone by, this figure would have been a lot higher. Although the online and hybrid sector still only accounts for 5.51% of the market, it still represents a considerable saving and one that is only set to keep increasing as we take more market share.”

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