Fixed price or commission? Here are the pros and cons

Are you considering selling your property? Then you’ll certainly be aware of the question that comes with it: should you opt for a fixed-price model or go the traditional route and put your trust in a property expert who charges a commission? We understand how difficult this choice can be, so we want to help you make the right decision.

Pros and cons of a fixed-price estate agent

Fixed-price estate agents often advertise low costs. But this attractive offer can come with hidden downsides. While the idea of saving money by paying a fixed price might seem appealing at first glance, this allegedly cheap option can cost more in the long run. There is often little incentive for fixed-price estate agents to get the best result for your property, as ultimately, the fee doesn’t depend on it.  Instead, the focus is on finding a buyer for the property as quickly as possible. What’s more, your property deserves professional representation that highlights its advantages and shows it in the best possible light. With the fixed-price option, you’ll need to conduct viewings of your property yourself, which can be time-consuming and stressful.

Pros and cons of a traditional estate agent

A traditional estate agent brings several advantages that can lead to a successful sale. From valuing your property to creating the ideal marketing plan, selecting the best buyer and accompanying you to notary appointments, they will be with you every step of the way. 

A traditional estate agent has comprehensive market knowledge and the necessary negotiation skills to obtain the best price for your property. The value of your property isn’t only determined by its location and condition, but also by the expertise of the estate agent. An experienced professional can make an accurate valuation and achieve the best possible sales price thanks to targeted marketing activities. Unlike with a fixed-price model, a traditional estate agent is paid after the sale. That means they will make every effort to get you the best price, as their success is directly linked with yours.

The key to making the right decision

Selling your property is an important event and choosing the right estate agent can be critical. It’s important to understand the pros and cons of both options so you can make the right choice for your situation. The decision depends on your individual needs, priorities and resources. Carefully weigh up what’s important to you and make an informed decision that meets your requirements. At Engel & Völkers, we’d be happy to assist you with this important step. We look forward to receiving your non-binding request.