Estate agent fees - Shop around for the best deal

ESTATE agents want to have their cake and eat it.

That is the inescapable conclusion to be drawn from the move by a leading company to increase its commission on house sales in the Dublin area from about 1% to almost 1.5%.

Appropriately, the chief executive of the National Consumer Agency has described as “incredible” the decision by Sherry FitzGerald to raise its fees by 50%.

Nobody can dispute the fact that those in the business of selling houses have been on a “gravy train” for the past 10 years. What people also find unacceptable is the alacrity of the increase after a mere six months of a downturn.

Sherry FitzGerald says the commission increase was necessary to continue providing a premium service for its clients.

But according to consumer lobbyist Eddie Hobbs, it means sales volumes have collapsed.

While it is unclear if other agents will raise their fees, it makes sense for consumers to shop around for the best deal.