The average estate agent fee for selling a London home now tops £9,000, according to Portico London Estate Agents, as it offers the chance for one lucky person to sell their house for free.

 

The leading London agents have created the Portico Property Quiz, and those who score 80% or more in the quiz will automatically be entered into a prize draw, with one lucky person winning the prize of a 0% fee and a £100 John Lewis voucher.

 

The majority of the questions are general property knowledge, from the average time it takes to sell a London property and stamp duty calculations, to a guess-the-price picture round.

 

The agent have launched their competition at a time when Londoners have to find an average of £9,244 in estate agent fees to sell their London home. This is a huge 414% more than 20 years ago, when the average fee was around £1,797.

 

 

Year Average Greater London House Price Estate Agent Fee

1.5%

2017 £616,277 £9,244
2007 £352,792 £5,292
1997 £119,830 £1,797

Land Registry house price data, January – June 2017

 

Robert Nichols, Managing Director, Portico, said:

 

“Everybody wants a quick and easy property sale. Unfortunately, in this market, the time is takes to sell a home can vary greatly depending on how you sell it and who you sell it with.

 

At Portico we offer a range of unique services to maximise the sale price achieved, from home staging and free handyman work, to an Airbnb management service that enables vendors to earn until their property sells.

 

We’re excited to be offering one lucky homeowner the chance the sell for free, potentially saving tens of thousands of pounds in estate agent fees. Fancy yourself a bit of a property expert? Take our quiz! https://www.portico.com/blog/our-news/sell-your-home-for-free!