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Agency fees vary wildly in , with ’s among the lowest
Agency fees in vary wildly according to recent study by a property management site, and has some of the lowest in the city.
Homepilot.com, which manages property rentals in , surveyed 253 agencies in the capital to find out the average commission charged on property sales. They found a range of 3% to 8% for an average property worth €450,000 – which at current price levels would be a 50 m2 apartment in a middle-of-the-market neighborhood. The average fee charged is 5.4%.
They also found that independent agencies charge lower fees than large networks. A difference of €3,256 was found between the average fees levied by each. And this is even higher outside of : nationwide the difference between independents and networks is up to €6,000.
Homepilot’s founder Gille Bourcy says the results are surprising: “The difference is surprising, because you’d expect larger networks to use economies of scale to offer more competitive prices to their clients.”
Typical fees collected by agencies for a property worth €450k range from €13,500 to €36,000 at the higher-fee end. Rental management fees were also looked at in the study. For a property on the market for €1,500 a month, an average fee was 7.4%, with a range of 5% to 12%. Again, independents charge lower fees than large chains.
charges only 4% if we manage the sale entirely, and 5% if we share it with another agency; still below the market average.