Fee Guide - Average Pricing Report
Check Average Fees by Survey, Bedrooms, Region and/or Postcode
The Average Fee Guide reporting tool is intended to help you set an appropriate level of fees for your local area.
We are very conscious of not wishing to exert any downward pressure on fees, but we are commonly asked about fee levels in an area, so we have created this reporting tool to help guide you in setting a realistic fee scale for your practice without the need to resort to carrying out any test searches.
Conversion rates are rarely solely down to price, and it is mostly down to three Ps: Place, Promptness, and Price. Local firms are favoured, and have an advantage, and following up leads promptly is also a major factor. Price is often the least important of these (provided you are not right out of the ballpark!).
And the Average Fee Guide tool is intended to help you find where the ballpark is in your local area.
Overpricing may reduce your conversion rates, but, to an extent, is offset by the higher fees and return on each survey. Underpricing, on the other hand, may increase your conversion rate, but at the cost of giving away uneccessarily a chunk of your fee on every survey, which you might not have needed to do to win the business. When following up on a lead, it is much easier to negotiate a fee down from a higher initial quote than up, if needed to win the instruction!
This tool will help you identify if you are significantly over or under pricing with your fees, and help you avoid being the proverbial "busy fool" through underpricing.
To Use the Fee Guide
Fees vary considerably across the country, so when setting your fees it helps to understand the average fees in your locality. The fee data is drawn from quotes delivered from our website, so is a true reflection of fee levels in 'real time'.
Primary selection criteria are Survey Type, Number of Bedrooms, and Region.
Results will then be displayed for the Property Price Bands. If there have been no searches for a particular price band in the selected date period, the band is omitted from the results.
If you don't receive sufficient results, you can try a longer date range, or broadening the geographical scope.
We have divided the country up into the usual economic regions. Selecting the region will give you a good general overview of regional fees - this will give you the greatest number of 'data points', and probably the best average fee information.
London Regions - we have defined outer London as the largely suburban postcodes out as far as, and adjacent to the M25. Postcode districts in Outer London outside Central London, but within the M25 area overlap with the East Anglia and South East regions, and will be included in both regional results.
You can optionally choose to search for specific postcodes. This can be useful if wanting to find average fees for quite tight geographical locations, but will return fewer results and less consistent average fee data due to fewer data-points.
To find average fees in a specific postcode district, enter it into the Postcode box, e.g. SP6. this will give you the smallest result set. To broaden the search to cover the parent postcode area, use the % wildcard symbol, e.g. SP% will return all the data for the SP postcode area.
A word of warning in relation to using the wildcard search - there are a small number of city postcodes that start with a single letter. These include Glasgow, Liverpool, London, Manchester, and Sheffield. If searching for fees in these cities using the wildcard, you should also make sure you have selected the relevant region, otherwise you will include fees from all postcode areas beginning with that single letter which will distort your results.