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Daily Mail to clarify agents’ fees as ‘gesture of good will’ after story claiming 1.8% average

NES NS

The Daily Mail has said it will correct claims that estate agents charge an average 1.8% in fees,

It says the proposed amendment is “a gesture of good will”.

In an email to an EYE reader who challenged the figure that the Mail used in a story which alleged that estate agency fees were the single biggest cost – and barrier – in home moving, the Mail says: “Thank you for your email, which has been carefully considered by the Readers’ Editors and the Money Mail team.

“Although you do make a fair point that a 2016 article in Which? quotes a conveyancing firm’s view that the average fee might be lower than the one used in our example, there are no definitive figures available, as the ASA made clear in both of the determinations that you referred to in your email.

“The ASA rulings do not adopt the alternative 1.3% as you suggest; the ASA merely says that it doesn’t believe that 1.8% can be substantiated.

“That said, to give a fuller picture, we propose, subject to the Editor’s approval, to publish the following clarification in the paper:

“An article in Money Mail dated 16 August cited research which stated that average estates agents fees are 1.8%. We are happy to clarify that this figure has been challenged on the basis that fees can range from1% to 3.5%, and that some sources consider the average to be closer to 1.3%.

We also propose to amend the online article accordingly, again as a gesture of goodwill.

“We welcome all feedback from readers, whether positive or negative, and have passed your comments on to the relevant editorial team. They have noted your attentive comments and the figures from MyHomeMove, and will bear them in mind in future coverage.

“We trust that the above satisfactorily allays your concerns, and would be grateful for your confirmation so that we can make the necessary arrangements.”

The letter is signed by Hilary Kingsley, readers’ editor.

National newspaper says agents’ fees are biggest barrier to downsizing

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Source:: Daily Mail to clarify agents’ fees as ‘gesture of good will’ after story claiming 1.8% average