Agency fees now range from 0.84% to 1.7% across the main regions of the UK, research claims. The national average is now 1.06%.
Data from leads generator and comparison website NetAnAgent – based on commissions that agencies enter on its website – found that firms in Glasgow and Leicester have the lowest rates at 0.84%, while London agents charge most at an average of 1.7%.
In the most expensive parts of the capital, sellers pay more: commissions in Chelsea average 2.3% and 2.04% in Kensington, while sellers in Notting Hill pay 1.89%.
All these figures include VAT and are from the first half of 2018.
The website said agency fees have fallen across the UK, from an average of 1.25% in 2016.
Leicester saw the biggest reduction in fees, going from 1.41% in 2016 to 0.84% this year.
One exception was agents selling properties in high-value areas such as N1 in London where there has been a hike of 45% from 1.5% in 2016 to 2.18% this year.
Alex Thorpe, chief executive of NetAnAgent, said: “It’s no surprise that, over the last few years traditional agents have increasingly brought fees down to compete with online and hybrid agents.
“We provide a level playing field for both traditional and online agents, so sellers can find the best option for them.”
NetAnAgent lets sellers post details of the type of property they want to sell and then matches them to agents who have signed up to the service. Users can then select agents by fee and level of service and arrange for a valuation.
The website says it has had more than 8,500 different agency brands using its service, ranging from local independent firms to well-known names such as Winkworth and Currell.
When a property is sold, the successful agent agrees to pay NetAnAgent 0.1% of the property price, subject to a minimum of £150 and maximum of £450 plus VAT.