Auctioneer's fee

S

skellig

Guest
I am about to put our house on the market and got a quote from the local auctioneer. This agency sells the majority of the property in the area and achieves very good prices . I am located just outside cork and the house will be put on the market for 395K. He quoted me 5,200K for everything newpaper and internet advertising, vat, fees all in if the house achieves this price. Is this ok or over and about the advertising fees work out to be around 1k and then 1% comission is this about right.

Any advice appreciated
thanks skellig
 
Sounds pricey to me. We recently sold for €460k and paid our EA €4453 incl. advertising and VAT. Definitely haggle, if you don't ask you don't get.
 
Auctioneer fees

Can anyone give me advice on the commission structure to agree with an EA. All seem to charge extra for advertising the property which seems riduculous-bearing in mind they have to sell the property in order to get an fee. I am in two minds about selling it my self interested to learn others experinces of this .
 
I found by shopping around I got EA's to drop their commission levels significantly. In most cases they dropped about 0.25% below what they originally told me their bottom level was. However in most cases they had to go back to the office (to talk to the boss) before they agreed to this lower level. So my advise shop around and push for lower commission levels, in most cases you'll get some shift.
 
Selling house with Auctioneer or sell it myself?

I got a shock by the following response from an EA which goes as follows;

....due to the huge supply of houses available...you are unlikely to get more than xxx,xxx (which happens to be a stamp duty band limit) but it would easily get this-due its size, location, features and condition-which was described as superb!

On that basis I think they have just wrote themselves out of a easy sell-I thought their so called skills were in negotiation the best price for the seller-not taking the highest price within a stamp duty band and not a cent over it!

Looks like a poor pitch to get the business!

Doh-what a over rated, over hyped, and over compensated professsion. Perhaps profession is the wrong word! :rolleyes: looks like i will sell it my self. All advice appreciated!
 
Can the moderators change the title of the thread to 'selling houses' or better still create anew forum for selling houses-the title 'Mortgages and home, buying does not really suit this subject.
:)
 
Re: Auctioneer fees

Luternau said:
All seem to charge extra for advertising the property which seems riduculous-bearing in mind they have to sell the property in order to get an fee.
Click to expand...

Advertising is an expense that the newspapers don't give for free, In the US the fee is 6% by law which includes advertising costs and all related fees
 
Brendan said:
It's quite clear from the title what the thread is about. Purchasers don't pay auctioneers' fees.
Click to expand...

Quite correct! :D
I only tagged alon with the thread starter on 18th Jan and requested that you re-name it Selling houses or something more appropriate. I was trying to avoid duplication of threads which I keep reading is not encouraged.
Question
Where is the best place for sellers of houses to seek advice -there is no correct forum availabe. This one is clearly aimed at buyers, as is location location.
Can you move all this to General Discussion? I still think it would be no harm to have a forum for selling for balance. Is it just me that thinks this way?
Luternau
 
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