Estate Agent Fees

CCOVICH said:
But the post above is slightly misleading-no?
Click to expand...

Completely. As are all posts relating to the site posted apart from the original! It's stated that the house was sold on the site, when she clearly states that the site/business was started following the sale of their house and the ease in which they felt it was achieved.

I think the service is a beneficial one, but obviously the poster should clearly state that she holds a personal interest in the site and is one of the founders of it (also, technically her home was not sold on this site as the site did not exist until after - at least thats what I understand from the very first post).
 
annmaries details

From !

[broken link removed]
Ann Marie Doyle

SOLE TRADER

NIC Handle

'Advanced' Internet Marketing
Click to expand...
One wonders where the "We" came out of so one does :confused: .

And where be this Advanced Internet Marketing to be found Why its in Ennis !

http://www.iia.ie/member_detail.asp?memberid=2410

Advanced Internet Marketing Address 22 Abbey St., Ennis.
Telephone 065 6843638
Website www.aim-irl.com
Description Website Design & E-Commerce Solutions

Voting Member Name Anne-Marie Doyle

So there !
 
I would look at the agents track record rather than the commission (assuming there wasn't much between the rates). From personal experience of selling our home, we chose an agent who we thought was good enough, likeable and professional. Three months in he had cost us a fortune in advertising and we'd only had a couple of viewings. When anyone rang up to enquire about the house he sent them the brochure, rather than offering to show them the property.
We changed agent and within 2 weeks we'd had 5 viewings and the property was sold. The difference was the second agent was willing to show people the house, regardless of whether he thought they'd buy it or not. He didn't advertise, just put a sign outside the house. In the end the people we would never expected to buy our house, bought it ... you just never know ... therefore you need an agent who will work for his or her fee. Good luck.
 
I would infer that the selltheyoke.ie domain was registered in October 2005 so when did she sell 'that' house :p
 
I was just on www.sellityourself.ie
There is only one house on it for sale in Dublin! I think there is 64 on it for sale altogether.

I bought my house last year. I wasn't aware of this site.
How many buyers are aware of it???

It varies in Tyrrelstown from .7% up to 1.25% to sell a house.
 
Hi all,

Just came across these posts. Yes I am the person who set up http://www.sellityourself.ie after selling my house online. I openly stated this in the post linked above! How can I say that selling the house was painless?? Because it was. What is underhand about stating the fact that I sold my house on http://www.sellityourself.ie and saved €6000 in the process?

Go to http://www.sellityourself.ie/about.htm and you will read all the details of the house sale.

Thanks

Anne-Marie
 
My wife's sister's husband (don't think that's brother in law is it?) is in the EA business and told me at the weekend that the average fees these days are around 0.5% (he's mainly based in Dublin - central/Northside) due to competitive pricing pressure from one of the big EA operations in recent years. He said that a few years back 2% was not unusual.
 
For the record as there seems to be a lot of research and detective work going on here!

1. August / September 2005 - decided to sell house. Checked out estate agent fees and thought that I would try and sell it myself and save thousands.

2. October 2005 - registered sellityourself.ie and set up a mini version of the site. Advertised my property on it. Sold the house within two weeks. Saved over €6000. Received more than the local estate agents had valued it at.

3. Decided that the concept of selling your own house was a winner and people had to know about it. Spent 6 months developing http://www.sellityourself.ie as it appears today.

And 2Pack, you would have got all this information if you had done as Satanta did and went to the about us page of www.sellityourself.ie. The 'We' that you ask about is my business partner and husband, Neil.

2Pack seems to be inferring that the house is fictional. It certainly isn't - check out the land registry!
 
Having had some serious experiience of the auctioneering trade in Ireland (I supplied services to IAVI for years) I would really like to see more private sales there but the complexity of property law and related contract law must be off-putting for many people. However it’s likely that direct buyer to seller communications and clear instructions to a conveyancing solicitor might simplify the whole process. Newspaper advertising costs in Ireland are discracefully high and the use of newspapers by agents needs to be questioned as www advertising is more effective. In my view though a seller needs more than just the advertising.To get their property on the market at the right price sellers need marketing support and statistical pricing information.
I live in New Zealand where selling a house is a very direct and open transaction and the fees charged by agents are high in comparison to Ireland so it would follow that there is more incentive and is easier to sell privately in NZ. It is estimated that over 60% of sellers in NZ consider commission free services when they come to sell.
I must disclose that I have an interest in the operation of Green Door (a FSBO operation) and am actively promoting master franchises in Ireland and UK. The NZ seller is motivated not only by the saving of a typical 4% agent fee plus costs but also by the desire and belief that they can sell their own home -- that they can be in control!
 
Selling Myself

I'm in the process of selling myself without an EA , it's going fine & I will post a general comment when all is done and dusted . However , I will comment on Advertising , I advertised on daft.ie and got ( and still getting ) plenty of genuine contacts . Two weeks later put up 2 signs " house for Sale + tel#." and got just as good a response . After 6 weeks (Aug. is dead for property newspapers) I put an ad in our regional paper ..... only got 5 calls and no noticable up-swing in daft.ie hits .
I dont know what to conclude ,,,,, but let me play devils advocate ;
1. when you pay for newspaper advertising it is not a waste of money as it improves the EA's brand recognition , just like a Shell Oil environmental ad. Unfortunately for you, people don't look for petrol or houses in a newspaper they go to a petrol station or to the web.
2. the EA's get a discount ( kick back) from the paper .
On reflection , I'm probably too hard on the EA's
PJQ
 
bnz said:
The NZ seller is motivated not only by the saving of a typical 4% agent fee plus costs but also by the desire and belief that they can sell their own home -- that they can be in control!
Click to expand...

This is very interesting as we set up the Sellityourself.ie website assuming that people would want to benefit from the cost saving but what we are finding is that many, many people are motivated by the belief that the estate agent is not doing enough to sell their property and that they can do a better job selling privately. Many people are actually switching from their estate agent to selling privately.
 
So whats the current view on Estate Agent Fees?

I have 2 agents quoting me 1.25% + extra costs for daft and myhome, one of them has a min charge of 3K. Are any of the big/good agents doing better deals? Are agents flexible with their fees?
 
I think the big issue has to be with the level of work/input required to actually sell a property.

Everything is exceptionally hard work at the moment. There aren't that many properties for sale, everything is hard to sell, the market is flooded with naive buyers who have a tendency to waste a lot of time when they haven't a prayer of ever getting a mortgage, the vendors all want a knock down deal . I could go on and on.

I think some posters will say - try and sell it yourself. I think this only works if a vendor is willing to put in the hours and truly believes there are buyers out there. And there are - but at a price which is going to be much lower than most vendors are willing to sell at.

So, in answer to the query, I'm not seeing rates much lower than quoted above. And I think you can always ask for flexibility and see what happens.

Puts hard hat on and ducks for cover.

mf
 
Time to sell and Trade Up?

JohnJay said:
So whats the current view on Estate Agent Fees?

I have 2 agents quoting me 1.25% + extra costs for daft and myhome, one of them has a min charge of 3K. Are any of the big/good agents doing better deals? Are agents flexible with their fees?
Click to expand...

Hi JohnJay, would be very interested to see if you came to any conclusions on this yourself?

I'm in the situation at the moment where I'm considering moving house. I own a house at the moment, probably valued at €300k. I bought it just under 7 years ago, as a FTB, so I am probably still going to break even worst case scenario on my original purchase price (€280k). I'm also on a Tracker Mortgage, which I realise I will have to give up if I move. So I'll weight that one up and do my sums! Or negotiate being bought out of my Tracker before I move!!!

I have what I consider to be a reasonably secure job (as far as anyone can predict these days), so I'm looking to see if I can get value in the market today. What is value?

Improved location (closed to better public transport services), slightly bigger house (increased floor area) and closer to ameneties, at a price that I think is fair and reasonable. I've no intention of moving unless I really see something I like and at a price I am willing to pay. No intention of getting into a bidding war with some competing party for a property!

So I've gone to view a few properties, and seen an area that I like, and have secured Mortgage approval (after sending in the paperwork to the bank).

I've heard that based on Annual trends, now is the time to sell. There is probably a "2 month window" left in the year to sell according to some of the EA's I've spoken to.

So now I'm going to go and investigate which EA to go with. I haven't checked their charges and/or fee's yet, don't know much about how it looks today, but will post on here. If any of you have advice, opinions or recent experience on what to look out for today when selling a house- would love to hear.

Thanks,

Rob
 
I found an agent who is charing me 1.25% without a min charge. My property went sale agreed in a very short time, and I hope to sign contracts shortly. I'm getting out without loosing too much (cept for buying out of a fixed rate mortgage, but thats another story), so I am happy. I'm going to rent for 6 months anyway, to give me a chance to get more of a deposit together and to see whats out there. I'm not convinced that we are at the bottom of the market yet, so I'm not gonna buy for a wee while.
 
Hi again JohnJay,

Do you mind me asking which part of the country you're in? Is it Dublin?
If so - Dublin North, South or West?

Just trying to get an idea as I think it varies even from Northside to Southside. My brother bought at the very end of last year and got some real value there.
 
ClubMan said:
My wife's sister's husband (don't think that's brother in law is it?) is in the EA business and told me at the weekend that the average fees these days are around 0.5% (he's mainly based in Dublin - central/Northside) due to competitive pricing pressure from one of the big EA operations in recent years. He said that a few years back 2% was not unusual.
Click to expand...

Whatever happened to clubman?
 
You must log in or register to reply here.
Back
Top