Estate Agent What are the Fees Charged?

[werner]

How much are Estate Agents charging to sell houses in Dublin?

Friend was initially asked for 1.5% by Sherry Fitz but negoiated 1%

ANyone care to post examples that they are currentley being charged in this now depressed housing market?

Thanks

 

[MrMan]

Do you expect that the price has gone up or down.

 

[pigeon1916]

How much are Estate Agents charging to sell houses in Dublin?

Friend was initially asked for 1.5% by Sherry Fitz but negoiated 1%

ANyone care to post examples that they are currentley being charged in this now depressed housing market?

Thanks

-----------------------------------------------------------------------
1.

Commision = 1.5%
Sherry Fitz (Drogheda)


2.
​

Commision = 1.25%
RE/MAX Boyne Valley (Drogheda)

3.
Commision = 1.00%
Gallagher (Drogheda)
4.
Commision = 1.25%
DNG (Drogheda)
​

5.
Commision = 1.00%
Thomas Byrne (Drogheda)
​

Don't forget you have to add VAT and Advertisement money.

Best to do what your friend done. Hard Ball Them.



​

 

[werner]

Do you expect that the price has gone up or down.

With so much housing stock out there you would expect the price to go down.

I have bargained and got the price down by .5%

I am ciurious as to what various EA's are genuinely charging, not their first quoted price to the emm! inexperienced.

Thanks for the excellent reply pigeon1916

 

[raven]

I'm planning on not using an EA at all.

With the great leveller that is the internet, - I see little benefit in using an EA nowadays, - as long as you are comfortable negotiating yourself (which, lets face it for most people shouldn't be rocket science).
The EA office window is of little value these days now that we have daft.ie and such.

So, the most competitive cost is 200 euro for a daft ad, and maybe 100 euro for a sign. No EA playing tricks trying to make a sale against your best interest, - remember they only want to get a sale, making 10 or 20K extra for you is of very limited benefit to them.

With so much housing stock out there you would expect the price to go down.

I have bargained and got the price down by .5%

I am ciurious as to what various EA's are genuinely charging, not their first quoted price to the emm! inexperienced.

Thanks for the excellent reply pigeon1916

 

[MrMan]

I'm planning on not using an EA at all.

With the great leveller that is the internet, - I see little benefit in using an EA nowadays, - as long as you are comfortable negotiating yourself (which, lets face it for most people shouldn't be rocket science).
The EA office window is of little value these days now that we have daft.ie and such.

So, the most competitive cost is 200 euro for a daft ad, and maybe 100 euro for a sign. No EA playing tricks trying to make a sale against your best interest, - remember they only want to get a sale, making 10 or 20K extra for you is of very limited benefit to them.

Could this be a vested interest posting or is that only on the other side of the fence.

 

[Deb___]

Good thread. I'm very interested in this myself too. I was quoted 1.5% a few days ago but I got him down to 1% within a few minutes. I'm going to ring a whole lot more of course (though 1% isn't bad).

I dunno about the self-sell approach. Eddie Hobbs has been pushing it big time in the last few issues of his mag. It's worth a shot as you don't legally need an EA. But isn't selling a house stressful enough without all the added pressure? I might try an EA for a few months and if nothing's happening try a self-sell approach.

Looking forward to hearing more charges.

 

[dazza21ie]

I'm planning on not using an EA at all.

With the great leveller that is the internet, - I see little benefit in using an EA nowadays, - as long as you are comfortable negotiating yourself (which, lets face it for most people shouldn't be rocket science).
The EA office window is of little value these days now that we have daft.ie and such.

So, the most competitive cost is 200 euro for a daft ad, and maybe 100 euro for a sign. No EA playing tricks trying to make a sale against your best interest, - remember they only want to get a sale, making 10 or 20K extra for you is of very limited benefit to them.

It is very much in the EA's interest in obtaining the best price for a vendor. Firstly the higher the price the high the commission the recieve. Like any other business if they do not do a good job for their clients they will struggle to survive.

It may not be rocket science but there definitely is a skill involved in selling property and a good EA would have developed this over years of experience.

 

[dublinli]

on the extra 10,000 euro that you would want, EA would get 100 euro extra. So do you think 100 euro extra fro them is as important as 10,000 euro for you.

I believe that alot of EAs in Ireland, particularly the ones who started working in the past 7-8 years, do not know how to sell because they never had to, people were in a queue to buy a house. In my view all they did was to show the house to potential buyers.

we arrange to have a look at few new developments recently but you would think that they would do everything possible to meet you but no that would be too much work. they wouldn't arrange viewing saturday, they couldn't meet at lunch time so I sent a letter to the builder and he got someone to arrange viewing from EA

 

[MrMan]

on the extra 10,000 euro that you would want, EA would get 100 euro extra. So do you think 100 euro extra fro them is as important as 10,000 euro for you.

I believe that alot of EAs in Ireland, particularly the ones who started working in the past 7-8 years, do not know how to sell because they never had to, people were in a queue to buy a house. In my view all they did was to show the house to potential buyers.

we arrange to have a look at few new developments recently but you would think that they would do everything possible to meet you but no that would be too much work. they wouldn't arrange viewing saturday, they couldn't meet at lunch time so I sent a letter to the builder and he got someone to arrange viewing from EA

Your argument is often turned the other way round with some people saying the EA might not bring back a low offer because he wants more commission so go straight to the vendor! It all seems a little like pub logic taking over with a little bit of freakonomics thrown in.

 

[johnspica]

In a market where fewer houses are selling estate agents fees tend to rise as they are not earning if they're not selling. Some people are excellent at selling their own home, others are atrocious. Despite all the negative generalising I believe a good estate agent will always earn his fees, the problem is how do you pick a good one.

 

[raven]

Could this be a vested interest posting or is that only on the other side of the fence.

If you can figure out a way for me to profit from pointing out the option of not using an EA, i'd love to hear it.

 

[dublinli]

Your argument is often turned the other way round with some people saying the EA might not bring back a low offer because he wants more commission so go straight to the vendor! It all seems a little like pub logic taking over with a little bit of freakonomics thrown in.

it is not as if EAs are getting loads of offers for properties at the moment.
freakonomics is a good title for a book but I'd rather read actual economics articles from AER or EJ

 

[Vanilla]

If you can figure out a way for me to profit from pointing out the option of not using an EA, i'd love to hear it.

Owning a 'sell it yourself' type website?

Or being a buyer in this market, hoping that a sell it yourself person will sell for less than an estate agent might get them?

 

[PaulHoughton]

I am not an estate agent

1% is a normal rate right now.

Small agents are more amenable to deep discounting than larger agencies where there will be a central policy on how low they can quote. In some areas, the agents form a cartel and set a minimum commission rate. If they all give the same % then try further afield.

You should be able to find an agent to sell a house for 4K. The amount of work involved in selling a large house is the same as a small house so there is no reason to pay more.

The problem about the agent not having an incentive to get that extra 10K can be fixed by changing the charging structure. eg a fixed small fee and 10% of everything above that level.

In reality, there is unlikely to be an extra 10K. Prices are now sliding and often an agent will sell a house several times over the course of a few months but the vendors will not accept the offers. The final offer they accept is often lower than the original offer presented. Gazundering is happening more often than not and every sale is a nightmare to complete. I would say the need for an agent is a falling market is more than in a rising market.

myhome.ie only takes ads from agents, so if you are in an area where myhome.ie is listing most of the properties then you will need an agent.

 

[raven]

Owning a 'sell it yourself' type website?

I mentioned daft.ie, - which I can assure you I don't own

Or being a buyer in this market, hoping that a sell it yourself person will sell for less than an estate agent might get them?

I'd have my work seriously cut out for me trying to "influence" the entire market on an internet forum in an effort to induce a new selling trend to my benefit

 

[MrMan]

If you can figure out a way for me to profit from pointing out the option of not using an EA, i'd love to hear it.

There are sell it yourself style websites out there, I wouldn't really include daft as they are not exclusive to private sellers. I wasn't really putting the boot into you it was more of a swipe at all the times that any info put forward by someone with a positive spin on EA's etc would be classed as a VI.

 

[MrMan]

it is not as if EAs are getting loads of offers for properties at the moment.
freakonomics is a good title for a book but I'd rather read actual economics articles from AER or EJ

'Freakonomics is a book that has a chapter covering the ideas that the poster I was referiing to alluded to.

 

[raven]

There are sell it yourself style websites out there, I wouldn't really include daft as they are not exclusive to private sellers. I wasn't really putting the boot into you it was more of a swipe at all the times that any info put forward by someone with a positive spin on EA's etc would be classed as a VI.

Fair enough, - and i'm certainly not advocating that everyone should sell without an EA, - you should at least be reasonably confident in your negotiation skills (perhaps in some other area practiced in your job) before negotiating the sale of whats most likely your most major asset.