Has Any Pinster Got EA Below 1% When Selling

Currently meeting with EA’s to sell a house in the €650,000 region (it was valued at over 800,000 a few years ago) so far the 3 that we have met have all come in with a 1% fee which I assumed was good but my brother told me he paid that at the height of the boom.

Does anyone have any advice?

Also, anyone have any experience with EAs selling in Drumcondra/D9? Currently looking at Savills, Lindsays, Masons.

And has anyone ever noticed that they only ever seem to advertise southside homes in the Irish Times property section. Do us northsiders not read the newspaper??? :open_mouth:

You would have paid €8,000 a few years ago, they are now offering their services at €6,500.

If you pay them too little then they will have little incentive to sell the house.

€800,000 plus at peak

Market has already dropped 40 to 50%.

An asking price in the region of €650,000 is probably too high, making a quick sale unlikely.

Would the ease of the sale influence the estate agents commission?

I paid 1and a quarter but got quite a good service and we had a realistic price, sold quickly and EA helped get a short rental whilst we did work on the new house

I paid 0.75 % selling in that area in late 2006/ early 2007, but I guess times have changed so they may not offer that now?
Used Lisney Drumcondra and I have to say I was pretty happy with them (although very cynical about all agents, I felt they were pretty straightforward to deal with). Think the guy who sold mine since lost his job though :frowning:
(Looking back, I doubt they made a bean on it - 7 months from going to market to closing, lots of viewings taking up plenty of their time, very few offers in late 2006 - thanks to Mr McDowell and his stamp duty comments… and all for a measly 0.75%!)

I agree with the above. You should consider your asking price again. I sold 6 months ago in Drumcondra - 4 bed redbrick. House valued a few years ago at higher than yours. Took a 35% or thereabouts drop from that. Had 3 agents in before selling it and consider they all overvalued it. Went with Sherry Fitzgerald. Good service but didn’t get them for 1%. That sounds good to me.

sold 12 months ago for slightly higher asking price which was ~30% off peak.

No chance you’ll get 650K if peak was 800K unless you get a complete sucker.

To answer your question, couldn’t get anywhere below 1.5% with any of the usual suspects. Closed in 6 weeks so priced right (maybe too low, who knows…)

Why pay an EA at all?

  1. Take some photos, and draw up a floorplan
  2. Buy a pay as you go sim card and find an old phone
  3. Copy and paste some blurb from myhome.ie and daft, adjust to fit your house
  4. Post the ad on Daft with the contact details for the new sim
  5. Take phone calls and arrange viewings, no need to mention you’re the owner.
  6. To avoid the awkwardness of handling bids yourself (I think most potential buyers would be put off by that), either ask that they be submitted to your solicitor (should come in considerably under E6.5K for this additional service if you agree it in advance) or find a trusted friend who’ll pass bids back and forth. I’ll do it for E10 a phone call.
  7. When the price is agreed go to your solicitor and proceed as normal.

The work is little different to paying an estate agent.
You’d have to be there when they take the photos, you’d have to approve the blurb, the estate agent will have to contact you to arrange every viewing and you’ll have to go back and forth on the price.

If at the end of six weeks it’s clear that it won’t work, then go to an estate agent.

Update:

They all offered 1%, Lisney said 1.2% and another big named EA offered 1.2. The latter said they weren’t negotiable. And then they proceeded to show us a big advertisement page, which again, only had south side properties.

Its a 6 bedroom redbrick in a nice area.

Something that me and the other half disagreed on was the EA. One was a real wall street type as* h*le and the others were nice. Would you want an a** workin for your money or the nice people?

Time for a rerun of Glengarry Glenross methinks…

Quite frankly I’d want the person who the buyers are most likely to relate to.

When I sold a number of years back I went with the person who seemed most competent and genuinely seemed interested in the house and it’s features. It was a 3 bed Edwardian in Glasnevin that I had done up to reasonable but not amazing standard. I believe it’s more about the person who’s selling the house not the agency. Often the person who evaluates and proposes is not the person who sells your house so check.

As a potential buyer now I’m sick of dealing with as* h*le’s although there seems to be no shortage of them still hanging around the EA business. I’d likely buy a house off the non wall street type person who seems to be working with both me and the vendor to come to a deal, although I wouldn’t lose sight of the fact that I’m not employing them.

We’ve had an EA suggest they deserve 2% for selling our house. Not because it’d be hard to sell but because they’ve put up their rates to ensure they can retain their best agents in these hard times :open_mouth:

update:

We left it for a few days and didn’t think much about it as we’re in no rush…and the phone lit up. Those who wouldn’t budge on their rate were now suddenly offering 1% and when we declined called again to see what they could do to get us to take them on. Already have a private viewing arranged and there isn’t even a sign outside the door. Its all very fast. Everyone is telling us to wait until next year as there is supposed to be a pick-up in the next quarter etc

Best to ignore that advice. If you can manage to sell anywhere near €650k for a house that was valued at ~ €800k at peak then you should sell now.