Using an broker to bid?

Has anyone had any experience in using an professional intermediary to act on your behalf as a bidder?

I know from conversation that some do/may already use them, but I wanted to get any feedback from others who have gone down this route.

I ask because having been involved in a number of bidding wars I would prefer to have a sanity buffer between myself and an estate agent.

A quick google found an example at buyersagent.ie

They advertise a bidding service for 0.5% + vat of the consideration. If I thought that an EA was likely to be more honest with a broker than trying to bluff more money from me as a bidder I would happily pay the price.

Anyone have an experience or view they would like to share?

That is a rather hefty amount of money for putting in bids. I believe you are looking at houses around the €1m mark, so that would be the equivalent of €5,000 on a house at that level. I recall that they usually charge fees of around 1% for the full service, i.e. finding house through to closing contracts (which I assume includes bidding), so 0.5% for just bidding seems disproportionate.

I believe that mr_anderson on here can offer such a service (one pinster told me he used him in this capacity), perhaps you could PM him to see if he can help and what he might charge for same.

I can see advantages to it, but personally I don’t have any issues bidding on my own behalf.

Check this thread out before using Buyersagent.
viewtopic.php?f=10&t=27873

Have these guys ever done an Irish edition?

Edit: You sound like you mightn’t make a bad agent yourself Mantissa.

It is always funny to compare the quick turnaround that they get in answer to a bid form an estate agent to the reality of how long it takes in Ireland.

Also it’s always fascinating to hear bids go up in 1k or 2k increments. Almost as a rule on that programme. Whereas in my experience in Ireland 5k+ increments are more standard at least at the very start of the bidding.

A friend of mine said that was one thing that changed with the new mortgage rules, bid increments reduced significantly because buyers had harder limits on spending ability; gone are the 10k bids and back to 2k or so.

lol
I had a 3 week stand off over €500

I’m leaning more and more towards using an agent for bidding. Our search area is quite narrow and potential houses tend to come up with the same agents. At this stage they know too much info where I stand and I know too little about the vendors.