Estate Agents fees and costs

donaghs

Just wondering what typical estate agent fees and costs are? And how much they can vary by? One guy is saying 1% of the sale.

A lot of estate agents are also looking for a fee to take on the house and promote it, e.g. internet stuff, signs etc. Once guy's looking for a €500 deposit, which will be returned if the house sells, but kept if we do not agree to sell in the end. Any thoughts on this?

owenstylie

donaghs wrote: »

Just wondering what typical estate agent fees and costs are? And how much they can vary by? One guy is saying 1% of the sale.

A lot of estate agents are also looking for a fee to take on the house and promote it, e.g. internet stuff, signs etc. Once guy's looking for a €500 deposit, which will be returned if the house sells, but kept if we do not agree to sell in the end. Any thoughts on this?

1% seems very fair. AS does the marketing charge seeing as this is your biggest asset

D3PO

owenstylie wrote: »

1% seems very fair. AS does the marketing charge seeing as this is your biggest asset

hmm convienent first post. vested interest perhaps ?

estate agents are desperate to pull in the cash right now push for a better deal they wont turn your business away

EKRIUQ

Estate agents don't get internet advertising, sale boards or newspaper ads for free, one or all of these are all needed to promote a property. Most estate agents work on a no sale no fee basis but advertising expenses have to be paid for.

owenstylie

D3PO wrote: »

hmm convienent first post. vested interest perhaps ?

estate agents are desperate to pull in the cash right now push for a better deal they wont turn your business away

Im actually an unemployed architect. I sold my house last year so I think I now what im talking about.

dlambirl

I agree with the other poster there. Estate Agents pay for their advertising - whether it be signboard, newspaper or online. And E.A's normally work on a no sale no fee basis but advertising must still be paid.

donaghs

Apparently the "deposit" fee are new for a lot of estate agents. They're justifying them on the basis that lots of people are interested in selling, but they can't actually sell due to lack of buyers - or more often by the unrealistic expectations of the seller. So the estate agents claim they need to cover their own costs.

I wasn't really asking about the morality of these fees, but was hoping for a more neutral opinion about the actual costs (e.g. comparitively, are they a rip off?). And also about the one-off deposit. I've never sold a house before, but I don't recall ever hearing about this before. Is this something which has gradually become more common?

EKRIUQ

What happened before is the EA used to add the advertising expenses to his fee at the end, now because it could take 12 months plus to sell a house they look for some payment upfront as there's little credit with newspapers and none with internet advertising.

€500 will get you only a small advert in local papers

Ask what the deposit if for, they should be able to give you a list.

Thanos

Any know what estate agents are charging in general, I know in Bray Sherry Fitz is 2% plus 700 euro for advertising to start with.

Would be nice to get a list going to see difference in prices between them.

kmick

Here some rough figures

Sherry Fitz 2%+Upfront 800 (Basic=DAFT+MYHOME+SF Website+Board Outside+Brochure)->2000 (Basic+Irish Times Ad etc).This can be negotitaed down to 1.75% almost immediately and 1.65% if you hold out for ages. SF claim to be the best in the market the veritable Marks and Spencers of estate agents. I dont know if this holds up to scrutiny but anyone I have dealt with there has been excellent.

Lisney 1.25% + Upfront 800 (DAFT+MYHOME+Lisney website+Board Outside+Brochure) they also do special offers on Irish Times ads at around 400+VAT

Caldwell Banker 1.25% + Upfront 800 (DAFT+MYHOME+CB website+Board Outside+Brochure)

There are a few doing it for 1% but they would be the tier 3 estate agents that you have never heard of MACAUC and the like.

CDfm

It costs money to advertise a property and skimping on it is silly if you need to sell.

Like it or not you need to be a professional to sell in this market.

Thanos

Any one know what DNG fees are????