Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Auctioneers fees for advertising / selling property

Options
  • 29-04-2011 1:02pm
    #1
    gigino
    Closed Accounts Posts: 2,350 ✭✭✭


    My brother and his partner are splitting up and selling their apartment. Money is tight, one has already emigrated. To put the apartment on the market, an auctioneer has quoted them 300 euro advertising fees ( for signage / listing on website etc ) and 2.25 % sales commission, to be split between 2 different auctioneers. Is that competitive?


Comments

  • Options
    #2
    Ortiz
    Registered Users Posts: 113 ✭✭Ortiz


    2.25% sounds very high to me. €300 advertising is standard but a lot of auctioneers will quote you between 1.3% and 1.6%, unless the property is in the back arse of nowhere. Whereabouts is the property located?


  • Options
    #3
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    gigino wrote: »
    My brother and his partner are splitting up and selling their apartment. Money is tight, one has already emigrated. To put the apartment on the market, an auctioneer has quoted them 300 euro advertising fees ( for signage / listing on website etc ) and 2.25 % sales commission, to be split between 2 different auctioneers. Is that competitive?

    1% commision fee is high enough , my mum sold farm land in 2006 and the auctioneer charged a half of one percent , granted the property sold for a million


  • Options
    #4
    gigino
    Closed Accounts Posts: 2,350 ✭✭✭gigino


    Ortiz wrote: »
    2.25% sounds very high to me. €300 advertising is standard but a lot of auctioneers will quote you between 1.3% and 1.6%, unless the property is in the back arse of nowhere. Whereabouts is the property located?

    The 2.25% is to be split between 2 auctioneers, as there are joint auctioneers. 1.25% to each auctioneer. Sounds a bit high to me too. Its in Galway and neither auctioneer has to travel far to the property.


  • Options
    #5
    Dades
    Moderators, Society & Culture Moderators Posts: 25,558 Mod ✭✭✭✭Dades


    Why on earth should you have to pay two auctioneers?

    I'm currently selling my house and I'll be paying 1.6% (assuming anyone wants it :P). Other quotes were 1.75% and 1% (which reflected the amount of effort I thought they would put in).

    €300 sounds about right for property websites and brochure printing - but tell them to jump in a lake with 2.25%. You should be knocking at least 0.5% off that.


  • Options
    #6
    gigino
    Closed Accounts Posts: 2,350 ✭✭✭gigino


    Dades wrote: »
    Why on earth should you have to pay two auctioneers?
    They each want their own auctioneer. Sometimes you do see properties for sale with 2 auctioneers signs on them. 2.25% plus vat seems high all right. One person has emigrated to Oz though and is just dealing over the phone / email with their auctioneer.


  • Advertisement
  • Options
    #7
    Snakeblood
    Registered Users Posts: 4,466 ✭✭✭Snakeblood


    gigino wrote: »
    My brother and his partner are splitting up and selling their apartment. Money is tight, one has already emigrated. To put the apartment on the market, an auctioneer has quoted them 300 euro advertising fees ( for signage / listing on website etc ) and 2.25 % sales commission, to be split between 2 different auctioneers. Is that competitive?

    I paid 400 and 1.5% for a sale.

    To be honest, Auctioneers and estate agents are working for whatever they can get. Hardball.


Advertisement