Flog gaff yourself!

gomamochi1

Hi folks
We have recently refurbed a 3bed semi in churchtown dub 14 and have to move down the country due to jobs etc. was going to place it with an est agent burn they want 1.2% to flogging it. I find this very exp especially since we hope to get 450 plus for it given work and money that was put into her! This would mean paying est agent 6/7 k for a board up in the front garden, banging an add up on my home and filling out a template brochure with the usual jargon, plus half a dozen viewings. Houses seem to be selling themselves in this area recently quite well so I find it hard to part with so much cash sine I take home about 500euro a week have not got a lot of spending money! Find it hard to see est Ag doing a weeks work all in for 6/7 k.

Enough of de rant was thinking of flogging gaff myself. Has anyone else done this? Contacted our solicitor and he gave us base fee of 1300 all in to sell the house stating also that you don't need a est Ag to sell a house all you need is an agreed price with the buyer and let the sol do all the work. Any thoughts welcome? Thanks

Bluegrass1

gomamochi1 wrote: »

Hi folks
We have recently refurbed a 3bed semi in churchtown dub 14 and have to move down the country due to jobs etc. was going to place it with an est agent burn they want 1.2% to flogging it. I find this very exp especially since we hope to get 450 plus for it given work and money that was put into her! This would mean paying est agent 6/7 k for a board up in the front garden, banging an add up on my home and filling out a template brochure with the usual jargon, plus half a dozen viewings. Houses seem to be selling themselves in this area recently quite well so I find it hard to part with so much cash sine I take home about 500euro a week have not got a lot of spending money! Find it hard to see est Ag doing a weeks work all in for 6/7 k.

Enough of de rant was thinking of flogging gaff myself. Has anyone else done this? Contacted our solicitor and he gave us base fee of 1300 all in to sell the house stating also that you don't need a est Ag to sell a house all you need is an agreed price with the buyer and let the sol do all the work. Any thoughts welcome? Thanks

The assumption is that you would achieve the exact same price as the estate agent.
That may not happen due to your lack of experience so there may not be much saving at all. Sales often break down so the house has to be marketed up to three times before finally closing.
It is easy for buyers to mess around an inexperienced seller which can be avoided if there is an agent who knows what he is doing.
Your wages are completely irrelevant to what an estate agent should charge. Some sales are easy and some a re difficult. Most agents are no sale no fee so some work goes unpaid.
Many attempts have been made to bypass estate agents (Solicitors Property services in the 1980s) various selling kists for owners etc.) but none have succeeded to any great extent.

Gloomtastic!

Try negotiating the fee? If there are so few houses for sale these days in 'good' parts of Dublin, all the agents will want it on their books.

Another fee you're going to be faced with is solicitor with their rip-off 1% fee. An alternative we used when buying our house in Dublin a few years ago was to use a country solicitor. They reduced the 1% fee to .5%. A Dublin house sells for a lot more that a country house so the solicitor is no losing out really. Most decent country solicitors have a Dublin chambers if you need to sign documents.

ted1

Can a professional salesman achieve 1.21% more for a sale than yourself?

Do you have the skills and experience required to extract as much as possible from a potential buyer.

If you skimped doing up the house you may find yourself in a position where the cost of the work is larger than the return it offers.

Corkbah

ted1 wrote: »

Can a professional salesman achieve 1.21% more for a sale than yourself?

Do you have the skills and experience required to extract as much as possible from a potential buyer.

If you skimped doing up the house you may find yourself in a position where the cost of the work is larger than the return it offers.

the inner cynic in me says that this is simply telling the buyer that there is another party interested and they have bid €5K more ...or that the seller will sell if they can go €5K higher than their last offer.

gomamochi1

Gloomtastic! wrote: »

Try negotiating the fee? If there are so few houses for sale these days in 'good' parts of Dublin, all the agents will want it on their books.

Another fee you're going to be faced with is solicitor with their rip-off 1% fee. An alternative we used when buying our house in Dublin a few years ago was to use a country solicitor. They reduced the 1% fee to .5%. A Dublin house sells for a lot more that a country house so the solicitor is no losing out really. Most decent country solicitors have a Dublin chambers if you need to sign documents.

Already using the sol we used to purchase the house for a flat rate fee of 1300 euro. He charged us 1000 euro to buy the house originally 2 years ago. This is a city sol based on Baggot st. Thanks

ted1

Corkbah wrote: »

the inner cynic in me says that this is simply telling the buyer that there is another party interested and they have bid €5K more ...or that the seller will sell if they can go €5K higher than their last offer.

Ah there's more than that, you have the gauge the person and figure out how far to push it,
From the OPs post you can already see he is attached to the house and will probably take offence to the viewers commenting how bad the work he got done was etc.

If the seller is a good at sales he should be on more than 500 a week.

AlanG

ted1 wrote: »

Can a professional salesman achieve 1.21% more for a sale than yourself?

While there is a chance of Estate Agents getting you more than you will get yourself there is also the common practice of EAs selling to their mates and not encouraging bids or following up with potential buyers. I have seen this first hand and there are many other cases where this has happened so be aware that an EA is not always acting in your best interest.

Ray Palmer

Going purely based on the OP I would say an estate agent would be better. The use of language and incorrect use of words would put buyers off. Not that it is massively bad just unprofessional. Buyers would be put off by what they would see as hassle.

Would they truly value the property correctly? Would they take comments made as an insult?

I know I would happily tell an estate agent what I thought of a property but I won't tell somebody who decorated and loves the home.

Citycap

gomamochi1 wrote: »

Hi folks
We have recently refurbed a 3bed semi in churchtown dub 14 and have to move down the country due to jobs etc. was going to place it with an est agent burn they want 1.2% to flogging it. I find this very exp especially since we hope to get 450 plus for it given work and money that was put into her! This would mean paying est agent 6/7 k for a board up in the front garden, banging an add up on my home and filling out a template brochure with the usual jargon, plus half a dozen viewings. Houses seem to be selling themselves in this area recently quite well so I find it hard to part with so much cash sine I take home about 500euro a week have not got a lot of spending money! Find it hard to see est Ag doing a weeks work all in for 6/7 k.

Enough of de rant was thinking of flogging gaff myself. Has anyone else done this? Contacted our solicitor and he gave us base fee of 1300 all in to sell the house stating also that you don't need a est Ag to sell a house all you need is an agreed price with the buyer and let the sol do all the work. Any thoughts welcome? Thanks

I, m sure prospective buyers will love hearing their future home dscribed as a gaff.
Will you have a few locals lined up outside offering to mind the viewers car for a fiver?

Corkbah

ted1 wrote: »

Ah there's more than that, you have the gauge the person and figure out how far to push it,
From the OPs post you can already see he is attached to the house and will probably take offence to the viewers commenting how bad the work he got done was etc.

If the seller is a good at sales he should be on more than 500 a week.

so you ask the question a second time...or after using "there is another bidder who has just bid slightly higher than you" you then use the... "I'm sure the seller will go for it if you can go a couple of grand higher"

...or just simply ask ... can you go an extra €5K higher - cheeky - but might work or you might get a reply of "can we split the difference" ... thats an increase of €2.5K on what would have been the final price prior to the question.