selling your own house

davo10

I wish more properties were sold directly by the owners, it would be a lot cheaper for buyers and experienced investors would make a fortune.

jsd1004

Tar.Aldarion wrote: »

Am renting and have yet to meet a competent estate agent, maybe it is different with selling houses? The posts above saying they could get you more than their fees worth extra...they don't really have much incentive to push, 1% of the extra is all they will be increasing their fee. As to whether somebody should use one depends on how they think they can handle selling their own house, what skills/attributes they have for doing so, how much time they have to devote to it and so on. It would not be a good idea for he average person most likely.

EA's want a sale. The end sale price is really irrelevant to them. I bought a house through an estate agent and she never knew that planning had been granted previously for an extra house on the site. It was a receiver sale. A small bit of research from the EA and she would have got an extra 50k by just advertising that fact. Sometimes you can make money off a clueless auctioneer. A good idea is not to ask them too many questions as that will only educate them about what they are selling. Do your own research.

JohnCleary

Sold myself without using EA.

The only reason I can see why anyone would use an EA is if they either don't have the time to offer viewings, or are out of the country.

Granted I have an excellent solicitor, but it couldn't have been easier.

If selling again in future, I won't be using an EA.

L1011

Graham wrote: »

PPR isn't that useful unless you you want to be basing your decisions on values achieved 6 months ago.

But you can't trust any claims about sale prices made by an EA. So they're not is useful ever

arctictree

I hear loads of stories of buyers unable to contact EAs to get a bid in. Happened to me. For that reason alone, I would not use an EA.

Ush1

I'd echo the "getting the best price" fallacy. The EA wants a sale and the quicker the better. They are not too bothered in getting a small amount of extra commission, they just want a sure thing.

ted1

JohnCleary wrote: »

Sold myself without using EA.

The only reason I can see why anyone would use an EA is if they either don't have the time to offer viewings, or are out of the country.

Granted I have an excellent solicitor, but it couldn't have been easier.

If selling again in future, I won't be using an EA.

Or EAs have no soul and can extract more money from buyers than you can

You may have sold yourself. But did you get the best price ?

Claw Hammer

Ush1 wrote: »

I'd echo the "getting the best price" fallacy. The EA wants a sale and the quicker the better. They are not too bothered in getting a small amount of extra commission, they just want a sure thing.

Nonsense. The EA wants to get the next sale. If the neighbours think that he undersold they won't deal with him.

arctictree

Claw Hammer wrote: »

Nonsense. The EA wants to get the next sale. If the neighbours think that he undersold they won't deal with him.

Not nonsense. You hear time and time again of buyers not being able to contact EAs to get their bid in. Or of buyers being told that they would be contacted and then the house going sale agreed without a phone call to them.

1641

arctictree wrote: »

Not nonsense. You hear time and time again of buyers not being able to contact EAs to get their bid in. Or of buyers being told that they would be contacted and then the house going sale agreed without a phone call to them.

So on the one hand "you hear" of agents not bothering to take bids from interested parties while also "you hear" of agents making up bids to artificially generate a bidding war.

TeaBagMania

I would much rather deal directly with the home owner when purchasing

In the US you sign a contract with the EA and they have 30, 60, 90 days etc to sell, if house doesn't sell than both parties go their separate way and no fees paid to EA as the house didn't sell
EA only gets paid if house sells

Just curious if EA's, work similarly in Ireland

JohnCleary

ted1 wrote: »

Or EAs have no soul and can extract more money from buyers than you can

You may have sold yourself. But did you get the best price ?

I got more than my asking price. The asking price was what I was happy to sell it for. The final price was higher. I made it clear that I was happy to sell at my asking price but people started bidding against each other.

I told people to have their final bid in by X date. The person who made the highest bid now owns the property. I took people on their word and didn't ask for documents etc. And it worked out fine.

Both parties very happy and a quick sale as no EA middleman.

I will say though that I had many viewings which took approx 1 hr per view, some phantom bids etc. But all in all id do it again in a heartbeat and loved almost every minute of the process

Tigerandahalf

I think this is a good idea. Estate agents don't offer a lot of input now that we have smartphones and the price register.

Some of the photos I have seen put up by EAs are terrible, wrong details on the house or the gps location is completely off.

If you are buying off the seller direct you are also likely to get a good run down on how everything is setup in the house and can get anything clarified straight away.

I think it is when you want to buy a certain type of house, site or area to live in that the EA has something to offer perhaps.

ted1

JohnCleary wrote: »

ted1 wrote: »

Or EAs have no soul and can extract more money from buyers than you can

You may have sold yourself. But did you get the best price ?

I got more than my asking price. The asking price was what I was happy to sell it for. The final price was higher. I made it clear that I was happy to sell at my asking price but people started bidding against each other.

I told people to have their final bid in by X date. The person who made the highest bid now owns the property. I took people on their word and didn't ask for documents etc. And it worked out fine.

Both parties very happy and a quick sale as no EA middleman.

I will say though that I had many viewings which took approx 1 hr per view, some phantom bids etc. But all in all id do it again in a heartbeat and loved almost every minute of the process

More than your asking price means nothing. You could of been asking for to little.
Once people bid the highest price an EA would have extracted more.

kippy

ted1 wrote: »

More than your asking price means nothing. You could of been asking for to little.
Once people bid the highest price an EA would have extracted more.

You cannot state this as fact.

4ensic15

kippy wrote: »

You cannot state this as fact.

He just did!

ted1

kippy wrote: »

ted1 wrote: »

More than your asking price means nothing. You could of been asking for to little.
Once people bid the highest price an EA would have extracted more.

You cannot state this as fact.

Offers exceeded the asking price , so you set it to low especially if you were willing to accept it. That’s a fact.

You accepted the final bid an, EA would have got this up. That’s a fact

mcbert

ted1 wrote: »

Offers exceeded the asking price , so you set it to low especially if you were willing to accept it. That’s a fact.

You accepted the final bid an, EA would have got this up. That’s a fact

Huh? A fact? Nonsense. Certainly possible, of course. Likely? That depends. I imagine many people trying to buy in Dublin for example have personal examples of EAs being disinterested, ignoring bids, hard or impossible to get in touch with etc. I personally have more than one example. I dont believe fake bids are too common but sellers missing out on the best possible price because their EA doesnt think it is worth their time for the tiny return, that makes sense. Hey, i even remember being unable to leave a voicemail bevause the advertised number mailbox was full all the time. Something else odd was going on there. Yeah vendors can reject the best offer, thats not what im talking about, i mean difficulty getting through to the EAs to bid or get information. That is not so rare.

davo10

mcbert wrote: »

Huh? A fact? Nonsense. Certainly possible, of course. Likely? That depends. I imagine many people trying to buy in Dublin for example have personal examples of EAs being disinterested, ignoring bids, hard or impossible to get in touch with etc. I personally have more than one example. I dont believe fake bids are too common but sellers missing out on the best possible price because their EA doesnt think it is worth their time for the tiny return, that makes sense. Hey, i even remember being unable to leave a voicemail bevause the advertised number mailbox was full all the time. Something else odd was going on there. Yeah vendors can reject the best offer, thats not what im talking about, i mean difficulty getting through to the EAs to bid or get information. That is not so rare.

As someone who has bought and sold over 30 properties in the last 20 years, I can assure you I would prefer to buy from an owner direct, and I always use an EA to sell. An experienced EA and and inexperienced seller, that's no contest for any savvy buyer.

JohnCleary

ted1 wrote: »

More than your asking price means nothing. You could of been asking for to little.
Once people bid the highest price an EA would have extracted more.

Actually, it exceeded other si.ilar properties in the area and I was a little gobsmacked by the price I achieved. I put this down to a heating market.

All that matters is that I was extremely happy with the result. But don't let the truth get in the way of your little fairy story.

You sound (Not saying you are) like a begrudged EA who won't accept the fact that your profession is as useful as a chocolate teapot

davo10

JohnCleary wrote: »

Actually, it exceeded other si.ilar properties in the area and I was a little gobsmacked by the price I achieved. I put this down to a heating market.

All that matters is that I was extremely happy with the result. But don't let the truth get in the way of your little fairy story.

You sound (Not saying you are) like a begrudged EA who won't accept the fact that your profession is as useful as a chocolate teapot

You'll never know if you would have gotten more had an EA been there to advise to hold on a little longer or to play the bidders off against each other. You saved yourself the EA fee, but you may well have lost out on selling for a higher price. But you are happy with the price, that's all that matters.

ted1

JohnCleary wrote: »

ted1 wrote: »

More than your asking price means nothing. You could of been asking for to little.
Once people bid the highest price an EA would have extracted more.

Actually, it exceeded other si.ilar properties in the area and I was a little gobsmacked by the price I achieved. I put this down to a heating market.

All that matters is that I was extremely happy with the result. But don't let the truth get in the way of your little fairy story.

You sound (Not saying you are) like a begrudged EA who won't accept the fact that your profession is as useful as a chocolate teapot

I’m an engineering consultant, but don’t let that ruin your rant.

uck51js9zml2yt

TeaBagMania wrote: »

I would much rather deal directly with the home owner when purchasing

In the US you sign a contract with the EA and they have 30, 60, 90 days etc to sell, if house doesn't sell than both parties go their separate way and no fees paid to EA as the house didn't sell
EA only gets paid if house sells

Just curious if EA's, work similarly in Ireland

We dont have the time limits generally, but its a case of no sale, no fee except for initial outlay like advertising.

tempnam

Are there actually any estate agents on this thread? Looks to be plenty of experts anyway

JohnCleary

ted1 wrote: »

I’m an engineering consultant, but don’t let that ruin your rant.

And i'm the one that own(ed) my properties. As you say, all that matters (to me) is that I was happy.

I don't see why you're getting so worked up about it, arguing for the sake of it. It's my property (or was, in this case), my money.... I wish I had so little going on in my life that I was getting ruffed about other peoples business. Some day, some day!

jb73Dub

Used a new hybrid agent to sell an apartment in Dundrum. Incredible service from start to finish - everything you would expect from an honest agent and more - they ended up getting me €30k more than my neighbour who went sale agreed 2 weeks before mine. Best part I saved about €7k in fees and was kept in the loop of the sale 24/7. Have already referred them to two friends. Never again will I use a old agent.

4ensic15

jb73Dub wrote: »

Used a new hybrid agent to sell an apartment in Dundrum. Incredible service from start to finish - everything you would expect from an honest agent and more - they ended up getting me €30k more than my neighbour who went sale agreed 2 weeks before mine. Best part I saved about €7k in fees and was kept in the loop of the sale 24/7. Have already referred them to two friends. Never again will I use a old agent.

Yeah, sure.

mcbert

jb73Dub wrote: »

Used a new hybrid agent to sell an apartment in Dundrum. Incredible service from start to finish - everything you would expect from an honest agent and more - they ended up getting me €30k more than my neighbour who went sale agreed 2 weeks before mine. Best part I saved about €7k in fees and was kept in the loop of the sale 24/7. Have already referred them to two friends. Never again will I use a old agent.

Yeah im no fan of EAs, but this just reads like a bit of self promotion. I dont believe it.

awec

Having to answer every single phone call and talk to every half-interested party would be hell for me, and most others I'd imagine.

mcbert

awec wrote: »

Having to answer every single phone call and talk to every half-interested party would be hell for me, and most others I'd imagine.

And EAs perhaps? Lol