So I rang a few estate agents today......

Kinetic^

........Got a few quotes......some were 1% + VAT, 1.1% + VAT + 350 for advertising. 1 place wouldn't give me a quote....I asked why and he said he'd have to look at the place.....he took my number and said he'd call back (apartment not being put up for sale till next week).....if this guy has any intentions of not giving me a quote before walking in the door then he's lost a potential customer. Anybody experience this before?

Then they were asking about size, rooms etc. I was like they're on the market for 200....I want to advertise for 190 due to the market and they try to tell me that I shouldn't sell myself short. IMO I'm playing the market well by beating other people's price*. I'd be happy to let it go for 190 too. I let EA dictate before and it didn't work out, I'm calling the shots this time....like it or lump it!!!




*not the actual price of apartment, purely for example

The_Conductor

Kenny- I'm curious. The estate agent(s) obviously did not like you underpricing the local market, which would effectively be setting a new lower local price, and consequently lowering the earning potential of said estate agents......

At the end of the day it is not in the estate agents interest that you (or anyone else) undermine the local property market by setting a lower market support level for property. This is their interest. Your interest is in selling your property.

Perhaps you could update this thread later and let us know of your estate agent dealings concerning your asking price.

Shane

A Random Walk

Kenny 5 wrote:

they're on the market for 200....I want to advertise for 190 due to the market and they try to tell me that I shouldn't sell myself short.

Probably because they've about 10 other places they're trying to sell for 200 It's dog eat dog out there at the moment, if it was me I'd do whatever I could do to make my property more attractive to potential buyers, damn everyone else.

Kinetic^

Yeah will do.

AFAIK they've no other properties out there. Thing is if I want to sell at 190, then I'll sell at 190.....my apartment, my choice.

alleepally

smccarrick wrote:

Kenny- I'm curious. The estate agent(s) obviously did not like you underpricing the local market, which would effectively be setting a new lower local price, and consequently lowering the earning potential of said estate agents......

At the end of the day it is not in the estate agents interest that you (or anyone else) undermine the local property market by setting a lower market support level for property. This is their interest. Your interest is in selling your property.

I thought estate agents are meant to work for their client (the seller) and if a client wishes to put a property on the market at a certain price, the agent should acquiesce ?

What you are suggesting sounds rather like the recent case of the Ford motor price fixing. If an estate agent does not operate in the interest of the client for some alternative motive like it "not being in their interest that you (or anyone else) undermine the local property market.." then it becomes a case for the competition authority.

The_Conductor

alleepally wrote:

I thought estate agents are meant to work for their client (the seller) and if a client wishes to put a property on the market at a certain price, the agent should acquiesce ?

What you are suggesting sounds rather like the recent case of the Ford motor price fixing. If an estate agent does not operate in the interest of the client for some alternative motive like it "not being in their interest that you (or anyone else) undermine the local property market.." then it becomes a case for the competition authority.

Exactly.
I have heard annecdotal stories of estate agents who refused to list properties because they weren't "priced high enough". I'd be interested in proof......

Kinetic^

smccarrick wrote:

Exactly.
I have heard annecdotal stories of estate agents who refused to list properties because they weren't "priced high enough". I'd be interested in proof......

Well if this guy tries it, you'll find out. I talked to friend who has vast experience in property and he said I was right to go in at a lower price to generate interest. If they refuse to do it, I'll get a friend in the industry to sell it.

Alleepally, I would've thought that he was working for me too, he must have other ideas though. :rolleyes:

My gf's mother knows the agent that wouldn't give us the quote too so she's meeting him today to see what the situation is, I'll keep you updated on that as well. My friend who I spoke about earlier, had the same experience with them as well, he didn't use them either. An agency doesn't particularly need to sell itself to me, if you've a good name & rep then you'll do. This sort of sit down and talk BS is not what I need and quite frankly, he'd be wasting my time.

whizzbang

Maybe primetime will do an Estate Agent follow up show to cover their new price fixing practices?!

The_Conductor

whizzbang wrote:

Maybe primetime will do an Estate Agent follow up show to cover their new price fixing practices?!

Well they do think they are a law unto themselves. I would be thrilled (as would much of the country) to see them taken down a peg or two.....

Kinetic^

They're a salesperson and that's all. Giving them a title results in them having a sense of grandeur.

tHE vAGGABOND

estate agents are scum basically..

To use an old [and crap!] joke, you know when an estate agent is taking crap and lieing, as their mouth will be moving

Do what you want mate, if one agent messes you around, then just move on to another, its not like there is a shortage of them!

Also be aware of paying for add's that are plain not needed. A mate of mine was chaged for a big glossy add in the paper, when there were a couple of folks interested in the property already, that was basically an add for the agent and nothing else. But my mate paid a fortune for it..

Kinetic^

Ah yeah I know about the advert costs.....going to see what the EA says to the gf's mother today. Might have a friend who could do it for me as well, will make a decision after lunch.

Kinetic^

Kenny 5 wrote:

My gf's mother knows the agent that wouldn't give us the quote too so she's meeting him today to see what the situation is, I'll keep you updated on that as well. My friend who I spoke about earlier, had the same experience with them as well, he didn't use them either. An agency doesn't particularly need to sell itself to me, if you've a good name & rep then you'll do. This sort of sit down and talk BS is not what I need and quite frankly, he'd be wasting my time.

Just heard from the GF's mother, said they'd do it for .75% plus VAT, no expenses. Best of the lot so far so looks like a runner. Not putting it up on sale for another week. Will give them a call then.

Mrs_Doyle

Kenny 5 wrote:

Yeah will do.

AFAIK they've no other properties out there. Thing is if I want to sell at 190, then I'll sell at 190.....my apartment, my choice.

190 you say? I'll take it!

Avns1s

Kenny 5 wrote:

Just heard from the GF's mother, said they'd do it for .75% plus VAT, no expenses. Best of the lot so far so looks like a runner. Not putting it up on sale for another week. Will give them a call then.

Seems like a good deal.

Still, you seem to have been through it before, know the ropes, are able to boss the estate agents, so why don't you try and sell it yourself?? Save a packet and get your own say in what way to go.

Kinetic^

Avns1s wrote:

Seems like a good deal.

Still, you seem to have been through it before, know the ropes, are able to boss the estate agents, so why don't you try and sell it yourself?? Save a packet and get your own say in what way to go.

Ah I know a couple of things but I'm studying for exams so timing isn't great.

Mrs Doyle, add another 50% onto your offer and I'll talk then, only to get your offer to increase though.....this is Dublin after all

brophy

where abouts is ur apartment located m8?

Kinetic^

brophy wrote:

where abouts is ur apartment located m8?

Dublin 12.

Sponge Bob

EAs are a vendor appointed price fixing cartel . They always were and always will be . They do not take kindly to punters fixing their own prices and ignoring professional advice.

This was all fine (for the vendor) when prices were going up and they could fix the price upwards .

Kinetic^

We've decided no to sell our place at the moment. But if the EA rings me up this week I'm going to tell him that I plan on selling it myself, just to see what he has to say about that. Will let you know what he says, if anything.

luckat

I've bought two houses and sold one without an estate agent, and I'd hesitate before going to one to sell a house for me.

What decided me on the first sale was going around houses being shown by estate agents. They were doing little work to sell the houses - basically sitting in the sitting room and handing out leaflets, or occasionally bringing you around saying "This is the bathroom" in a dull tone.

When I sold my own house, my only difficulty was that friends-of-friends were terribly enthusiastic, and said they'd love to buy it, then kept me dangling for three months, while I paid a mortgage, a bridging loan, two lots of ESB and gas and phone bills, etc, and drove madly between the two houses. Finally I gave up and put it back on the market, and sold it within weeks for a better price.

I'd know again, and *never* take a house off the market until there's a deposit with my solicitor.

kmick

Are you seriously telling me that an estate agent would have a fight with you and lose your business for the sake of 100 euro...

200,000 x 1% = 2000 euro
190,000 x 1% = 1900 euro

If you are pricing to sell why not put it on the market for 195,000 but tell your estate agent to 'secretly' let anyone know who is interested that you need a quick sale and would take 190,000. The problem with property imho is people are buying into a lifestyle rather than concrete. When they see porperty cheap (this may change over the next few years) they ask 'whats wrong with it'. Everyone knows that Irish people scan the property pages and when they see something cheap or something that has been reduced they wonder what is up. Anyway I am waffling. Put it up for sale at whatever you feel is the right price for you. Take the lowest commision deal you can. Sell it and run for the hills. Don't think about the great estate agent conspiracy too much. There is an element of greed there but most people just want to do their job and go home for the night.

Kinetic^

Ah no it's nothing got to do with the EA, we're just not going to sell it for a few years. The place we were looking at to buy wasn't all it wass cracked up to be so we're going to stay put for a few more years.