Outrageous Estate Agents fees in Tramore

siobhan4100

Estate Agents in Tramore are all charging a fixed fee of around 1800 euro to sell Pebble Beach properties intead of the usual percentage of the selling price. In most cases this works out at a whopping 4.5% including VAT which is outrageous. As well it means there is no incentive for them to get a good price as they get their fee anyway. How difficult is it to sell on your own??

saintchrisburg

siobhan4100 wrote: »

Estate Agents in Tramore are all charging a fixed fee of around 1800 euro to sell Pebble Beach properties intead of the usual percentage of the selling price. In most cases this works out at a whopping 4.5% including VAT which is outrageous. As well it means there is no incentive for them to get a good price as they get their fee anyway. How difficult is it to sell on your own??

Don't know how well it would work here, but I've had friends in France who successfully sold their house - quite a nice one at that - with no agent by posting it up on a website there equivalent to gumtree here. You could always try it, you've got nothing to lose. I don't want to talk badly about agents, but a lot of them do almost nothing for you and take your money at the end as though they've done you a big favour.

invalid

Everything is easy, until you have to do it yourself

ex_infantry

have a chat with a solicitor they would point ya in right direction,
as you need one to do the transaction anyway!!!

sparkling sea

siobhan4100 wrote: »

Estate Agents in Tramore are all charging a fixed fee of around 1800 euro to sell Pebble Beach properties intead of the usual percentage of the selling price. In most cases this works out at a whopping 4.5% including VAT which is outrageous. As well it means there is no incentive for them to get a good price as they get their fee anyway. How difficult is it to sell on your own??

That sounds very much like a cartel or price fixing, as I far as I know thats illegal but I could be wrong.

I doubt the Competition Authority would look on it very kindly though.

DeiseDan

I would consider consulting legal advice, but I cant see why you cant sell the property yourself once all the legal contracts paperwork etc are in order. Depending on the visability of the said property. A simple for sale by owner sign in the window, or maybe look at online options such as daft etc may yield results as you never know who may see it. As pebble beach is no longer a "single complex" but mostly privatley owned by different people & properties managed & maintained by different people, there could well be people there on a regular basis who may be, or know someone who may be, interested in investing in a property. Also if there is a price fixing/cartel situation, it may be worth finding out the facts and notifying the relevant agencys/departments if there is any incorrect business practices taking place. I know of at least one place (not in pebble) that has been sold directly by the owner so it CAN be done! but there may be a lot of footwork involved!
Please note that this is only my opinion & not based on any knowledge of the industry.
Here's a link that may be of assistance to you.....
http://www.rte.ie/tv/theafternoonshow/2008/0115/property522.html

daaave

sold my house by myself a couple of years ago(nov 2008). had no problems even though there already was a big slowdown in the market.

I saved close to 8k in auctioneers fees by simply advertising it on daft (200 euro fee at the time iirc) arranged viewings/did the negotiating with potential buyers etc. and leaving the solicitors do the rest basically.

I had about 6-8 viewings in the 10 months the house was for sale so it was quite a fruitful undertaking if you ask me!

if you have any queries, feel free to PM me.