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Property not sold - do I owe the estate agent?

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  • 30-12-2013 4:16pm
    #1
    newbie2013
    Registered Users Posts: 405 ✭✭


    My house has been on the market with him for 2 years, at the time i was desperate to sell it to use the money for some other investments and to pay of what i owed some family members. I would only owe about 9% on what the house is worth in this climate (150-200k) Now ive had alot of thought about it and am thinking of taking it off the market for another 5-10 years but was wanting to know, do i owe the estate agent anything for all the call outs he done with potential buyers and advertising.


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    #2
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,871 Mod ✭✭✭✭L1011


    Check the contract you signed with them. There's no way to answer without knowing what you agreed to.

    Usually you will have to pay for advertising at the bare minimum - this would usually be a fixed fee to cover the website listings, putting up the sign, ads in papers if they still do that, etc.


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    #3
    Bigcheeze
    Closed Accounts Posts: 2,858 ✭✭✭Bigcheeze


    Generally no. They operate on a no foal no fee basis.


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    #4
    newbie2013
    Registered Users Posts: 405 ✭✭newbie2013


    MYOB wrote: »
    Check the contract you signed with them. There's no way to answer without knowing what you agreed to.

    Usually you will have to pay for advertising at the bare minimum - this would usually be a fixed fee to cover the website listings, putting up the sign, ads in papers if they still do that, etc.

    No contract signed


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    #5
    Santa Cruz
    Banned (with Prison Access) Posts: 3,126 ✭✭✭Santa Cruz


    newbie2013 wrote: »
    My house has been on the market with him for 2 years, at the time i was desperate to sell it to use the money for some other investments and to pay of what i owed some family members. I would only owe about 9% on what the house is worth in this climate (150-200k) Now ive had alot of thought about it and am thinking of taking it off the market for another 5-10 years but was wanting to know, do i owe the estate agent anything for all the call outs he done with potential buyers and advertising.

    My experience with a leading Dublin firm is that you pay up front for advertising. This is about 350 plus VAT for a three bed house.
    The contract states that there will be no other fee incurred until they supply your solicitor a purchaser with a signed contract. If you withdraw the house from sale at that point you are still liable for the full auctioneer's costs.

    In your case you have not reached this point so you should be allright.


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    #6
    newbie2013
    Registered Users Posts: 405 ✭✭newbie2013


    What about if a buyer came in for my property, i looked at others but didnt see anything i like then refuse the offer. Am i stilll liable for the costs


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    #7
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    newbie2013 wrote: »
    What about if a buyer came in for my property, i looked at others but didnt see anything i like then refuse the offer. Am i stilll liable for the costs

    If the EA got you an offer of asking and you refused it and pulled the house of the market your likely to be libel to pay the EA yes.

    As others have said your going to be libel for at min the advertising costs. Seems very strange to me that no contract was signed though.


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