EAs not openly advertising houses

Scrappylad

Hi all,
I am currently looking to buy a property in a town in Donegal . It will be an investment property as I live in Australia at the moment. I was talking to my solicitor in Ireland today about buying an investment property from abroad. As we got talking about house prices and bank property vs private seller, he told me something interesting. He said a lot of property is for sale but it is not necessarily being openly advertised. He said people are putting there houses up for sale with estate agents but telling the agent to find a buyer rather than openly advertise the fact that their house is for sale. He said from talking to EA's nationwide that this is happening all over the country. Has anyone else found this? And would anyone have any advice in general about sale prices vs asking at the moment.
Regards Niall

Scrappylad

Talking to one EA today and he said that he knows of this happening as well. He said that some people will not put their houses up for sale with them as they are a bit proud and don't want others to think they are in debt, when in most cases they are not. Strange world if true.

ballyharpat

I'm in contact with quite a few EA's, they are aware I am actively looking for another property, I'm not saying it doesn't happen, but down in my neck of the woods, I have not seen it and I also follow price register, so I see most of the properties that are sold as well as on the market.....

AfterHrsProp

It makes sense from an economic point of view also. Advertising & marketing a property to sell can cost quiet alot these days on top of the agents fees.

I get the impression also alot of home owners are just looking to test the market nowadays too. Will sell if they get a great price but otherwise are under no real pressure to sell

pwurple

Yup, have bought property without it being advertised. The EA's knew we were looking, and basically matched a property that was coming up, and wanted a quick efficient sale, to our needs.

L1011

Extremely common in Donegal - no idea why. Back home some houses get the sign up but never appear anywhere else - online, EA window, etc

Scrappylad

Maybe there is something to it after all. Would these non advertised properties still have to appear on the property price register when sold?

the_syco

For some, it's so that only local people get the house. Happens if they get "on with" the neighbours, and don't want some random unknown coming in.

Also can happen if they need to put it "for sale" by the bank, but not want to actually put it for sale.

spaceHopper

We were shown a house by an EA that hand not been put up yet as the sellers wanted to sell it with quietly or were testing the market first once you get to know an EA from viewing other house it happens. We weren't the only onces at the the viewing. And if an EA gets a house and has buyer they sometimes show them it before it goes on Daft Myhome...

MarkAnthony

Sellers may want a quiet sale for any number of reasons; the capacity for the good ol' catholic shame about everything never ceases to amaze me in Ireland but that aside perhaps they don't want every time wasting tyre kicker and his dog.

Scrappylad

Funny enough one EA alluded to the fact that it may be that the irish don't want people to know they're selling . It seems they feel ashamed if the fact.

ElizKenny

We sold our house in Dublin recently and had the estate agent not advertise it.
We didnt really want the neighbours nosing and the last time we sold a house there were a lot of time wasters and even, to my surprise, some neighbours who took it as an insult that we were leaving the area.
Estate agent suggested we do it this way and see how it went.
He had people enquiring about other houses and when they were viewing or whatever he would tell them about our house and show it to them too.
That way we only got people who were interested. Of course you cant filter out all the time wasters and might miss out on some potential buyers, but it worked out well in the end for us.

PS - The house we ended up buying wasnt advertised online either.

Mrs OBumble

There's an estate agent in Galway who recently advertised in one of the papers for properties that people want to sell without advertising or signage.

I can't find the paper now - think it was the Galway Indo a couple of weeks ago, but cannot be sure - but am pretty sure they were looking for executive / professional 3+brm homes in the more desirable parts of town (Taylors Hill, Claddagh, Bushypark, Barna ... and I think there were a few others listed).