Asking price to final selling price

mkdon

Where can one get informationa and official stats on the above


Seems the asking prices are way off these days

Is anything done to regulate these shower of muppets we can real estate agents

davo10

mkdon wrote: »

Where can one get informationa and official stats on the above


Seems the asking prices are way off these days

Is anything done to regulate these shower of muppets we can real estate agents

Regulate who?

EA's don't determine what the final price is, the market/bidders/buyer does. Asking price is just a guide or a minimum price that the seller thinks they will accept at the time the property is first advertised.

If you want to understand the property market, educate yourself, learn about the economics of supply and demand, factor in the over 50% of buyers who are cash buyers, increases in employment and wages, improved credit flow, lack of alternative rental accomadation etc and then apply it to the Irish property market, to blame EAs for house prices going up is like blaming your local garage owner for the price of a barrel of crude oil going up.

mkdon

davo10 wrote: »

mkdon wrote: »

Where can one get informationa and official stats on the above


Seems the asking prices are way off these days

Is anything done to regulate these shower of muppets we can real estate agents

Regulate who?

EA's don't determine what the final price is, the market/bidders/buyer does. Asking price is just a guide or a minimum price that the seller thinks they will accept at the time the property is first advertised.

If you want to understand the property market, educate yourself, learn about the economics of supply and demand, factor in the over 50% of buyers who are cash buyers, increases in employment and wages, improved credit flow, lack of alternative rental accomadation etc and then apply it to the Irish property market, to blame EAs for house prices going up is like blaming your local garage owner for the price of a barrel of crude oil going up.

Disagree the estate agents are fueling this

You must be an estate agent yourself hahah

Ha Thabks for stating the obvious!!!

Anyway still didn't answer the question at hand

Asking prices v final selling prices where do I get the stats .Surely there is a website which tracks initial sale price to final sale price information

davo10

mkdon wrote: »

Disagree the estate agents are fueling this

Wow, EAs are to blame for property increases? Hard to know what to say to that.

punk_one82

Estate agents clearly aren't to blame for the final price a house is sold at. Other countries do force estate agents to detail how they came to their guide price, as well as documenting every conversation they have around price to show where they started and how they got to where it ended up. Under quoting house prices is an obvious problem that can be addressed.

DubCount

You can get data on actual selling prices from www.propertypriceregister.ie . I have never heard of stats on asking prices v selling prices, but that would be pretty hard to come up with as asking prices are often changed as more/less interest comes in on a particular property.

Wesser

EA s can use techniques to achieve small increases in the price but the vast vast majority of price increases are due to external factors such as increased demand and no increase in supply, and higher employment rates.

For all the houses I bid on, I never felt under pressure from an EA to bid.

There is no website that will do that for you. You have to do it manually by going to the ppr website and then working back to the ad.....

Wesser

EA s can use techniques to achieve small increases in the price but the vast vast majority of price increases are due to external factors such as increased demand and no increase in supply, and higher employment rates.

For all the houses I bid on, I never felt under pressure from an EA to bid.

There is no website that will do that for you. You have to do it manually by going to the ppr website and then working back to the ad.....

topper_harley2

Daft shows original asking price, PPR shows selling price. Nothing has both as far as I know.
Neither are 100% reliable though.

Perhaps a gap in the, ahem, market!

CreativeSen

I just bought, went 15% over the ask. I was expecting and budgeting for 20% so ultimately im happy.

I never felt that I was being put under pressure by the EA or that she was holding back on info or in any fueled the price hike. The asking price wasnt artificially low, it was comparable to similar properties in the neighborhood and similar properties in similar type locations throughout Dublin.

Ultimately the reason it went over was down to the fact that there were 3 people that wanted to buy it and we were in competition with each other.

heebusjeebus

I'm selling at the moment and my EA has been nothing but professional.
He gave me a guide price for the apartment which I felt undervalued it. I decided on putting it up on the market for more than the EA suggested.

He's not been underhanded or been disingenuous to any bidders or potential bidders for the property so don't know where the OP is getting his views from.

amcalester

mkdon wrote: »

Disagree the estate agents are fueling this

You must be an estate agent yourself hahah

Ha Thabks for stating the obvious!!!

Anyway still didn't answer the question at hand

Asking prices v final selling prices where do I get the stats .Surely there is a website which tracks initial sale price to final sale price information

It's not an initial sale price though, the original asking price is nothing more than a suggested price to start bidding at. Even if you bid the asking price he seller is under no obligation to accept.

If you wanted to you could offer less than the asking price and see how you get on.

super_furry

There are cases where properties are being under-priced to drum up interest. I say one blatant example myself in Blackrock, Dublin where a cottage was under-priced by about €100,000. It was listed at €350,000 and when we went to a viewing it's no exaggeration to say that there were more than 100 people there. The estate agent was clearly acting the bollocks and put it to sealed envelope bids at which stage we removed our interest but the Property Price register tells me that it sold for €503,027.

The best way to do the detective work yourself is to look at the prices on the Property Price register and search the addresses on google. You'll get the original URL of the listing there and if there isn't a cached version then you can use the URL on archive.org like I did here https://web.archive.org/web/20170313164708/https://www.daft.ie/dublin/bungalows-for-sale/blackrock/24-st-vincents-park-blackrock-dublin-1401448/

In fairness though, that was one of a only two or three times in six months that I felt the estate agents were taking the piss. You get the disinterested ones for sure but in my search, most that I came across were decent.

Sleeper12

mkdon wrote:

Where can one get informationa and official stats on the above

You can't.

This is nothing new. If demand outstripped supply then price goes over asking price.

If supply is greater than the demand then final sale price is usually lower than the asking price

ThisRegard

mkdon wrote: »

Disagree the estate agents are fueling this

When we were selling we wanted to EA to get as much as possible over the asking price, otherwise we would have felt they weren't doing a great job.

When we were buying we wanted the EA to accept our offer as quick as possible and not hang around waiting for others to get back to them.

2 sides of the same coin.

Askthe EA

Wesser wrote: »

There is no website that will do that for you. You have to do it manually by going to the ppr website and then working back to the ad.....

Daftdrop.ie

Compare the register with daftdrop and you see the difference.

Final sale price still has little to do with the EA... We dont reach into your pocket and take your money.

TeaBagMania

Askthe EA wrote: »

We dont reach into your pocket and take your money.

Yep, gonna disagree with that

Askthe EA

TeaBagMania wrote: »

Yep, gonna disagree with that

Feel free to explain how we do?

Askthe EA

Askthe EA wrote: »

Feel free to explain how we do?

I'm not asking this in an antagonistic way, if you are an estate agent can you make any comment on phantom bids on properties? I'd be happy to accept a reputable EA wouldn't get involved in that sort of thing but from your experience is it an issue in the industry?

omb0wyn5ehpij9

Janelle Attractive Shoplifter wrote: »

I'm not asking this in an antagonistic way, if you are an estate agent can you make any comment on phantom bids on properties? I'd be happy to accept a reputable EA wouldn't get involved in that sort of thing but from your experience is it an issue in the industry?

But even if there is a phantom bid, nobody is forcing you to bid higher than the phantom bid, and spend that money

BDJW

BDJW wrote: »

But even if there is a phantom bid, nobody is forcing you to bid higher than the phantom bid, and spend that money

Are you in some way trying to suggest it's an acceptable practice?

Askthe EA

Janelle Attractive Shoplifter wrote: »

I'm not asking this in an antagonistic way, if you are an estate agent can you make any comment on phantom bids on properties? I'd be happy to accept a reputable EA wouldn't get involved in that sort of thing but from your experience is it an issue in the industry?

Obviously, I don't know every agent but I've worked in 3 agencies (of varying reputations) and have NEVER seen it. I have never even seen a suggestion of it. It simply isnt worth the risk. If you were to get caught and lose your licence well, thats your career gone isnt it?

Remember, €10,000 is a lot of money to a buyer but to an agent its worth a fraction of a fraction. (10,000 / 100 *1.5% = €150, and thats pre tax. €90 say.) Thats for the office. The agent will probably make a percentage of that.

Even if they were to do it, a buyer needn't increase their offer if they feel its too high. If buyers didnt offer as much the property would sell for less or not at all and we would see an adjustment in the market.

I genuinely feel that people look for someone to blame when things don't go their way and the EA is the easiest target as the vendor is faceless. Ultimately, we work for them and they make all the final decisions.

Askthe EA

Janelle Attractive Shoplifter wrote: »

Are you in some way trying to suggest it's an acceptable practice?

Clearly hes not. But making the valid point that a property is only worth what someone is willing to pay. Nobody can reach into your pocket and take your money.

Askthe EA

Askthe EA wrote: »

Obviously, I don't know every agent but I've worked in 3 agencies (of varying reputations) and have NEVER seen it. I have never even seen a suggestion of it. It simply isnt worth the risk. If you were to get caught and lose your licence well, thats your career gone isnt it?

Remember, €10,000 is a lot of money to a buyer but to an agent its worth a fraction of a fraction. (10,000 / 100 *1.5% = €150, and thats pre tax. €90 say.) Thats for the office. The agent will probably make a percentage of that.

Even if they were to do it, a buyer needn't increase their offer if they feel its too high. If buyers didnt offer as much the property would sell for less or not at all and we would see an adjustment in the market.

Thanks for the reply. To be honest I didn't really suspect it was common practice, just interested to get a view on it.

Askthe EA

Janelle Attractive Shoplifter wrote: »

Thanks for the reply. To be honest I didn't really suspect it was common practice, just interested to get a view on it.

No problem. When you look at the figures and the cost benefit analysis, does the risk outweigh the benefit? Absolutely.

Ive seen purchasers jump offers by €15,000 to shake off other bidders. Obviously, if a bid jumps that high one would get suspicious but it happens a lot. Normally its when a bidder has some sort of attachment to a particular property (mam lives up the road, work is within walking distance etc. Some houses are worth more to some than they are to others.

An EAs dream is when two or three of those types of bidder get involved.

ionapaul

super_furry wrote: »

There are cases where properties are being under-priced to drum up interest. I say one blatant example myself in Blackrock, Dublin where a cottage was under-priced by about €100,000. It was listed at €350,000 and when we went to a viewing it's no exaggeration to say that there were more than 100 people there. The estate agent was clearly acting the bollocks and put it to sealed envelope bids at which stage we removed our interest but the Property Price register tells me that it sold for €503,027.

The best way to do the detective work yourself is to look at the prices on the Property Price register and search the addresses on google. You'll get the original URL of the listing there and if there isn't a cached version then you can use the URL on archive.org like I did here https://web.archive.org/web/20170313164708/https://www.daft.ie/dublin/bungalows-for-sale/blackrock/24-st-vincents-park-blackrock-dublin-1401448/

In fairness though, that was one of a only two or three times in six months that I felt the estate agents were taking the piss. You get the disinterested ones for sure but in my search, most that I came across were decent.

What is wrong with setting the asking price well below the amount you'd expect to get? I'd probably favour this if I were selling and thought that more viewers => more interest => bidding war. I don't think is 'messing around' or shameful practice or anything; are there any reasons why this kind of practice shouldn't be allowed?

Askthe EA

mkdon wrote: »

shower of muppets we can real estate agents

I'm changing my avi as we speak..........

mkdon

Excuse the French but I have found there to be a lot of phantom bidding and malpractice going on as it is in EA interest to squeeze as much money as poss for house.

Where is the regulation

This is my frustration

davo10

mkdon wrote: »

Excuse the French but I have found there to be a lot of phantom bidding and malpractice going on as it is in EA interest to squeeze as much money as poss for house.

Where is the regulation

This is my frustration

What proof have you of this, or is it anecdotal?

Apart from an EA actually telling you that bids are phantom, I fail to see how you could definitively say you have experience of phantom bids.

The main beneficiary of "squeezing" money out of a buyer, is the seller, if you someday sell a property, you will appreciate that benefit.

Trumpian claim.

mkdon

mkdon wrote: »

Excuse the French but I have found there to be a lot of phantom bidding and malpractice going on as it is in EA interest to squeeze as much money as poss for house.

Where is the regulation

This is my frustration

How can you tell? What malpractice?

super_furry

ionapaul wrote: »

What is wrong with setting the asking price well below the amount you'd expect to get? I'd probably favour this if I were selling and thought that more viewers => more interest => bidding war. I don't think is 'messing around' or shameful practice or anything; are there any reasons why this kind of practice shouldn't be allowed?

You're wasting the time of, in this case, hundreds of people and creating a false illusion of what the actual price is. Stuff like that leads to the impression that the estate agent is being dishonest and it's practices like that which give them such a bad name.

Thankfully it's not common place.

davo10

super_furry wrote: »

You're wasting the time of, in this case, hundreds of people and creating a false illusion of what the actual price is.

But there is no illusion of what the final price will be, that is set by the market and only becomes reality when the highest bid is accepted.

Every day bidders get stuck in to bids on properties they want, if there is more than one bidder who wants it, the bids can increase beyond a level either the seller or the EA could invisage at the start of the process.

super_furry

davo10 wrote: »

But there is no illusion of what the final price will be, that is set by the market and only becomes reality when the highest bid is accepted.

And the estate agent knows that market and will have a more than reasonable idea what that highest bid will be.

davo10

super_furry wrote: »

And the estate agent knows that market and will have a more than reasonable idea what that highest bid will be.

Maybe a few years ago, I suspect a lot are surprised what properties are selling for now, especially in Dublin.

I really don't get the umbridge people take to properties going for well above guide, the reasons for this are well known. The shoe is always on the other foot when you sell. Just ask yourself, in a market where supply is low, would you accept the guide price on your property while knowing that bidders would pay you much more?

super_furry

davo10 wrote: »

Maybe a few years ago, I suspect a lot are surprised what properties are selling for now, especially in Dublin.

I really don't get the umbridge people take to properties going for well above guide, the reasons for this are well known. The shoe is always on the other foot when you sell. Just ask yourself, in a market where supply is low, would you accept the guide price on your property while knowing that bidders would pay you much more?

I think you're conflating two very different issues here. I'm not taking umbridge at all to houses rising in price and selling for above the asking price. That happens and especially in this market I'd expect most houses to go for 10% to 15% about that price.

Like I said earlier, it's dodgy estate agents who massively undervalue properties that are the issue here and I don't for a second buy the idea that they're caught by surprise when a property sells from nearly 50% above the guide price - particularly in the more sought-after areas in Dublin. If they are being caught out by those prices then they're bad at their job.

Having now come through the whole near-year long process of house-hunting and then buying a house I now know in hindsight which estate agents were acting the bollocks and trying to drum up interest by wasting people's time.

But like I said, thankfully it's a rare enough occurrence.

omb0wyn5ehpij9

Janelle Attractive Shoplifter wrote: »

Are you in some way trying to suggest it's an acceptable practice?

Askthe EA wrote: »

Clearly hes not. But making the valid point that a property is only worth what someone is willing to pay. Nobody can reach into your pocket and take your money.

Exactly what I meant.

CreativeSen

super_furry wrote: »

Like I said earlier, it's dodgy estate agents who massively undervalue properties that are the issue here and I don't for a second buy the idea that they're caught by surprise when a property sells from nearly 50% above the guide price - particularly in the more sought-after areas in Dublin. If they are being caught out by those prices then they're bad at their job.

A certain amount of personal responsibility must come in to play here as well. You cant just push responsibility solely on the EA. Nobody is forcing you to hand over the cash and if the price goes above your limit the likelihood is that it would have gone above your limit anyway as it is a "more sought after location".

If i saw an ad for a 3 bed house in Ranelagh for 350k I wouldnt even bother looking at it because nothing in that area is going for less than 450k and even at that price there is something seriously wrong with them!

Askthe EA

mkdon wrote: »

Excuse the French but I have found there to be a lot of phantom bidding and malpractice going on as it is in EA interest to squeeze as much money as poss for house.

Where is the regulation

This is my frustration

Rubbish! If you have evidence, I implore you to report the agents involved to the property REGULATOR (www.psr.ie) If not, all you have is supposition and innuendo brought about by discontent at being overbid.

jimmycrackcorm

super_furry wrote:

Like I said earlier, it's dodgy estate agents who massively undervalue properties that are the issue here and I don't for a second buy the idea that they're caught by surprise when a property sells from nearly 50% above the guide price - particularly in the more sought-after areas in Dublin. If they are being caught out by those prices then they're bad at their job.

A cursory glance at the PPR for what nearby properties went for would give some indication of the pricing range.

Of course the will be variances, but it would be interesting to see current examples.

Wesser

If you have real evidence if phantom bidding then report them to the prsa.

But you may find that phantom bids are in fact real bids.

Henbabani

Askthe EA wrote: »

Wesser wrote: »

There is no website that will do that for you. You have to do it manually by going to the ppr website and then working back to the ad.....

Daftdrop.ie

Compare the register with daftdrop and you see the difference.

Final sale price still has little to do with the EA... We dont reach into your pocket and take your money.

Looks like most of the property prices are going down...

Askthe EA

Henbabani wrote: »

Askthe EA wrote: »

Wesser wrote: »

There is no website that will do that for you. You have to do it manually by going to the ppr website and then working back to the ad.....

Daftdrop.ie

Compare the register with daftdrop and you see the difference.

Final sale price still has little to do with the EA... We dont reach into your pocket and take your money.

Looks like most of the property prices are going down...

I would say stabilising. Certainly in Cork.

LirW

mkdon wrote: »

Excuse the French but I have found there to be a lot of phantom bidding and malpractice going on as it is in EA interest to squeeze as much money as poss for house.

Where is the regulation

This is my frustration

Weren't you the guy who's interested in Finglas?
I've been to a lot of viewings there, around a year ago and they were always pretty busy (they did around 3 open viewings within 10 days).

The thing is the EA works for the vendor. People who sell have their expectations on what to get. The EA get's a percentage fee but a huge difference in sale price means just a few Euros more for the EA. There are dodgy lads out there alright, but the big auctioneers are professional enough to not risk their job or reputation over a few Euros, especially in an area with a decent demand.

Sometimes it's really hard for people to accept that there are a lot of other parties with a similar or higher budget that want that particular house too. Just the way it is.

mkdon

LirW wrote: »

mkdon wrote: »

Excuse the French but I have found there to be a lot of phantom bidding and malpractice going on as it is in EA interest to squeeze as much money as poss for house.

Where is the regulation

This is my frustration

My prob

Weren't you the guy who's interested in Finglas?
I've been to a lot of viewings there, around a year ago and they were always pretty busy (they did around 3 open viewings within 10 days).

The thing is the EA works for the vendor. People who sell have their expectations on what to get. The EA get's a percentage fee but a huge difference in sale price means just a few Euros more for the EA. There are dodgy lads out there alright, but the big auctioneers are professional enough to not risk their job or reputation over a few Euros, especially in an area with a decent demand.

Sometimes it's really hard for people to accept that there are a lot of other parties with a similar or higher budget that want that particular house too. Just the way it is.

Really? Where and what evidence?

mkdon

Henbabani wrote: »

Askthe EA wrote: »

Wesser wrote: »

There is no website that will do that for you. You have to do it manually by going to the ppr website and then working back to the ad.....

Daftdrop.ie

Compare the register with daftdrop and you see the difference.

Final sale price still has little to do with the EA... We dont reach into your pocket and take your money.

Looks like most of the property prices are going down...

Really? Where and what evidence?

Henbabani

mkdon wrote: »

Henbabani wrote: »

Askthe EA wrote: »

Wesser wrote: »

There is no website that will do that for you. You have to do it manually by going to the ppr website and then working back to the ad.....

Daftdrop.ie

Compare the register with daftdrop and you see the difference.

Final sale price still has little to do with the EA... We dont reach into your pocket and take your money.

Looks like most of the property prices are going down...

Really? Where and what evidence?

Look at daftdrop.ie
You can see that most of the accommodations decreased the prices.

LirW

mkdon wrote: »

Really? Where and what evidence?

If you make a complaint against an EA they have to show the whole bidding history because it's the law to keep the history and show them to the official regulation bodies. They can check this pretty easy if a bid is real or made up.
In a climate like this you can't afford damage to your reputation as your EA, you could also lose your licence over that. A bid of 5k more is around 30 euros after tax more in the pocket of an agent and noone who has the slightest amount of professionalism is going to risk their job or company over a few Euros.

Again: EAs work for the client, they work to get them the best deal. Ultimately the EA receives the instructions from the vendor and the vendor agrees on a sale. If you'd have someone bidding against themselves and they'd drop out of the sale and there would be no second highest bid you'd most likely lose a client and with them a fee.

As sleazy as EAs are, for them a house is just a number, they have to deal with this every single day. Not denying that there are black sheep but most of them just do as they are instructed.

mkdon

Henbabani wrote: »

mkdon wrote: »

Henbabani wrote: »

Askthe EA wrote: »

Wesser wrote: »

There is no website that will do that for you. You have to do it manually by going to the ppr website and then working back to the ad.....

Daftdrop.ie

Compare the register with daftdrop and you see the difference.

Final sale price still has little to do with the EA... We dont reach into your pocket and take your money.

Looks like most of the property prices are going down...

Really? Where and what evidence?

Look at daftdrop.ie
You can see that most of the accommodations decreased the prices.

Mate is this the site?
http://daftdrop.ie/ Is not opening u sure that is the link?

Henbabani

mkdon wrote: »

Henbabani wrote: »

mkdon wrote: »

Henbabani wrote: »

Askthe EA wrote: »

Wesser wrote: »

There is no website that will do that for you. You have to do it manually by going to the ppr website and then working back to the ad.....

Daftdrop.ie

Compare the register with daftdrop and you see the difference.

Final sale price still has little to do with the EA... We dont reach into your pocket and take your money.

Looks like most of the property prices are going down...

Really? Where and what evidence?

Look at daftdrop.ie
You can see that most of the accommodations decreased the prices.

Mate is this the site?
http://daftdrop.ie/ Is not opening u sure that is the link?

That's the address.
Something is happened to the website. Maybe tomorrow he'll be back online.

alastair

Henbabani wrote: »

Look at daftdrop.ie
You can see that most of the accommodations decreased the prices.

It shouldn’t really need to be said that a site dedicated to highlighting dropped price property is not going to give an overall picture of the property market. Its niche focus is there in the name. Most properties are growing pricier, not cheaper, irregardless of those that drop their asking price.

Wesser

Agreed. Also.... it doesnt state the actual selling price. Which is the data that the Op wants.

Like I said. You have to do that manually.

Many closing prices will be in excess of the dropped price on daft drop....and in excess of the original asking.