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Online only estate agents - whats the catch?

  • 19-11-2018 5:33pm
    #1
    Moonjet
    Registered Users, Registered Users 2 Posts: 236 ✭✭


    Thinking of moving next year and was looking at a few of the new online estate agents (I won't mention any specific names as I'm not advertising for them) but there's 1 that seems to do everything the high street estate agents do (professional photos, floor plans, ads on daft and myhome, for sale sign, negotiation, etc) and will even conduct viewings for a small extra fee.

    The difference in cost is insane. For properties selling at 300k it's nearly 4k saving. For 500k it's nearly 7k saving. I would hope our property would sell even faster as we could pass some of this saving onto the buyer.

    Is there a catch? Would a buyer be hesitant to purchase through one of these online agents? They all seem to be registered with PSRA and buyer's solicitor would ensure all the important paperwork and everything else was above board so I wouldn't personally mind buying through one but what is the general consensus?

    Would you buy property through an online only estate agent 2 votes

    Yes
    0% 0 votes
    No
    100% 2 votes


Comments

  • #2
    L1011
    Registered Users, Registered Users 2 Posts: 71,151 ✭✭✭✭L1011


    They may not be as motivated to push a purchaser price-wise as they aren't on a % of that fee; however how motivated an agent is by a further fifty or so when they're already getting a few grand is really questionable!


  • #3
    the_syco
    Registered Users, Registered Users 2 Posts: 37,316 ✭✭✭✭the_syco


    Moonjet wrote: »
    Is there a catch? Would a buyer be hesitant to purchase through one of these online agents?
    Apart from putting your ad on the likes of Daft, what will they actually do proactively?

    When would they be available to show viewings? Are they even in your physical area?
    Moonjet wrote: »
    I would hope our property would sell even faster as we could pass some of this saving onto the buyer.
    Um, no. It's the EA's job is to fleece the buyer so you get a better price, not to give the buyer "a good deal".


  • #4
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    L1011 wrote: »
    They may not be as motivated to push a purchaser price-wise as they aren't on a % of that fee; however how motivated an agent is by a further fifty or so when they're already getting a few grand is really questionable!

    Agents always want to get the best price. Their chances of getting another property in an area depend on the neighbours of the last property sold thinking they fought to get a good price.


  • #5
    Hurrache
    Registered Users, Registered Users 2 Posts: 10,273 ✭✭✭✭Hurrache


    Moonjet wrote: »
    The difference in cost is insane. For properties selling at 300k it's nearly 4k saving. For 500k it's nearly 7k saving.

    What sort of commission are the others looking for in order to save you that much? On a 500k sale I would be looking to pay less than 7k, less than 4k on a 300k sale, nevermind saving that much.


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