Estate agent fees if you take a house off the market

Duffryman

A hypothetical - if you put a house up for sale to test the market, but don't get any satisfactory offers and decide to rent it out instead, what might the estate agent involved charge for their time and services involved?

JJJackal

Duffryman wrote: »

A hypothetical - if you put a house up for sale to test the market, but don't get any satisfactory offers and decide to rent it out instead, what might the estate agent involved charge for their time and services involved?

Depends what agreement was struck with the EA at the time the house was put for sale - some I believe have a no sale no fee policy (some will just charge you for the adds, leaflets signs and so on).

I am sure some charge more

Manzoor14

Both EAs that I got in touch with before putting the house on the market charged a 'marketing' fee upfront, to be paid before they put the house for sale. €738 incl VAT was one figure, I can't remember the other, but it was thereabouts the same. Then they charge a % commission upon completion of sale. I'm not sure if this is standard, but both EAs, SherryFitz and Lisney, quoted me that so I presumed so.

happyfriday74

Both EAs that I got in touch with before putting the house on the market charged a 'marketing' fee upfront, to be paid before they put the house for sale. €738 incl VAT was one figure, I can't remember the other, but it was thereabouts the same. Then they charge a % commission upon completion of sale. I'm not sure if this is standard, but both EAs, SherryFitz and Lisney, quoted me that so I presumed so.

Yes, its standard for you to pay them for the marketing costs, photographing the place, producing the brochure and putting the ad online or in the paper etc.

Nearly all places will charge for a the above upfront and you wouldn't get this back as the designers/photographers daft & local paper are all third parties and not on the EA's payroll.

Jurgen The German

happyfriday74 wrote: »

Yes, its standard for you to pay them for the marketing costs, photographing the place, producing the brochure and putting the ad online or in the paper etc.

Nearly all places will charge for a the above upfront and you wouldn't get this back as the designers/photographers daft & local paper are all third parties and not on the EA's payroll.

I've been dealing with Ray Cooke and there is no upfront fee payable.

machalla

Its pretty standard that they charge for marketing fees

€738 plus vat strikes me as extortionate by the way. I've never seen a quote that high before for just marketing costs. What I've seen quoted is €300-500 typically. Or no marketing fees at all with my current agent which is what you want if theres a risk of no satisfactory offers.

partyguinness

Check the small print.

Duffryman

Hi all. Thanks for the replies.

I'd expect to have to pay for things like advertising costs incurred all right. Was just wondering if there'd likely be a fee for time spent by them on anything else, such as arranging the advertising, hopefully doing a few viewings, and maybe dealing with an offer even if turned out to be too low, so that you decided not to sell at all, and rent it out instead.

Basically, we might be in a situation ourselves sometime in the coming months where we've to make that sort of decision. Guess we just have a pretty detailed talk with the estate agent at the outset if we decide to do the 'test the market' thing!

Manzoor14

machalla wrote: »

Its pretty standard that they charge for marketing fees

€738 plus vat strikes me as extortionate by the way. I've never seen a quote that high before for just marketing costs. What I've seen quoted is €300-500 typically. Or no marketing fees at all with my current agent which is what you want if theres a risk of no satisfactory offers.

€738 includes VAT, so ~€600 plus vat. It was the most favorable taking into account the % commission prices we were quoted - 1.5% vs 1.75%, and 3% from a third EA that we didn't bother getting an upfront marketing quote from.

Duffryman wrote: »

Hi all. Thanks for the replies.

I'd expect to have to pay for things like advertising costs incurred all right. Was just wondering if there'd likely be a fee for time spent by them on anything else, such as arranging the advertising, hopefully doing a few viewings, and maybe dealing with an offer even if turned out to be too low, so that you decided not to sell at all, and rent it out instead.

The €738 price I quoted includes all the above, all advertising, brochures, photographer in for photos (and photoshop touch-ups if required! :pac:) viewings etc. We got a whole itemised list of what was included, i'll try dig it out if you want it.

I suppose we didn't have an option, we're selling the house, we don't live there anymore and just wanted somebody to handle absolutely everything with as little hassle as possible. Maybe it was expensive, but in the overall cost of things a few hundred €€s doesn't make much difference either way.
Best of luck with the sale!

4ensic15

It is tantamount to fraud to ask an agent to market your house when you have no intention of selling, if you don't disclose what you are doing. Agents will give a free valuation in contemplation of a sale and that should be adequate. Some agents offer a no sale no fee arrangement but if you withdraw after they have started the marketing they will sue for a fee.

Duffryman

Manzoor14 wrote: »

We got a whole itemised list of what was included, i'll try dig it out if you want it.

Thanks, but no need for that. This really is purely a hypothetical at this stage. And might not ever become a reality at all. Was just wondering what the situation might be.

Edgware

Duffryman wrote: »

Thanks, but no need for that. This really is purely a hypothetical at this stage. And might not ever become a reality at all. Was just wondering what the situation might be.

You can expect to pay for the marketing, photos, brochures etc.
However in my experience you can withdraw without further cost anytime UNLESS you have accepted an offer.
I have seen it where the contract with the Estate Agents says thst he requires full payment in such cases.
Of course contracts differ

AsianDub

Anyone tried the likes of Moovingo? Think I'll go with them if I ever decide to sell.

mrslancaster

OP have a look at the sample agents contract/ letter of engagement on the psra website. It might have information or a clause about changing your mind or how you can cancel if you withdraw before a sale. Best of luck

http://www.psr.ie/en/PSRA/Pages/Sale_other_than_Auction

mikemac2

For the €600 plus VAT do you get to keep the photographs? You paid for the photographer after all

Then if you go with another agent in future no need to pay for professional photos a second time

Just wondering

adox

I think we paid around €300 for photography and marketing when we sold a family home recently. Wasn’t payable upfront and was paid along with comisssion etc on completion of sale.

Commission was 1%

iamwhoiam

We were told €400 very recently if we took the house off the market

There was no upfront fee in 2016 when I was helping conduct a house sale (Gunne) for somebody who was ill. The house sold very quickly indeed. Neither was there an upfront fee when I auctioned (DNG) my own house in 2005. The houses were in highly sought locations, so maybe the upfront fee applies where there is less surety about a sale going through.