Selling without using an auctioneer

Logo

I'm planning to sell my house directly without using an estate agent. House value approx €230K. Auctioneer fee could be approx €3K. Just wondering what value an estate agent can add besides advertising the property and being available for viewings. Has anyone else done this without an auctioneer lately. TIA

mrslancaster

Not lately but years ago - would never do it again.

Using an EA is worth every penny IMO, they organise the photos, brochure, ads and then manage all the enquiries, phone calls, emails, bids, viewings, etc. They hold the deposit, get all the buyers information and all you need to do is agree the sale price and deal with your solicitor. Others may have different experiences and it is a lot of money but IMO you need to have a lot of time on your hands and lots of patience to do it yourself. Plus, this is their business, they are probably experienced and may be better at negotiating a higher price for your property.

Good luck with the sale..

skooterblue2

I hate to wade in here because I asked a friend about this. Using an auctioneer guarantees deeds and ownership are in order because they are the last people to get paid, no foal no fee. Now I dont know how look up the ownership of deeds but the EA does. There is no point chasing a house where the deeds are not in order (will being contested etc), no house is worth that.

If you dont use an EA it suggest an inference, "what does the EA knows that he is not selling it?". I know someone who built a house (perfectly legitimate house) and the marriage fell through before the wedding. He decided not to use the local auctioneer. He had that house on the market for 18 months before he sold it just in time before the last recession. I pity the poor lad who bought it but it was a lovely house in the countryside.

Logo

mrslancaster wrote: »

Not lately but years ago - would never do it again.

Using an EA is worth every penny IMO, they organise the photos, brochure, ads and then manage all the enquiries, phone calls, emails, bids, viewings, etc. They hold the deposit, get all the buyers information and all you need to do is agree the sale price and deal with your solicitor. Others may have different experiences and it is a lot of money but IMO you need to have a lot of time on your hands and lots of patience to do it yourself. Plus, this is their business, they are probably experienced and may be bett er at negotiating a higher price for your property.
Good luck with the sale..

Surely taking photos, brochure (who needs it), ads, enquiries, phone calls, emails, bids, viewings can be done really easily by the seller. Sale price will always have to go through a solicitor anyway. Surely selling without an EA cuts back on costs

Logo

skooterblue2 wrote: »

I hate to wade in here because I asked a friend about this. Using an auctioneer guarantees deeds and ownership are in order because they are the last people to get paid, no foal no fee. Now I dont know how look up the ownership of deeds but the EA does. There is no point chasing a house where the deeds are not in order (will being contested etc), no house is worth that.

If you dont use an EA it suggest an inference, "what does the EA knows that he is not selling it?". I know someone who built a house (perfectly legitimate house) and the marriage fell through before the wedding. He decided not to use the local auctioneer. He had that house on the market for 18 months before he sold it just in time before the last recession. I pity the poor lad who bought it but it was a lovely house in the countryside.

I am assuming no deed or marriage issues - just a straightforward sale without tissues

skooterblue2

Logo wrote: »

I am assuming no deed or marriage issues - just a straightforward sale without tissues

Yeah it was a straight sale from an honest guy with no short cuts done in the building because it was intended for the seller to live in.

Logo

skooterblue2 wrote: »

Yeah it was a straight sale from an honest guy with no short cuts done in the building because it was intended for the seller to live in.

What did the EA do that an individual can't do to help the situation?

Fol20

skooterblue2 wrote: »

1)Using an auctioneer guarantees deeds and ownership are in order because they are the last people to get paid,
no foal no fee.
3)Now I dont know how look up the ownership of deeds but the EA does. There is no point chasing a house where the deeds are not in order (will being contested etc), no house is worth that.

Your completely wrong.
1) EA's dont guarantee deeds, the solicitors do this. EA's should know about any issues with deeds as they can then lower the price accordingly or provide suggestions for this.
2)Yes there is always a fee involved even if you dont sell. Normally they will charge a flat fee up front to account for marketing etc. The bulk of their money comes from the closing sale but the owner will still be charged a fee either way.
3)Houses can be sold when deeds are not in order. its usually to cash buyers in most cases so be careful with what you say.

Fol20

In terms of what an EA does is debatable.
-Some of the pictures that ll take a child could have done a better job.
-Some fail to provide any description of the local area and why it would be a nice place to live there.
-Many just let you in the door and let you look around yourself without offering any input.

If you get a good EA though, they can add value to a place.
-They can suggest different marketing techniques
-Offer different asking prices depending on what strategy you want to go with.
-Offer the buyer a third party person to liaise with when making offers - if you owned the property directly, i would second guess any increases in offers which could potentially hurt your final price.
-Its a lot of money for what they do however its part of the process.

Logo

Fol20 wrote: »

In terms of what an EA does is debatable.
-Some of the pictures that ll take a child could have done a better job.
-Some fail to provide any description of the local area and why it would be a nice place to live there.
-Many just let you in the door and let you look around yourself without offering any input.

If you get a good EA though, they can add value to a place.
-They can suggest different marketing techniques
-Offer different asking prices depending on what strategy you want to go with.
-Offer the buyer a third party person to liaise with when making offers - if you owned the property directly, i would second guess any increases in offers which could potentially hurt your final price.
-Its a lot of money for what they do however its part of the process.

Is that worth €3K

skooterblue2

Logo wrote: »

Is that worth €3K

Sometimes when you think you are up against a recession as per my former post, the faster you shift a property the better. I think we are on the eve of a recession. We are over due a recession, rents are 20% higher than people can afford. The UK is our major trading partner is facing an uncertain future. Trump is preparing for a trade war with China. The writing is on the wall, nothing last forever and no price is fixed.

Del2005

Logo wrote: »

Is that worth €3K

It is if they get you an extra €10k.

Have you ever sold anything before? Selling a car involves dealing with tyre kickers and dreamers asking you to swap a €10k car for a pair of shoes. Selling a house you'll have to deal with tyre kickers/dreamers and nosey people, the EA screens all these nutjobs out for you.

Fol20

Logo wrote: »

Is that worth €3K

Its all relative to what you are selling. I dont like paying for a an EA either but when done right, they can add value to it. When bidding can go up in 5k increments or even 10k sometimes, 3k on the grander scheme of things is small.

Darc19

Plenty of fixed fee agents about from 999+vat to €2500.

Most offer a no fee unless sold structure.

Google it and you'll see what each offer

Fol20

Darc19 wrote: »

Plenty of fixed fee agents about from 999+vat to €2500.

Most offer a no fee unless sold structure.

Google it and you'll see what each offer

Newer or less established EA's may offer better incentives such as these. I prefer going with someone who has more experience in the game however.

ted1

Logo wrote: »

I'm planning to sell my house directly without using an estate agent. House value approx €230K. Auctioneer fee could be approx €3K. Just wondering what value an estate agent can add besides advertising the property and being available for viewings. Has anyone else done this without an auctioneer lately. TIA

Would you sell your granny ? An estate agent would. Could you extract as more money than a potential buyer was willing to spend ?
I believe an EA could extract more than an extra 3000 than you could

Darc19

Fol20 wrote: »

Newer or less established EA's may offer better incentives such as these. I prefer going with someone who has more experience in the game however.

But look at what they offer and use it as a bargaining chip.

Imo a house sale should not be more than €2,00.-€2,500 and I simply cannot see how it can cost 7,500 to sell a 600k house in Dublin and 2,500 to sell a similar size house in Laois that would have a value of €220k

Fol20

Darc19 wrote: »

But look at what they offer and use it as a bargaining chip.

Imo a house sale should not be more than €2,00.-€2,500 and I simply cannot see how it can cost 7,500 to sell a 600k house in Dublin and 2,500 to sell a similar size house in Laois that would have a value of €220k

It’s just the way that industry works.sales roles have commission based on value of sales rather than set fee generally.

I can’t really argue with your comment as from my perspective, the workload would be similar. Maybe it might take a little longer to sell a more expensive unit in the same area?

4ensic15

Traditionally auctioneers commissions were higher in rural areas to offset the lower prices for similar properties. Some properties of their nature sell more easily than others. A modern house in a good estate won't throw up planning, title or structural issues. If the owner has a realistic price in mind it is relatively easy and agents are more likely to agree to a discounted fee.