Selling your home without using Estate Agent?

SupaCat95

The agreement wasnt reached, that is my point. The seller wanted a quick sale, we wanted a quick purchase. The estate agent wanted a desired price based on his commision. It was only a few grand difference but he peeved off both us and they buyers. I was willing to walk away at one point. I was bidding against "a doctor in the hospital".

Buddy Bubs

I'd go with the estate agent. If he gets you 426k and you get 422k, you're even. I'd put my money on them getting 4k more than you, or 5k, or 6k. Or even 20k, 30k, who knows?

I'm currently involved in selling a company, I'm managing the project. The brokers doing it for us are charging 30k + 3.5% of sale price.

Hopefully we end up giving them over 400k.

The owner baulked at giving someone 400k and wanted me to do it, Im financially experienced but not in negotiations. The thing that swung him was me saying if they can get us absolute max 10 million, do you really think I can get 9.6 million on my own?

Not a hope could I, they have already opened doors to private equity and pension funds I couldn't get near, I was only thinking of bigger companies in our industry.

Extreme example, but a good estate agent has lots of very interested buyers on their books that you don't and can negotiate with experience, spot a chancer etc...

Dav010

https://www.boards.ie/discussion/comment/121826477#Comment_121826477

I think the seller was pulling your leg, I doubt any seller complains that the EA they employ to sell their property, is trying to get them too much money. Besides, the seller can instruct the EA at any time that they are accepting a bid, and agreeing to sell to a particular bidder.

herbalplants

https://www.boards.ie/discussion/comment/121826618#Comment_121826618

I think you are talking about a completely different type of sale here. I am sorry selling a company versus a normal house!

Also if I am an interested buyer, I would not put myself on any estate agent books! Absolutely no way. Why, sure all they want to know is your absolute max budget so they can sell you some overpriced rubbish.

Buddy Bubs

https://www.boards.ie/discussion/comment/121827834#Comment_121827834

They are both probably your biggest asset that has the vast vast majority of your wealth tied up.

You would be automatically on their books if you on their books if you bid on any property with them or registered interest.

Sell you some overpriced rubbish? The OP is a seller, by your last point that's exactly why they should use an estate agent.

herbalplants

https://www.boards.ie/discussion/comment/121844739#Comment_121844739

You must be an estate agent, at least you talk like one.

Buddy Bubs

https://www.boards.ie/discussion/comment/121845031#Comment_121845031

Nope, bought one house in my life and never sold one.

Just know the value of using professionals instead of DIY

Aph2016

Sold our house ourselves within one week, looking back at the PPR we sold for more than two neighbours on the same road, only difference was the interiors. Saved €5k nit using an estate agent.

If the house is well maintained, there's very little selling needed, just take good pictures, create a dedicated email, and arrange viewings by email. Ask for proof of funds.

SupaCat95

https://www.boards.ie/discussion/comment/121866779#Comment_121866779

Good questions to ask are :

How long are you looking? 2-3 months they are not sure of themselves 4 months plus and after a few failed bids they know the process

Have you got proof of funds? Any answer other than "YES" mean they dont know what "proof of funds" are and they havent got a solicitor.

Who is your Solicitor and Surveyor? Any answer other than Mr X and Mr Y means they are not familiar with sale process.

Those people are not ready to buy and sadly I was one of them once and had to learn the hard way.

ingo1984

https://www.boards.ie/discussion/comment/121845470#Comment_121845470

Lol using the word professional in reference to estate agents. Nothing more than Del Boy in a suit and office.

Dav010

https://www.boards.ie/discussion/comment/121869136#Comment_121869136

Thing about Del Boy, he could sell items for more than they were worth, that’s pretty much what all sellers want EAs to do. If an EA said to me, “I will sell your most valuable asset for a reasonable price rather than the highest price a buyer is willing to pay”, I’d tell him/her to take a hike.

Gregor Samsa

https://www.boards.ie/discussion/comment/121844739#Comment_121844739

We've expressed great interest and bid on a number of properties recently, and we're not automatically "on the books" of any estate agents that we delt with. They certainly don't call us when new property comes up, we have to find out about them like everyone else via Daft, MyHome, etc. Then if we have any interest, we have to do the legwork and contact them. So I'm not convinced that these mythical estate agent "books" exist - certainly not in the current climate.

In your example of selling the business, the brokers were able to introduce you to markets that you had absolutely no access to. It's a bit different with selling a house. Anyone can put it up on Daft, and most prospective buyers will be checking Daft.

Depending on the property, like if you were selling a very expensive property or a holiday home, Estate Agents might be able to get you access to international markets that you may not be able to access yourself. Or they may be able to get you into the property section of the Irish Times or similar, which could cast your net wider than you could yourself. But for the average home, that stuff isn't applicable.

I think for most people an EA's main value proposition is taking the hassle out of dealing with queries, dealing with viewings and screening potential buyers. It's up to people to decide themselves if that's something worth paying for.