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Finding an estate agent

 


Look at agents' boards around your immediate neighbourhood to see who is actively selling in the area and the average timeframe of a 'sale agreed' banner posted on the agent's board There is a huge number of agents to choose from . . . assess how professional your agent is and whether he/she is a member of the IAVI (Irish Auctioneers and Valuers Institute) or IPAV (Institute of Professional Auctioneers and Valuers). Ensure your agent is licenced . . . by law, the licence should be prominently displayed in the office.

1

Ask plenty of questions, eg does the firm have a huge database of potential buyers? Ask yourself if you feel confident the agent knows the market in your area really well. Have they sold there recently?

2

And at what price? And how long did the transaction take?

3

If possible, go along to viewings of other properties where your potential agent is selling and see how they go about the process. Do they follow up with a call to check your impression of the property, or suggest other similar properties that might suit?

4

Don't be swayed by unrealistic price expectations fuelled by an over-enthusiastic agent looking for business. This is a difficult rule to stick to as everyone likes to believe their property is worth more than the market value. The best agent is not necessarily the one promising to sell your home for way over the odds. Fixing the price is a real skill in the current market, and this is where a professional will be worth the fee Choose someone you feel you can get on with and someone who is working totally in your best interests and not the buyers.

5

One of the obvious ways to find the agent best for you is during the valuation of your property. It's perfectly normal to hire several agents to give a valuation and there is no fee involved . . . the agent is looking for your business at this stage. Don't be afraid to let each know you have invited other agents to value your home . . . but say exactly which other "rms are calling. This will keep the agents keen and allow you to assess who is best for the task. Ideally, have a partner, good friend or other practically minded person present also . . . two heads are often better than one.

6

Auctioneers' fees are currently set at 1-3 % of the sale price (plus VAT at 21%), depending on the price of the property and location. The fee must be agreed before any work is done on your behalf and the agent should con"rm the agreement in writing. Read the small print . . . will you be legally bound for a long period of time to the agent? This could make switching to another agency dif"cult if the service is poor or your property is taking an unreasonably lengthy period to sell. Insist on an agreement for a "xed time period.

7

Get your hands on the property brochure of a number of agents to check how informative, clear and attractive the presentation is. Local amenities should be listed and professional photographs that show your home off at its best make a favourable impression on the discerning buyer, not to mention the property supplements in national newspapers who may want to highlight the appeal of your home on their pages and further increase your chances of selling.

8

Opting for joint agents to sell could work against you in the long run. Neither agent may put enough effort into selling your property and you could end up paying two sets of fees . . . again get everything in writing initially if you decide to take this route.

9

If you want to sell without the services of a professional estate agent, the internet allows everyone access to a huge cache of potential buyers and it certainly is a valuable tool in the do-ityourself approach. There is no legal impediment and Irish people are now well-versed in the workings of the property market, so selling your home yourself is a realistic option. You will save money on fees, but ask yourself how you will feel about showing strangers around your home? Will you be able to accept negative comments?

10

Can you assess if they are genuine, or just nosey parkers? Have you the confidence to ask the big questions: have they got a house to sell? are they approved for a mortgage? And like the professional auctioneer, will you be able to negotiate the best price possible?




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