Look for something like “Sell Property Privately In Ireland: Gain the Insider Knowledge of a Real Estate Professional and Save Thousands by Selling Your Home on Your Own,” and you’ll discover plenty of resources to help you sell your home privately in Ireland. The Complete Idiot’s Guide to Success as an Estate Agent: The Sell Your Own Home Kit is available for individuals who would prefer do it alone.
In certain areas, selling a home yourself is the norm, and so is publicising the advice of so-called “property gurus” on the topic.
For those Irish homeowners who would rather not pay the standard 2% fee plus VAT to an estate agent, there are now internet options. Due to the exponential rise in property values over the past several years, commission rates for real estate brokers have surged to the point that homeowners with a “who needs them” mentality may make thousands with no effort.
Startups like Daft.ie and Myhome.ie and Sellmyhomeireland.com provide an alternative to the conventional real estate agency model.In other words, sellers may get guidance, website promotion, and assistance from Mysale.ie for a fixed price of €120 to €399. Irish people living abroad who are interested in moving back to Ireland are another target audience for sellmyhomeireland.com.
The sites attempt to “deconstruct and hopefully demystify the process of selling” in addition to lowering the cost of moving. The estate agent will earn €5,445 (1.5% of €300,000, plus VAT at the regular rate of 21.0%, for a total of €5,445) if the house is sold. One of these companies offers a basic package for €120 that includes a For Sale sign and internet advertising until the house is sold, saving the homeowner €5,325.
You can hire a professional photographer to come take pictures of the home and give you advice on how to make it more appealing to purchasers for around €350 on some of these sites. Some provide a place where individuals may sell their goods and get a sellers’ guide at no cost to them. The cost of a For Sale sign and online photo hosting begins at €149. A professional photographer’s services, copywriting support, and the ability to upload extra photographs may all be yours for just €399.
DIYers argue that there is minimal need for specialised knowledge because both the seller’s and buyer’s solicitors will handle all legal problems.
One of the site’s proprietors informed us that presently 4-5% of all property purchases happens privately “without any real help,” which he considers “quite exciting.” The reason he doesn’t want to “attack” real estate brokers is because they “do a job.” “However, in many cases they serve as keyholder, allowing people in and out, and homeowners are beginning to realise this.”
The growth of internet real estate listings has been good news for private sellers as it has allowed them to reach a wider audience of potential buyers at a cheaper asking price. Private sellers have a few options for marketing their houses online, including posting images to specialist sites and advertising on popular property websites.
Advertise your home on daft.ie for a one-time charge, and it will remain live until sold.
Many people selling property worry that auctioneers would use various forms of pressure on naive or desperate buyers to get them to bid more than the property is worth.
Bolger claims that the same bidding procedure as with an estate agent may be begun with only two interested persons. But you have to be a patient, self-confident person, he warns, since it takes work. Open houses and private showings should be scheduled for weekends and evenings, when potential buyers are more likely to be at home.
Some home sellers hire an agent to do their searching for them, while others do it on their own. If they choose to go with a buyer that learns about them through their own marketing, they may avoid the fee, but the technique comes with some risk. Bolger recommends being up-front with your real estate agent and not trying to pull any fast ones.
Nonetheless, stipulations for exclusive sales region are increasingly being included in agency agreements. They understand the potential reach and convenience of internet real estate advertising, he says.
A For Sale sign that includes a link to your property ID on a website may be sufficient in many parts of the country.
Currently, it is a seller’s market due to the high demand for quality homes. If the lethargic market suddenly had a lack of buyers, would going it alone without the marketing strength of a huge auctioneering firm be as tempting?
That’s Bolger’s view, at least. Paraphrasing: “If the economy is in the doldrums, that gives individuals even more motivation to rescue the commission.” He emphasises that only a tiny fraction of purchasers and sellers really perform the conveyancing themselves.
You should get educated in that area first. You should always seek the advice of an attorney. If you’re a professional in the field, sure. But the average Joe?
However, in recent years, flat rates of €999 plus VAT or less have replaced more expensive commission-based charges in the conveyancing industry. As a result of this, consumer advocates have been pushing for lower costs charged by auctioneers.
However, financial gain is not the only motivation. The tone has become friendlier and more personal.
Patricia Tully of Spiddal, County Galway, Ireland, used one of these websites to sell her home privately.
For example: “I had the impression that I would be the one to handle the selling of my house. In a nutshell, I thought it was a very intriguing and ingenious idea. I would always know the current status of the bids as they would be addressed to me.She means what she says.
She explains that she is reluctant to sell the house because of her attachment to it but that her job requires her to relocate to the other side of Galway. She has such strong feelings for the house that she would rather sell it personally.
As the old adage goes, “an ounce of prevention is worth a pound of cure,” and “I believe I will be able to assess better whether or not I have obtained the proper bid with more face-to-face contact.” Previously, Tully has enlisted the help of an auctioneer while selling a house. Those last nine months were hell, and I never want to go through it again.
She received a call from a site representative who came to her house to offer staging tips and point out problem areas that needed touch-up paint.
After the boards went up advertising the home’s private sale, additional interested parties stopped by to learn more about it. As she puts it, “I’m heartened by the quick response because I wasn’t expecting one.
Still, it’s early, and no official offers have been submitted as of yet. Tully is currently putting the finishing touches on her house. She has been able to get a rough idea of what to ask for by looking at comparable sales in the neighbourhood, but she now plans to have a professional appraisal.
By advertising in the Galway Independent and the Galway Advertiser, two neighbourhood newspapers with door-to-door distribution, I’m hoping to attract some attention.
Tully defends auctioneers by revealing that she is using one to help her search for a new residence.
After providing general answers to the auctioneer’s inquiries about my chosen location, price range, and kind of residence, I was still given an overwhelming number of options. Too many of the photographs I’ve seen are either of homes that are too expensive for me or of homes that aren’t located in the area I’m considering. Because you can’t afford to miss anything, you must filter through the mountain of information they provide.
The ineffective pairing of customers with sellers leads her to this conclusion. You explain, “a lot of it is left to chance and pot luck,” referring to the money they keep for evacuating your home. If you’re looking to purchase or sell a home in Ireland, now is the time to get in touch.