My Home Ireland

Posted by myhome on October 3rd, 2007 in Auctioneers, Estate Agents, Selling Your House

Many hosue sellers  choose to sell with the assistance of an estate agent / auctioneer  because it can be  more convenient, and can sometimes be  more effective, than selling privately.
Good agents have a wide net of prospective buyers, and know how to promote your home  You should choose  an agent with the following factors in mind:

Cost:
Most estate agents charge between 1-3% commission on the successful sale of your home, but check for hidden extras.

Valuation and price
Make sure you and the agent agree on the value of the house, because he or she will be negotiating on your behalf.
Market reach:
This is a critical factor in the selection process. You want an agency which can attract the largest number of potential buyers  for your home. Ask to see how they present properties, where they advertise, and their process for following through leads. Check if they have a website - look at it and ask if your house will be put on it. Some charge extra for posting on the internet - a pretty poor practice. Use google to see if their website appears in search results for “estate agents in ” your town or “auctioneers” in your area. Ask if they use Daft.ie or Myhome.ie. The more exposure - the better.

Reputation:
Talk to friends and neighbours who have recently bought or sold in the area, and find out the “inside story” of local estate agents.

Service:
You want to work with people you like and trust, and have your best interests at heart. Remember, an agent is working for you, so you should interview him or her in the same way you would interview a prospective employee. Be clear on how you expect to communicate with the agent, and kind of service you are looking for. If you are not happy with them - go elsewhere.

Regulation and Training
Legally, estate agents are not required to have formal qualifications. They don’t need to be part of any recognized professional body.  However, reputable agents  do have experience and qualifications, are members of relevant professional bodies . Qualified agents can choose to join a professional organisation such as the Irish Auctioneers and Valuers Institute (IAVI) or the Institute of Professional Auctioneers and Valuers (IPAV) but this is purely voluntary. Both these organisations have the benefit of voluntary compensation schemes that pay out compensation if an agent absconds with client funds. About half of Ireland’s 5000-odd holders of auctioneer’s licences are members of either the IAVI or the IPAV, although many licence holders don’t practice as estate agents.