It was very common for Estate Agents and Auctioneers in Ireland to charge between 1% and 2.5% commission on the sale of a house.
There are now a lot more estate agents offering fixed prices for house sales.
We have seen a few estate agents online offering fixed rates for house sales varying from €999 plus VAT (€1299) ,€1299 plus VAT (€1598) and another at €2500 inc VAT .
An example – : An estate agent charging 1.5% on a Dublin semi valued at €450,000- would charge €6750 plus VAT which brings it to almost €8300.
If another agent is offering to sell the same house for a fixed price of €1600 inc VAT – that would be a saving of €6700.
The vast majority of houses for sale are found on Daft.ie or Myhome.ie – so as long as your house is on those it will be found by potential buyers.
The rate of commission charged by estate agents can sometimes vary depending on the value of the house. The agent’s commission on a house below say €500,000 may be 1.5 per cent – while a property worth a Million euro may be charged at 1.25 per cent or 1% . You should try to negotiate the fee downwards . Most auctioneers and estate agents have a minimum fee for low priced properties – but I doubt if many set a maximum charge?
By using a percentage commission it means that the bigger price the agent gets for your house – the bigger their fee. On a €250k house a difference of €5k on the selling price means quite a lot to the seller – but to the estate agent it would mean just an extra €75 euro commission . It might be more cost effective to the agent to persuade the seller to sell it quickly at the lower price.
Many estate agents and auctioneers in Ireland also add on extra charges to the sale commission. Many of these charges are payable even if the house does not sell.
Extra charges can include : photographs, brochure , website listing , sale board, newspaper advertising. These extras can soon mount up to as much as another €1,000. Some auctioneers and estate agents will ask for money up front to cover advertising costs .
In the UK it is still common for estate agents to have “No Sale No Fee” arrangements – and they will still put your house on the web and in the newspapers.
Here in Ireland the “no sale no fee” arrangement is offered by a minority of estate agents.
There will also be legal fees when selling a house. Solicitor’s conveyancing fees for dealing with the sale of a house can range from €1000 to €2000 – depending on what part of the country you are in and how much competition there is in the area. (VAT has to be added to these fees). The days of charging a percentage fee are hopefully numbered – and there are now a growing number of firms offering fixed price conveyancing. The best fixed rates conveayancing price we have seen in 2019 range from €750 plus VAT to €1400 plus VAT (€1722)
Some solicitors say they offer “fixed price” conveyancing – but they don’t show prices on their website. They probably just mean that the price is fixed once they quote.
There will also be other “outlays” such as legal searches, land registry fees, charges and other costs. This can easily come to come to another €200 to €500. So expect to end up paying between €1000 to €2500 plus VAT .
More here on Solicitors Fees When Buying a House in Ireland
Before your house can even be put on the market, you will also need a Building Energy Rating certificate (BER) which will cost between €150 – €300 .
Tip: If you are selling property in Ireland and moving abroad – you should take a look at our page on getting the Best Exchange Rates – it could save you hundreds of Euros if you are transferring the proceeds of the sale outside the Eurozone.