Auctioneer & Estate Agent Fees Ireland
Estate Agent fees can be complicated, so let us break them down for you! If you are looking to sell your property you will most likely engage the services of an Estate Agent to sell and help steer you through the process as smoothly as possible. Estate Agents fees are calculated by charging a percentage commission on the eventual sales price of the property or by way of a fixed flat fee. Auctioneer & Estate Agent fees vary around the country and can be determined by various factors!
How much are Estate Agent fees?
Estate Agent fees in Ireland are typically based on a percentage of the property’s selling price. You can expect to pay between 1 – 2.5% exc. VAT, depending on the Estate Agent, type of property, location, and ultimately your ability to negotiate the best deal. Moovingo Estate Agent charges a fixed fee ranging from €1,750 exc. VAT to €3,750 exc. VAT – you can view a full detailed pricing list on our sales fees page! (a rarity in the industry). There are no fees to an Estate Agent for the buyer unless they have hired a buyers agent.
Estate Agent Fee Calculator
You can calculate Estate Agent fees on the homepage of our website by setting the sale price and estate agent % commission fee.
Can you negotiate Estate Agent fees?
The short answer is yes!
Estate Agent fees often constitute the largest cost of selling your property, so it’s essential to get the best deal possible. Agents won’t want to lose your business and may be open to negotiation using various strategies, such as showcasing their recent successes, offering free marketing, providing a no-sale-no-fee arrangement, or proposing a performance-based percentage fee.
Before negotiating an Agent’s fee, consider any additional costs they might charge and gather essential details. For example, inquire about how soon they can list your property, their availability throughout the sales campaign, who will conduct viewings, and the contract duration. Collect as much information as possible to strengthen your negotiation position.
Finding the right balance between cost and the level of service provided is crucial for a smooth and successful property sale or rental experience!
Flat Fixed Fee Estate Agent
A straightforward fixed fee structure for selling a property has grown in popularity around the world with companies like Purplebricks.co.uk (UK), Homie.com (US) and Housell.com (Spain) becoming the largest and leading Estate Agents in their countries. These companies were all set up with the goal of providing the same high level of service one would expect when selling a home for a lower fixed fee. To do this they have no high street presence and work from a central location while their Agents serve their local area equipped with the latest technology and a support team.
At Moovingo we charge a fixed fee rather than a percentage fee. Our prices range from €1,750 exc. VAT to €3,750 exc. VAT – you can view a full detailed pricing list on our sales fees page!
Will Moovingo Get The Best Price For My Property?
At Moovingo we strive to achieve the best possible outcome as we know the referrals gained from a happy customer are the best growth strategy any business can have. Our marketing is tailored for each individual property. From high-quality photography and digital campaigns on all the right channels including Daft and MyHome, to our highly visible ‘For Sale’ boards, our team has the marketing and sales expertise to maximise the exposure of your property. Presenting your property in its best light, efficient communication with buyers and the ability to negotiate a strong price with the right buyer is at the core of Moovingo. Even through the many lockdowns Covid brought us, we achieved record sales.
How Can You Charge So Little? What’s The Catch?
No catch! Most Estate Agents spend the majority of their time seeking new sellers. At Moovingo, we generate new business through our in-house marketing team so our Agents don’t have to spend their valuable time looking for new clients – this eliminates their individual marketing costs and frees up their time to focus on you and your property. We leverage the best of the best technology including a Salesforce CRM, Intercom, G-Suite, Apple for all hardware and our own technology to help our business run smoothly. Our cutting-edge technology allows our team to focus on what they love to do – sell properties, while a centralised team looks after marketing and administration – this cuts out the need to pay for multiple traditional branch offices. All these differences allow us to pass on impressive cost savings to our sellers.
Hidden Costs to be Mindful of When Buying a House
- Stamp Duty – Stamp Duty applies to everyone buying a house, whether you’re a first time buyer or second time buyer. Stamp Duty is calculated on the cost of your home:
If the value of your home is up to €1 million, you will pay 1% of the of the value.
If the value of your home is in excess of €1 million, you will pay 2% of the value.
- Solicitor’s fees – Some solicitors will charge a flat fee while others will charge a percentage of the property price (usually around 1% or 2%) – remember, all solicitors fees are eligible for VAT at 23%
- Land Registry fees – Solicitors will also have to register your property under your name in the Land Registry. This can cost anywhere from €400 to €800 depending on the price of your home. If your home is yet to be registered to the Land Registry, your solicitor will file a ‘first application’. This may result in a €130 reduction.
- Valuer’s report – Your lender will request a valuer’s report to ensure you are paying a fair price for your home. This will cost around €150. (most banks have their own list of valuers to use)
- Surveyor’s report – Surveyors will inspect the property for hidden defects and structural issues. These reports may or may not be required by your lender, but it is always a good idea to have a survey of the property. Surveyor’s reports can cost around €300 plus VAT (23%)
- Insurance fees – Most lenders will require you take out mortgage protection. The amount you’ll pay depends on your age, health and mortgage size. It can typically cost around €20-€30 per month. Similarly, you may need to take out home insurance for your house and its contents. This can cost around €300 per year
- Property Tax – Property Tax is a self-assessed tax paid annually to Revenue. It is based on the current market value of your home.
- Management fees – When buying an apartment, you will have to pay management fees every month. If buying an apartment early in the year, you may have to pay the remaining years management fees in one lump sum before you can move in. You may also be required to pay management fees when buying a property in some private estates and gated communities.
The Bottom Line
Estate Agent fees may be one of the least understood aspects of selling a home. If you decide to instruct the services of an Estate Agent, be sure you review both fixed fee and commission-based Agents, ensure they are licensed with the PSRA, read the Letter Of Engagement and T&Cs carefully to understand the terms regarding payment and contract length. Seek out what other people are saying about them online through reviews and social media. Instruct the one you feel most comfortable with.
Why not start by booking a free property valuation with us now? Call 01 516 9999 or book in through the homepage on www.Moovingo.com.