Estate Agents, your questions answered
Updated: May 26
As one of Ireland's most established and respected real estate agents, we often get questions about the industry.
Everyone inevitably has enquires, be it a business customer looking to let out a commercial property or a young couple looking to purchase their first home. This is understandable, of course; after all, buying or renting a property is a huge decision, and it's natural to want as much information as possible. Therefore, for the peace of mind of our clients, we've compiled some of the most common real estate agent questions below.
What do real estate agents do?
Real estate agents assist clients in buying, selling, and renting properties. They may provide services such as market analysis, property valuations, advertising, negotiating deals, and handling paperwork. They aim to help their clients make informed decisions and complete real estate transactions.
What questions should I ask an estate agent when selling?
When selling property in Ireland, you may consider asking the following questions to your estate agent:
What is your experience and track record in selling similar properties in the area?
How do you plan to market my property to potential buyers?
What is your fee structure, and how is it calculated?
How will you keep me updated on the status of the sale?
Can you provide me with references from past clients you have worked with?
How do you handle negotiations, and what is your approach to pricing?
What are the estimated closing costs for selling the property, and who will cover them?
How do you address potential conflicts or issues that may arise during the selling process?
How do real estate agents get paid?
In Ireland, real estate agents usually get paid through a commission, a percentage of the property's sale price. This commission is typically split between the listing agent (representing the seller) and the buying agent. The exact commission amount is usually negotiated between the agent and the client.
Sometimes, the commission may be a flat fee, or the agent may charge an hourly rate for their services. Additionally, real estate agents in Ireland may receive bonuses or incentives based on the volume or success of their sales.
Understanding the terms of payment and any fees associated with working with a real estate agent is essential before entering into a contract. Before we begin the process, we can sit down with you and discuss our fee structure in plain English, so you know exactly what you are paying for.
In Ireland, how much do estate agents charge for renting your property?
The amount that estate agents in Ireland charge for renting a property can vary and depends on several factors, such as the location of the property, the services provided, and the level of competition in the market.
Typically, estate agents in Ireland charge a percentage of the first year's rent as their fee for finding a tenant and managing the rental process. This percentage can range from 5-15% of the first year's rent, but the exact amount is negotiable and can vary between agents.
In some cases, estate agents may charge a flat fee for their services, or they may offer different pricing packages that include various levels of support.
Please schedule a consultation with us today to discuss the fees we charge concerning rentals.
Do you still have some estate agent questions? No problem at all; please get in touch with our team today, and one of our expert agents will be available to answer all your questions.