A lot has changed in the world of property over the past two decades. Alongside the rise of prices and demand for housing, there has been a rise of digital technology, with many websites like Daft.ie and MyHome.ie redefining the property landscape.
“Before those sites really got going, an estate agent’s role required much more work than what is involved today,” says Jack Brady, who has worked in the industry since 2011. “Agents had to spend large amounts of money to promote their business and find buyers for properties. They were relying on newspaper listings, and maintaining an expensive shop front in prime locations, to bring buyers in. The job is a lot easier today, but the fee structure – which typically costs 1.5 per cent of the total sales price as commission (plus marketing and vat) – never changed. A lot of people don’t add up the estate agent fees until they get that final bill, and the standard fee on a property that sells for €500,000 can amount to nearly €10,000.”
