A day in the life of a Limerick estate agent!

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The other day someone asked me what it’s like to be an estate agent. I’m doing this since 2001 in Limerick and I don’t think anyone ever actually asked me what the job is like. After I told them what I had done on that particular day they said, “really, you do all that, at least you never get bored, I sit at a desk all day looking at a computer screen”. So, I thought why not write something for the websites blog!

Ill take last Thursday(14.7.16)) for example, my day starts at 8:30am, So here it goes:

8:30am: Paperwork gets underway, this is a big part of estate agency these days as the new regulator who came in 3 or 4 years ago have made things a lot tighter. Other paperwork that morning involved me completing two, what I call “tenancy packs”, for landlords. This is compiling all the details that are involved in the letting of a residential property. This includes the tenancy agreement, inventory, condition photos, tenants ID, work reference, previous agency references (not all tenants come with a reference from another estate agent or auctioneer but both these tenants did), changing over the bills with the utility readings we recorded for the tenancy. The RTB registration form was filled out for the landlord to submit and a relevant cover letter drawn up.

9:05am: An offer on a property we have for sale in Limerick came in. The offer details are recorded on the PSRA offer form and then a quick call was made to the seller to let them know what the figure was. It was a little below the asking price on the house so the buyer would have to do a bit better.

9:15am: A commercial valuation needed to be worked on, this is a building in Limerick city centre and I had to look for a couple of comparables. This is quite a unique property so gathering comparables for this valuation wasn’t the easiest.

10:30am: We do BER’s or Building Energy Ratings also and I needed to get started on one of these. This was a house which was going up for rent in Limerick and every property these days that is rented or for sale requires a BER.

11:10am: Before I left the office I logged onto Daft.ie and I renewed our property adverts for the day.

11:30am: I met viewers near Punchs Cross in Limerick to show an apartment for sale. The viewers arrived on time and we got started. They brought another estate agent with them which they knew. This happens sometimes if a person knows another auctioneer or estate agent, I have gone to viewings with friends on occasion as they value a person’s opinion who works in the property industry.

12:00pm: I’m think of taking an office in Limerick city centre and I arranged to meet an office fit out company to measure up and quote for the job.

12:45pm: My next appointment was to meet a new tenant who was accepted for the rental of an apartment at The Strand apartment complex. They paid the holding deposit for the property and took one more look at it as well. They were delighted to secure such a great property as in order to rent in Limerick these days it’s very difficult due to the shortage in the housing market.

1:30pm: Another viewing, this time it was on the Ennis Road, a rental property. The person was a little late so gave me time to catch up on a couple of calls and make my to do list a bit shorter! The person arrived, however it turned out they had a dog so renting this flat was not suitable. They thought it would be suitable but I’m afraid I wasn’t allowing it.

2:30pm: Had a meeting with a property developer to discuss the possibility of building a block of apartments for a UK client of mine who hopes to bring quite a large number of employees to Limerick. As I mentioned the housing supply is so short at the moment this is what people are actually starting to consider.

3:30pm A meeting with the utility supplier “Pinergy” is arranged at The George Hotel. I was reluctant to meet with the sales person initially but I have to say I was pleasantly surprised with their new set up. They seem to have re-invented themselves and their product is now quite well suited for the rental market in Limerick. I will be talking to many Limerick tenants and landlords in the future about getting on board with this.

4:30 – 5:30pm: Had an hour, again, I use it to catch up on emails and making and returning calls. Got a late lunch too.

6:00pm: I met with what I hope will be a new client. They asked me to call to their home in Rhebogue, Limerick. They are moving abroad in the next couple of months and they need a property manager to run their property while they are away. I arrive on time and the whole meeting took 55 minutes. I think it went well and hope to hear back from them.

7:00 – 7:30pm: Back over to The Strand apartment complex where I had two more viewings on a second apartment there. I was going to be a bit late so I phone ahead and both viewers were ok with this.

8:15pm: A tenant and a landlord at a property in Dooradoyle have a bit of a disagreement so I was asked to meet with both of them to see if some type of middle ground can be found. This lasts about 10 minutes. Finally it was time for home and it was just 9pm when I eventually do get there.

My day doesn’t end at 9pm every day, normally its about 7pm on average!

Brexit: Recruiters and estate agents seeing spike in relocation queries to Ireland

Estate agents

Mary Dillon of Sherry Fitzgerald told TheJournal.ie that they have seen huge interest in Irish houses they are marketing through the UK website rightmove.co.uk.

“The level in our interest in our properties marketed on rightmove remains exceptionally strong since the referendum.

“It’s up around the 20-30,000 mark each weekend. We monitor it on the daily basis.”

Sherry Fitzgerald had 8,556 ‘hits’ for their houses in the weekend before Brexit, but on the two post-Brexit, the hits went up to 20-25,000, despite the fall in sterling.

http://www.thejournal.ie/brexit-ireland-4-2867861-Jul2016/

 

For sale with Asset Property Services Estate Agents. Annagh, Lisnagry, Co. Limerick.

Walkthrough Video. Please call us on 061 279423 for a viewing.

 

Ronan Lyons, Daft’s in-house economist, commenting on the latest Daft research on the Irish property market.

This latest Daft.ie House Price Report shows some signs of health in the market, amid a broader problem of a chronic lack of supply. The first sign of slightly better health is that the total number of properties actively on the market at any one time has risen, compared to three months previously (June compared to March). This is only the second time in five years that this was the case – the first was the same quarter last year, so it remains to be seen whether this is merely seasonal or the start of a bigger trend.

The second measure of slightly improved conditions in the housing market comes from a comparison of the asking and sale prices. Each property registered as sold on the Property Price Register is, where possible, matched up with a listing in the Daft.ie archives. This allows the inclusion of variables such as property type and size and also enables the calculation of the Transaction Price Index in the report. The trends in this index confirm the more precisely estimated trends in list prices in the 54 markets around the country: largely stable prices in Dublin but still increasing steadily elsewhere, albeit not as fast.

http://www.daft.ie/report

Residential property prices are up almost 7% compared to a year ago

THERE HAS BEEN a 6.9% rise in the price of residential properties in the year to the end of May, according to new figures published by the CSO.

The data shows that the rate of increase is slowing down – prices were up 0.2% last month compared to a 0.3% rise in April and an increase of 0.5% recorded in May of last year.

In Dublin, property prices were 4.8% higher than a year ago and increased by 0.1% in May. Dublin house prices increased by 0.4% in the month and were 5.7% higher compared to a year earlier.

http://www.thejournal.ie/residential-property-prices-dublin-ireland-rise-2853120-Jun2016/

Expected Bank of England interest rate cut could provide Brexit boost

The UK economy could be given a post-Brexit vote boost this week as expectations mount that the Bank of England will cut interest rates to a new historic low.

Bank governor Mark Carney has already signaled policymakers on the Monetary Policy Committee would vote to cut rates over the summer, suggesting a cut in July or August.

Economists said it was “now probable” rates will be cut on Thursday, with financial markets pricing in a reduction from 0.5% to 0.25%.

http://www.rte.ie/news/business/2016/0711/801609-bank-of-england/

House prices up 15% in Limerick. (Limerick Leader newspaper)

HOUSE prices in Limerick city have risen by over 15% in the past year, climbing to an average of €153,892, according to the latest quarterly report from the property website Daft.ie.

In the county, prices have risen by just over six per cent in the past year to €152,531.

The quarter-on-quarter change in county Limerick is just under one per cent, and in the city it has risen by 2.8% in the past three months.

The price change since the trough in the city, when prices bottomed out, is 29.6% and in the county, they have risen by 15.9% since the crash.

Despite the increase, Limerick remains one of the most affordable places to buy in the country – cheaper than Kerry, where average prices are nearly €169,000; Galway where the average is nearly €237,000 and Cork (€185,000). Tipperary and Clare are cheaper at €149,000 and €151,000 respectively.

http://www.limerickleader.ie/news/home/210577/house-prices-up-15–in.html Read more

For Sale! Properties coming up.

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Asset Property Services! These Limerick Estate Agents have properties for sale coming up in:

The Orchards, Castletroy, Limerick.

Belmont, Castleconnell, Co. Limerick

Nantenan, Askeaton, Co. Limerick

Old Dublin Road, Lisnagry, Co. Limerick

… For more information phone us on 061 279423.