That doesn't sound too bad, just a teensy weensy half-percent increase. In estate agents' parlance, it would be termed a charming little "bijou" increase.

But that little half percent is actually worth two grand in real money when you are selling a house worth 400,000.

Or four grand for an 800,000 property . . . before VAT.

It has also drawn attention to how much estate agents charge in the first place. Their total bill, at 1.5% of the above properties, would come to 7,260 and 14,520 (including VAT).

That's an extraordinary sum to pay someone for giving a bit of palaver and telling you something you probably know already . . . the value of your home. And it begs the question: do we really need 'em?

At these prices, the answer is, not really. And the argument for using an estate agent is becomes less pressing as the market heads south.

When prices were shooting up in a busy market, using an estate agent or auctioneer would probably have been recommended. They earned their crust showing multiple potential buyers around and using their skills to extract as much as possible from them.

They were largely responsible for very successfully ramping up prices. But what about now, when there are hardly any buyers?

Nothing shifts prices downwards faster than a whiff of desperation in the seller. And even if you have all the time in the world to make a deal, estate agents do not. As the formerly hectic property market grinds to a halt, so has their fee income . . . hence Sherry's ill-advised price increase (which positively reeks of desperation). Yet they still have outstanding payments on that big Lexus or Beamer they bought during the boom.

Estate agents lately have been talking down prices to sellers, while talking them up in the media.

As prices fall, buyers need reassurance that they are not paying over the odds for something that's going to drop in price. Why not cut out the middle man . . . the estate agent . . . and use his substantial wedge to give a better deal both to yourself and the buyer?

Selling your own house is not a daunting prospect. In fact, you could even set yourself up as an estate agent for the fees they charge, though now probably is not the best time to go into the auctioneering business! But you don't have to go this far.

First you need a sign, which can be bought from several DIY property sales websites that have sprung up lately. One of these, www. sellityourself. ie, charges 150 for a package including a sign and an ad on its site.

Next you need to advertise . . . something you have to pay for anyway even if you go through an estate agent. [Sellityourself.ie offers press advertising service free of charge, buyer simply pays cost price of newspaper advertisement].

EXTRACT FROM BILL TYSON'S MONEY TALKS, SUNDAY TRIBUNE, JUNE 2006