Hi everyone,
Just wondering if anyone has sold their house privately, seeking for insights and directions.
Cheers
Just Wondering if Anyone Sold Their House Privately? Is It Worth The Efffort?
Yaren24 on 04/01/2022 - 21:03
Last edited 04/01/2022 - 21:20 by 1 other user
Last edited 04/01/2022 - 21:20 by 1 other user
Comments
You're still working with conveyancers/solicitors etc but just cutting out the real estate agent and their fees. No difference in paperwork required.
You can get professional photos taken + 5x6 board + brochures etc print for aroun $ 2 - 3k.
How much you gonna save?
Real estate agents always good at perspnalised marketing and up selling. Some would say, stick to your day job and let pro handle it.I know quite a few people who've sold their houses without real estate agents.
Strangely they've all managed to sell very well at really good prices and rather quickly. 2 of them did say that people tend to offer more decent money if they are facing the owners themselves instead of hiding behind an agent and lowballing. One of them saved over 50k in commission and got better money than rea appraisal in the flat 2018 market. CheersThanks mate
In Victoria - expect to pay around $20k for property worth 1 mil. Can I ask which state/suburb are you from ?
SEQ
Have you approached any REA yet? How much have they quoted ?
$25k
@Yaren24: Don't know what your property is worth but my agent charged me 14k fees plus 3.5k advertising for 1mil property. He is the top agent in my suburb who has the highest number of sold properties. VICTORIA.
I sold my house privately in SA about 10 years ago. I decided to do it after a local agent I engaged for 6 months failed to attract a single offer. I paid him around $8,000 in advertising costs which was money down the drain. I subsequently went through one of those online DIY real estate agencies (I can't recall the name) which cost me around $2,000. For my investment I got a full colour exterior sign, flyers to hand out at open inspections, a listing on their website and MOST IMPORTANTLY listings on Domain and RealEstate.com.au which weren't available if I had gone it alone.
The very first person who attended my first open inspection made an offer which I accepted. The settlement process was handled by our respective conveyancers. The sold price was at the lower end of the range but it was a cash settlement with no conditions and I didn't need to pay a commission to anyone.My brother sold his first house privately. He went to an auction for an identical house and after that finished he approached the second highest bidder and said " I'm selling my house 2 streets over, you wanna come over for beers and check it out.?" My brother knew what the buyer was willing to pay so no guess work or haggling. Deal done.
Your brother is in the wrong profession. He should really be a REA for such a smooth talker. Lol. Good stuff
Geurilla marketing.
In todays market you don't need a REA. Get it onto www.RE through DIY agency. No need for signboards. Check/record ID's before inspections. Use a conveyancer. Have a contract and duplicate pre-filled. Take 10% deposits with no refunds clause. When doing walk throughs, have a friend constantly phone you "wanting to buy". I've walked the talk.
Thanks mate, I have received a lot of responses, this is probably about 5 days ago, I have received messages everyday, some from interstates, i just have not got any serious buyers yet, so should i put the house on the REA websites using 3rd parties to advertise?
It will take time to find a serious buyer, so long as your price/expectations are right. You'll know when the right buyer turns up - you can tell by there actions. enthusiasm etc. Weeding out the tyre-kickers is the hard part. I even had distant "neighbours" I didn't even know poking around inside my house with no intention of buying. Once you work out they are time wasters - be just as rude and usher them out the door quick smart. One question you can ask up front is "are they pre-approved for finance ?".
Not sure where you're advertising, but yes, www.RE via a DIY site is the best place to advertise for a wide audience.
PS. I sold above the local REA appraisal.
Depends on, if the effffffort is worth it for your circumstances. Plenty of people in past comments indicate they have sold privately.