Just looking for advice on how do you go about the process?
Is it matter of finding the agent? What fees do you expect they charge? Any gotchas?
What about self-selling? I can see there are sites that cost around $500 one off to sell.
First Time Selling Property - Advice
bin555 on 23/10/2022 - 09:29
Last edited 23/10/2022 - 12:06 by 1 other user
Last edited 23/10/2022 - 12:06 by 1 other user
Comments
Find an agent and find a conveyancing solicitor. Unless you know what you are doing, which by the sound of it you dont.
How have millions of Australians sold houses but never thought to see advice from ozbargain?
"Coz my property is not a bargain".
16 years ago my brother wanted to sell his house in inner melb.
It was 1870s workers cottage. there are rows of identical ones in his suburb.
One went for auction in the next street.
My brother attended the auction and observed who was bidding.
When the auction finished he approached the second highest bidder. (a young couple -similar age to my brother and his wife)
He introduced himself and said he had an identical house in the next street that he was wanting to sell and invited them to visit with then.So the bidders went with my brother to his place and had a through inspection, a few beers, etc. and they agreed to buy my brothers place then and there. (condition report - my brother had recently done extensive renovations and had photos, records, plans, receipts for trade professionals -i.e. sparky rewiring, etc)
Those second highest bidders obviously wanted to buy a house (because they had just bid) and obviously had finances ready to go. my brother knew their budget and what they were happy to bid (from their bid) ; which was cheaper than what the winning bid had been for an identical place.
My brother saved on real estate agent fees. he sold his house quickly, he knew (from attending the auction) what the sale price would be agreed to by the buyers and was satisfied. He had a conveyancer help with the contract /sale and it was done
it was a real win-win
Great story. Probably worth 200% more now than when he sold it.
Smart
Good story! A little similar, I owned a unit in a row of identical ones. Found out that the same person owned the units to the left and right and got in contact with them, got a good price as they were keen to be in control of that whole row
Use google to find out how to do it.
At the very least you will need a conveyancer/solicitor to prepare all the documents.
Real estate agent takes care of the advetising and getting traffic through the door.
If you think you can manage what the agent does, then go for it. I have both sold and bought houses without an agent.
If it doesnt sell after a period of time, then at that point perhaps get an realtor
Thanks. Yeah can manage inspection stuff without agent. I rent it myself. So gone through inspection process before.
Just curious which site did you use to advertise?
Also what approach did you use to work out the price?
Think about an off market sale the agent will have a database of prospective clients he can ring. You can offer the property at the price you want instead of this price guide nonsense. You will save on the cost of advertising, styling, auctioneer fees etc & avoid open inspections.
Won't everyone say they have a huge database of buyers incl from overseas?
I tend to agree with you.
I sold myself. Was easy enough as I had time. A little annoying dealing with idiots and time wasters though. Well worth it the $10k or whatever commission savings for me.
Which platform did you use to advertise?
I think it was https://www.salebyhomeowner.com.au/. Just go with whomever is cheaper. I was only after the realestate.com.au and domain.com.au listing. I didn't need a sign or anything else. I'll definitely sell again by myself.
Check a few local agents and ask what their fees are.
Yes, you can DIY to save money, but you may not get the best price and it’s a fit bit of work.
Might become problematic on open house or auction days. Could be a unique selling point though …