Browse Forums Real Estate 1 May 09, 2010 8:40 pm Hi guys We have a couple of agents coming to talk to us tomorrow with a view to selling our house. I imagine they will recommend (and I think I would prefer for our location/situation) to sell privately. I have sold via auction but never privately so I have a couple of questions. 1) Do you wait for the agent to reveal what they think we could get for it before we reveal what we would like for it?? (With auction, you don't tell the agent until auction day what your reserve is). 2) Do you not reveal at all what we want for it and just wait for offers to come in and decide whether to accept or negotiate for higher?? 3) Just say we want $700k - do you market it for $675 - $725 or over $700 - or how would you suggest?? Of course the agent will give their opinion/advice but I also want to suss a few things out for myself so that we don't come across too naive in the private sale market. Oh - and one other question, I'm sure they will try to 'sell' us a board for out the front, but we live in a court which has no passing traffic except for people who live in the street and visitors etc. But, we are at the top of the court, so if someone was driving past our street, if they looked down, it might/would/could (?) catch their eye. So do you think we should still go with it or leave it?? Thanks, Ceebs Re: A couple of questions re selling privately.... 2May 09, 2010 9:14 pm I think it may depend on the agent but in my experience you shouldn't need to tell them what you want for the property. They should tell you what they think they can get for it and if you agree then the expectation has been set. A decent agent shouldn't need to be bargaining their client down because they can't get an agreeable price - they should have the confidence to tell you a price range to expect and be able to achieve it. So I wouldn't tell them a minimum price - get them to tell you the price range. If a property is having trouble selling and they are trying to convince you to accept a lower price then the agent has failed to either market the property appropriately or has missread the market and priced it wrongly. Another thing is the way the agent prices the property is up to their best judgement - different tactics suit different properties so they may choose a range of 670-720 or a figure of say 670 plus. As far as the advertising goes you usually don't get a choice. With alot of agents its not priced separately and to be honest I think in most cases the advertising is for them not you. I've sold places that have been advertised in the local paper AFTER they are sold, which in reality is advertising for their company and not your house. Same goes for the board out the front - it depends on whether they think it will attract attention for THEIR interest. Call me cynical but flyers in mail boxes and boards in the street do not sell houses. Re: A couple of questions re selling privately.... 3May 10, 2010 9:01 pm Thanks for the tips Mozzie. We met with two agents today - hard to know who to go with as they both have their positives and negatives, and both contradict each other on some matters. The one thing is that they both indicate a price range covering what we would like to get (one indicating slightly higher so is tempting to go with them on that basis but it could just be a carrot ). But either way, it's comforting to know that we should at least (hopefully, fingers crossed) get what we want and with any luck, even a bit more. We only moved here a couple of months ago so to break even (including extra costs) is our main objective, but if we can make some $$, all the better. Such a different process selling privately as opposed to auction, so all new experience for us. Thanks again... Ceebs Re: A couple of questions re selling privately.... 4May 10, 2010 9:46 pm Don't be swayed by the agent who suggests the higher figure, just go with one who seems genuine, will work hard to sell your home and offers an honest and up front commission. One could say $100k and the other $1mil. But if I'm a buyer and I'm going to offer you $500k for the house, it really doesn't matter what the agent thinks, does it? Good luck with selling, I hope you get a nice quick sale and a good price Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: A couple of questions re selling privately.... 5May 11, 2010 5:19 pm Personally I hate price ranges or offers above. While I do a lot of research into an area and usually know what it's worth. A lot of home buyers do not. Most people only buy 1 (maybe 2) houses in their life so are generally inexperienced. They usually want to know the price. They will ask the agent anyway. Most I know say the price will usually be in the middle. If there is a huge demand you may have several people making offers so can judge the market I guess. When the FHOG came out last year places had a price but first home buyers were offering above to get them. As the other poster said- don't just choose the one with the highest price if the home is not worth that. Friend of mine made that mistake and the property went stale and she lost about $40K. Personally, considering your layout (study/work desks in bedrooms), I don't think you have any other option but to leave NW windows and make them as big as possible e.g.… 7 10455 We had this happen to us last year and got charged a variation. Try and give away as much as you can that is usable to charity otherwise if you are in Sydney I have a… 1 4477 Not sure what council area you are in. Some LGA's allow zero lot retaining walls. 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