Browse Forums Real Estate Re: Anyone sell their own property (no agent)? 47Jan 08, 2010 7:37 am It looks like we are all in agreeance, if you have the inclination, time and knowledge you can see your own home privately and save money. Dilla, you have been fair and diplomatic in your responses and are probably one of the better real estate agents, but you would have to acknowledge that their a lot of agents out there that give the profession a poor reputation overall. This is a reason why going private is not a bad thing as you can generally trust yourself. There will be more and more options like Gecko and SaveonCommission popping up over the next few years and I beleive that the days of the traditional RE will deminish in due course. Re: Anyone sell their own property (no agent)? 48Jan 08, 2010 2:04 pm kaindec This is a reason why going private is not a bad thing as you can generally trust yourself. There will be more and more options like Gecko and SaveonCommission popping up over the next few years and I beleive that the days of the traditional RE will deminish in due course. Agreed. Re: Anyone sell their own property (no agent)? 49Jan 08, 2010 2:23 pm n&n02 kaindec This is a reason why going private is not a bad thing as you can generally trust yourself. There will be more and more options like Gecko and SaveonCommission popping up over the next few years and I beleive that the days of the traditional RE will deminish in due course. Agreed. There are already two other agents around my suburb that are now doing "fixed commissions" in addition to the Gecko (and they are undercutting Geckos commisison rates too!!) Times in the RE industry is definetly changing and I think most RE agents will be forced to lower their standard commisison rates to compete in the industry. Just my two cents worth anyway. You must be near me, they have office sprouting up everywhere from albany creek to caboulture. I have nothing against real estates in general, however I think they dont sell houses and is more the case people that buy them. The only selling they do is enticing the vendor to list with them. I know marketing the property will be said to be selling it but it is just that marketing and these days realestate.com is not a innovative or exclusive idea. It is what everyone is doing. Re: Anyone sell their own property (no agent)? 50Feb 11, 2010 4:16 pm Well if you can't see me smiling through your screen, take another look!! ROFLMHO!! Yesterday contracts for the sale of my house were exchanged (so what?) and to say I'm ecstatic is an understatement because it was a DIY sale and cost me nothing. A friend who owns a printing business made a simple corflute sign (900 x 600) and I bought a $20 (with $2 discount) prepaid SIM which I put in a second mobile phone so my (unlisted) mobile number is not on public display and once the sale, and later building project is complete, I can ditch the prepaid number. Today I've mailed a gift voucher to my friend who made the sign, he wouldn't take any $$$'s when I collected the sign and I'm not sure what his choice of poison is, so decided a gift voucher allows him to choose. The phone has run hot with a minimum of 2 calls every day and a maximum of 4, so there was heaps of interest. Only one man knocked on the door, but that was OK as the sign said 'apply within or phone'. One or two didn't arrive for their inspection as arranged and didn't bother to phone either and it wasn't hard to tell the neighbourhood stickybeaks when they phoned. They made me smile anyway, because they didn't realise I had pre-planned questions I asked those who I thought were just being nosey. LOL Four real estate agents phoned and of course told me the house wouldn't sell unless they had it listed as they have this lonnnngggg list of purchasers just waiting to buy in this area....OK, give me their name, send them to my house and when they buy the house I'll pay a commission that I think it's worth, any money is better than none. Not one took me up on my offer!! The bloke who knocked on the front door was 'the' only one (out of around 30 calls) who asked 'who does the negotiating?'......so I offered to him and others, that 'if' they really wanted to go through an agent, then that agent's commission will be added to my asking price but everyone (except him) said they would much prefer to deal with the owner and avoid all the BS. I didn't even get time to take the photos or even decide which website I would use to list the sale but I had typed a description. eBay would have been one choice because a $20 classified ad for a month was cheap advertising, but that didn't happen either. So to anyone thinking of doing the same.......do it!!! Your bank account will love you!! Re: Anyone sell their own property (no agent)? 51Feb 14, 2010 2:03 pm Very interesting and releveant info here and on a whole, very constructive comments. I am an Agent (with more than 20yrs in the industry) and would like to share the following storey..... for what its worth. This is a sale I managed litterally a few days before last Christmas. It was a deceased estate.... the family was keen to sell themselves. They commissioned a 'local Private sale Company' to prepare a Market Report for them and a probable selling price. They were informed that a price in the 'Low $800,000's' would be probable, and looking at recent sales data would have seemed to support this. The family approached a neighbour who had previously enquired about purchasing, and a sale at $820,000 was negotiated and contracts issued. Easy sale.......... This was when I became involved. I had recently Auctioned a property close by, and very genuinely had 16 registered bidders who missed out on the other home (which had exceeded the street record by more than $200k). Another neighbour tipped me off that a sale was occurring and I called. I asked for a 7 day Agency, and showed the home to 6 of the underbidders from the other property. The first underbidder proceed to exchnage immediately at a sale price of more than $1,050,000. The orginal purchaser was very upset..... understanably..... BUT the Owners / beneficiaries pocketed more than $250,000 above the private sale price. I suppose what I am saying is..... make sure your 'cheap sale' is not costing you more than you think?? Re: Anyone sell their own property (no agent)? 52Feb 14, 2010 7:50 pm Depends on ability in the end - Our story- Bought 545k in Sept09, house was originally listed at 599k+ and was on the market 9 months with LJH. We had to sell as our son has hemiplegia and the stairs were a safety concern. We were told by the physio it would be good for him. Turns out they werent. We were prepared to take a loss but spoke to OSR about SD reaccessment and were told any more than 575k would incur a SD of 10k and capital gains tax. We tried our luck and put on the market as a private sale at 569k+ and had the first offer on the first day of 595k. I had 6 people standing around me making offers, I then advised them of the circumstances and they were astounded. I said I would love to take you offers but the most I can take is 575k. I gave it to the first person that made an offer out of ethics and all has been settled in 21 days. So my concern would be, why couldnt the original RE agent sell it for more than the 545k over 9 months when I could sell it in one hour for 50k more if wanted too. Basically, 6 offers in one hour and all viable. Other advantages were I had the house open for 90mins and the buyers appreciated it. i could sell it as I know if better than the REAgent and the prospects apprceciated dealing with the owner despite what other have said. We bought off the same agent we purchased our old house off and they had this house on the market of 5 months. I got to know the vendors and they said they were advised to knock an offer back in the first week of 740k. We purchased it for 685k. They were charged 19k comms and advertising and felt ripped off. Not by us but by the REagent. I am sure there are some good REAgents out there but this goes to prove again if you have the apptitude and knowledge of the market then you can sell your own home at a fair market price in a short time frame. If you dont have the knowledge then sure use an RE Agent but do you research. Good Luck Re: Anyone sell their own property (no agent)? 53Feb 16, 2010 11:48 am Kaindec...just goes to show that you 'can' have a successful DIY sale but in saying that I also admit some people couldn't handle the extra work and stress involved. My purchasers are very happy and so am I. Signature...my sale achieved 16% above the recommended 'listing' price by three local agents, which of course means their 'selling' price would have been in the vicinity of 21-22% less than what I achieved. Not one of these agents (or the four who replied to my for sale sign) would even consider a shorter term than 3 months. Re: Anyone sell their own property (no agent)? 54Feb 17, 2010 11:43 am HappyCamper_au Heres a tip for you........ If an agent tells you he has a buyer....... and then won't take an agency period of less than the standard 90 days........ he's probably fibbing. If the buyer is there he will need nothing more than a week. Different storey completly though if your talking about a marketing campaign....... where 90 days is the norm. Re: Anyone sell their own property (no agent)? 55Feb 17, 2010 4:53 pm It goes the other way, too. I met three top agents in my area, to interview them to sell my place. All of them wanted to list my place for between $480-$499K. They ALL said it would never get over the 500K I wanted, and two were patronising about my views that it was worth 500K. So, having a background in sales, and having lived in the place and knowing all its selling points, I decided to sell it myself. I listed it at $520, and got $505K It was sold within 3 weeks, and cost me less than $200 in advertising, a few Sunday afternoons of my time, and both buyer and seller were happy with the price. It's really not rocket science... Re: Anyone sell their own property (no agent)? 56Feb 17, 2010 9:28 pm House settled today, no dramas. Left the keyes at the solicitor and even let them move in before settlement. This was how good the relationship was between vendor(me) and buyers. I now have a lot of friends asking how i did on my own, its almost patronising when I say any idiot can do as long as you are reasonable in your expectations. I have never had a REA tell me the real price I could get for my property, either to high or too low. In one case 90k to low. She pulled the report from the previous sale 18 months earlier and said the market had not moved. She didnt enquire about the 140sqm I had reclaimed on the land with retaining walls. Being in sales made my job easier but it also irks me when the REA doesnt do there proper due diligence with basic Q's and inspections. I didnt tell them what I do for a living and also made sure I met them in boardies instead of my corporate attire. This is a good way to see how far they go with there spiel on what they will do and know about the market. I didnt sell my house, someone else simply bought it. People dont realies the only selling they do it to you the vendor to get them to list on your behalf. Theres not upselling,the marketing is basic. I dont see the value in wide angled lenses etc to make your house look bigger to get more people through the door as this means the real prospects dont get to talk to the REA at the open house. Smoke and mirrors. Re: Anyone sell their own property (no agent)? 57Feb 18, 2010 3:04 pm Congratulations Caroline and Kaindec!! You made me smile about the comment 'any idiot can do it' because that's exactly what runs through my mind when people are surprised I sold so quickly....it's not rocket science! Funnily enough, some of the knockers are now asking me to help sell their houses...not likely, I'm too busy packing and don't want any finger pointing if their sale wasn't as quick as mine. Just arrived home an hour or so ago to a message from a REA who wants to come and give me an appraisal and list my house it appears he's assumed because the sign has been taken down that I've tossed in the towel...goes to show he doesn't know how much I enjoy a challenge and (like both of you) with a background in sales it's easy peasy, just be honest, open and upfront with people and they respect you for that alone. K, I didn't get a chance to take any photos as I didn't expect such a huge response over the Xmas hols, although I didn't intend to use a wide angle lens that's not playing fair, imho! Re: Anyone sell their own property (no agent)? 58Mar 20, 2010 7:40 pm dilla There seems to be a recurring theme here whereby those 'against' using an agent to sell their property can come up with one argument only. Commission. You are paying the agent for their service. Give me some actual positives about selling your own property other than saving on commission. Is it the research that goes into coming to a reasonable price for your home? A. yes researching yourself gives you a much better feeling as to the veracity of the actual asking price you arrive at. I've seen too many agents with poor knowledge of town planning, building issues, etc that come up with inappropriate asking prices that dont reflect a properties true worth. That sentiment is echoed by other private sellers here. Is it taking the photos properly? A.Definitely!One thing that gives me constant amusement is the ** photos I see on internet listings by agents who cant even use a camera properly. Any halfwit can take a good picture these days with a digital and an appropriately sized flash, so why cant a REA? doing your own photos produces much better results. Is it writing your ads? A. Definitely! It amazes me how little thought goes into some of the blurbs you see on listings. Agents dont seem to sit down and think it through properly. I ve seen houses in quiet streets for sale, yet the agent doesnt even mention that on the blurb! We sold a house with a big air con unit (important in Cairns), and yep - no mention of it by the agent in the blurb. Good grief. That could be the make or break in a hot area! Is it booking your ads into newspapers etc, then spending time proofing them to make sure they don't have mistakes? A. News paper ads are out - just too expensive. One of the agents here (Josh_g) said realestate.com.au generates 80% of more of interest and thats the only advertising I do when Ive sold. Huge glossy pictorials and spreads in the paper never used to exist in the 80s, and property still got sold then. ITs all a ruse concocted by the unholy alliance between print media and big NAtional real estate franchises - REA offices get kickbacks by continually feeding the paper media bucketloads of (msotly unecessary)advertising. Why would anyone bother reading it? I guess the old timers who dont have a net connection? Is it the higher advertising costs? A. Higher costs there are more than offset by the savings of RE commissions. So not a factor in the overall cost to a private seller. IF you have a saleable house, you shouldnt be advertising it that long Is it making call-backs after inspections? A. IS it really necessary? anytime Ive really wanted a property, Ive made it known to the seller/agent. I dont sit like a wallflower and wait for something to happen. Interested buyers will get back to you. Is it negotiating the best deal? A. Yep. cos I'm damn sick of agents calling you up with low ball offers after you've told them before you're not interested under a certain price. Doing your own negotiation is much easier and less stressful. A private seller has a vested interest in getting a good price. The agent's fee structure provides no incentive for them to get you a really good price on anything except a really expensive home. This is still one of the great cons in the real estate industry to the detriment of sellers that needs to be fixed via legislation changes. But I agree some people just arent the type who can negotiate , so they need an agent. Is it any of the million other things agents do for their clients? A. Giveus a break! Like what? Except create friction through poor communication, lack of follow up, non returned calls, incompetence,etc..... Honestly, apart from saving on commission, there is no positive in trying to sell your own home that I can think of. A. Well now you have some to think about. Two words - "Control" and "Efficiency" are very empowering for the private seller, and much more palatable than dealing with real estate agents. Of course, we all know private sellers are a minority - but the times are a changing..... Re: Anyone sell their own property (no agent)? 59Mar 21, 2010 7:28 am bobbin_84 When we were looking to buy our first home we mainly searched on realestate.com and to a lesser extent domain.com, and I imagine that a lot of people would be in the same situation. I would much prefer to deal with someone selling through an agent. We felt much more comfortable knowing that the proper processes and arrangements are in place - especially when dealing with something worth so much money. Actually I feel this persons comments are the most pertinent to this thread. As agents have stated here, buyers dont like dealing with sellers direct. And I have found that to be very true of most people. This is the single biggest problem when selling yourself. Buyers dont like you being there when they look thru your house (why do you think agents ask buyers to leave during open houses/inspections)? Buyers wont talk to you, ie give you their free opinions about what they think, or any feedback. Peoples sensibilities these days are so delicate, and they dont view a house purchase as a business transaction, but as a personal transaction. lol Agents know that, and capitalise on it. Personal experience has shown that most buyers dont understand the real estate game, just like bobbin_84. They think "an agent is a guarantee that the proper processes and arrangements are in place" . Its that sort of ignorant attitude that is a barrier to owners selling their own home. Fear of the unknown is what drive people to irrational behaviour. Anyone who knows the game knows there is no more risk dealing with an owner than with an agent. Agents are not qualified to prepare legal documents (contracts), and I believe they are barred from doing so in all states except Qld and Vic. In Qld, an owner seller must give full disclosures and a cooling off period by law the same way an agent does. As for the rest , well your solicitor will make sure its all done properly, and because the vendor happens to be selling himself doesnt compromise that one bit. What needs to happen in Australia is for more and more owners to become self sellers, and get people used to the idea of buying that way, and thus knock out this "ignorant" idea that the only way to buy is through an agent. Re: Anyone sell their own property (no agent)? 60Mar 27, 2010 8:15 am aware bobbin_84 When we were looking to buy our first home we mainly searched on realestate.com and to a lesser extent domain.com, and I imagine that a lot of people would be in the same situation. I would much prefer to deal with someone selling through an agent. We felt much more comfortable knowing that the proper processes and arrangements are in place - especially when dealing with something worth so much money. Actually I feel this persons comments are the most pertinent to this thread. As agents have stated here, buyers dont like dealing with sellers direct. And I have found that to be very true of most people. This is the single biggest problem when selling yourself. Buyers dont like you being there when they look thru your house (why do you think agents ask buyers to leave during open houses/inspections)? Buyers wont talk to you, ie give you their free opinions about what they think, or any feedback. Peoples sensibilities these days are so delicate, and they dont view a house purchase as a business transaction, but as a personal transaction. lol Agents know that, and capitalise on it. Personal experience has shown that most buyers dont understand the real estate game, just like bobbin_84. They think "an agent is a guarantee that the proper processes and arrangements are in place" . Its that sort of ignorant attitude that is a barrier to owners selling their own home. Fear of the unknown is what drive people to irrational behaviour. Anyone who knows the game knows there is no more risk dealing with an owner than with an agent. Agents are not qualified to prepare legal documents (contracts), and I believe they are barred from doing so in all states except Qld and Vic. In Qld, an owner seller must give full disclosures and a cooling off period by law the same way an agent does. As for the rest , well your solicitor will make sure its all done properly, and because the vendor happens to be selling himself doesnt compromise that one bit. What needs to happen in Australia is for more and more owners to become self sellers, and get people used to the idea of buying that way, and thus knock out this "ignorant" idea that the only way to buy is through an agent. Whoa there Aware, I'll just wait for a second while you climb down from that high horse... My attitude is not ignorant. Of course people can sell their own houses - this has been proven time and time again on this thread. In my situation as a buyer however, I did not have the inclination, or the time to put in to do the proper research etc. So therefore - I guess I would fall into YOUR 'ignorant buyer' category. In all honesty though - why should I, as a buyer, have to do any extra homework (so I can 'understand the game' as you put it) just so you can sell your house to me? You make it sound as though only uneducated idiots would use a REA, as opposed to those superior beings who can (or should I say, want to) do it themselves. Whether that is how you meant it or not - that is the way your opinion has come across. Can I assume that you stay at home, cut up some fries and make your own hamburgers rather than going to McDonald's for a quick and easy snack? Or as I said in an earlier thread, that you have a cow at home which you milk yourself, instead of going to the shop for a carton of milk? Probably not. But - if you wanted to - you could. Does this make you ignorant? No, it just means that you perceive the process of going to a shop where someone else has taken care of the production to be easier than going through the process yourself. Before you rip it up, if you can in the grout lines, drill some holes and pour/inject techgrip by sika. I have used it to bond mdf to timber, but in the process it dripped… 1 4325 Not much in this responce. My suggestion is, what are you looking to build and why. This will all be impacted by the local councils planning scheme. Familiarise yourself… 6 5902 Use a product like Equisol's Vitalise to clean the deck then coat with a penetrating timber oil. It will look 10 years younger and add value to your home. Visit for… 1 15851 |