Browse Forums Real Estate 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? 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