Creating a better way to sell property - need help!

Discussion in 'The Buying & Selling Process' started by 2409, 11th Oct, 2015.

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  1. Big Will

    Big Will Well-Known Member

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    Melbourne, Australia
    I'll go first.

    Couple of things;

    Are you a For Sale By Owner website, online marketing website or an one stop shop who will outsource all the work? As it reads like a for sale by owner.


    1. Buyers Profiles - Is it a requirement that buyer complete a buyers profile before searching? Re & Domain already have this although I don't think it is communicated back to the REA. What if an investor was looking at buying a PPOR? Be nice to see what properties they saw before, how do you determine if they attended an auction? I rarely use the calendar features on the websites as I don't have outlook at home (prob should). How do you determine what properties a buyer purchased before?

    2. Campaign tracking - already on re.com and domain is it any different? If it just gives the vendor direct access to this how will the REA like it as they cant run over the numbers with the vendor. If a vendor isn't getting these numbers then the REA isn't doing their job in my eyes.

    3. Packages - This confuses me...
    What is unlimited inspections?
    What is a beautiful signboard (does that mean picture board?)
    Does the other package get a generic board?
    I would rather have 'Listing on realestate.com.au and Domain' and another line of 'Featured Listing on realestate.com.au and Domain' with either one ticked (basic) or both ticked (upgraded package)
    Negotiation and settlement - Is this getting a REA/legal involved?
    Dedicated negotiator
    Auction process
    Conveyancing and settlement

    4. Edge Estate sources a trusted estate agent to run auctions and negotiate with buyers. How do you source REA I am assuming they will get a cut of the pie.

    5. Is it flat fees or do they scale, it appears flat fees. You really should be comparing the $8,000 package to a REA as the basic package is really just comparing an Agent's marketing package to yours and of course it would be cheaper.

    You might want to include in the comparison figures a spot where they can add how much their marketing package is going to be with the REA and add it to the total. This would boost the savings part and make you guys look better.
     
    Last edited: 23rd Nov, 2015
    2409 likes this.
  2. 2409

    2409 Active Member

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    Thanks Big Will - not sure where you are in Melbourne but I definitely owe you a coffee.

    1. Buyer profiles - we aim to collate buyer profiles from inspections / auctions and people emailing in. Due to the traditional agency model, buyers find themselves having to give details to multiple agents from the same real estate agency since no one talks to each other. By capturing into one database we can hopefully get a clearer picture. (e.g. what properties they saw before etc.)

    2. Correct - simply campaign tracking in a format which is easier for vendors to understand (as opposed to the current method of the agent calling to explain what's happened this week)

    3. I'll try and clear up what each of the features mean in my next turn. Thanks

    4. Correct - REAs I've spoken too are happy to take a much lower commissions if they are handed a listing to negotiate. A vendor is basically paying us to do all the process management and for an REA to negotiate. Currently a vendor is paying 20-30k for an estate agent to do a lot of admin. For $8,000 all up, I am definitely going to be living on baked beans for a while...

    Thanks for the marketing comment - I'll put that in as well!
     
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  3. Big Will

    Big Will Well-Known Member

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    I wouldn't want to take a coffee off someone who is living off baked beans ;)

    All good though, with a bit of polish it might be interesting.
     
  4. joel

    joel Well-Known Member

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    I haven't clicked your link but if you're creating something that walks vendors through the process of selling their own property, at a much lower cost than a REA, I'd use it. I think most people would be intimidated by all the paperwork and making sure they follow correct procedure.
     
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  5. 2409

    2409 Active Member

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    Thanks Joel - yes I will be differentiating from the DIY crowd by providing help and the ability to drop in a agent / negotiator to help when things get hairy.
     
  6. 12506

    12506 New Member

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    Hi guys, there are a few of these businesses that have gone bust recently (I think mysale.com.au). Propertynextdoor.com.au seems to have legs but it will be a long slog and they've got great links into the industry. New search portals like housi.co among others are also in for a long slog but are quite interesting.
     
  7. Xenia

    Xenia Well-Known Member

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    Nothing can replace the negotiation skills of a good Real estate agent.
    This is the key difference between getting a fair market price and a great price.

    Human psychology goes far beyond knowing a strategy.

    In Property Management too. All agents know (or should know) legislation That binds tenants and landlords, but knowing when to speak and when to shut up and what evidence to present is the difference between doing it by the book or getting a win for landlords as property managers are paid to do.
     

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