Has anyone done any private sale by own? Would you do it again, or prefer to leave it to the agent? I guess the hardest part is to do the opens and the price negotiation?
I think knowing the local market for comparables, pricing, competition and interest will be the hardest. Often a private seller comes across as wanting too much so I can't be bothered dealing with them.
Good agents are worth every cent.. I'll never even think of excluding them. However, I'll speak to fair few before finalizing one and if possible ask for some feedback from their previous clients within the area.. and check other places like ratemyagent e.t.c e.t.c Good sales agent will be easily able to cover their cost by selling property at right price!!.. Cheers,
I have listed a unit for sale through one of the owner selling sites ($240) Conveyancer to prep the paperwork I ran opens myself, even had the roadside temporary signs I treated it the same as if I was looking to buy I looked at recent area sales, what was already on the market, and the local area rents. Came up with a price and added $10k to it, dropped $5k after the first week, another $5k the second and $10k on the third Had 15 attendees over that time, after week 3 I removed it from sale and had tenants by week 5 Sydney in a falling market wasn't worth fighting, back to Buy & Hold strategy
Hi I have strong opinions on this.. thought I'd share. I've sold at the lower end of the market, the middle and the top in the hunter region. 1. Lower end - I started with an agent during the boom, and soon realised he didn't actually do much work and was a liar so I changed to private sale with buymyplace.com. I ended up getting higher offers and it was much less stressful than using the agent. I posted the ad as 'inspection by appointment' which sifted out a lot of sticky beakers and attracted only serious buyers. I was very happy with the result. I also learned that a good conveyancer pretty does ALL the work - the agent doesn't actually do anything apart from open homes and answer the phone. 2. Higher End - this is where an agent comes in handy. My target market was retiree's / baby boomers. Cashed up but tight and nervous about the internet. First Agent priced the home much too high and we missed a number of opportunities. We ditched him and went back to private sale - we got a lot of inquiry but most of the customers were older and very very suss on buying a house from a coupla 20 somethings. They thought it was 'dodgy' and risky that we didn't have an agent. After 4 months, we found an agent who seemed to have great contracts and reputation - most of his customers are seniors who want the agent to show them a property in that specific postcode, rather than them finding the property on realestate.com. Looks like we will be getting a result soon. In summary - I think private listings will become BIG in the future - why pay $30k commission when you can do a simple exchange using only a conveyancer and the internet. Just like the Uber vs Taxi thing.. why pay more. IF you have a small target market, find a good agent who knows the target, if it is an 'off the shelf' house then do it yourself.
1. Shows you had a poor agent and you could do better job. Doesn't mean you got the best price though, good agent could have got you a premium price. 2. I personally don't like dealing with owner direct when buying, find that most overprice their home (extremely common that owner believe house to be worth more), ability to negotiate is normally limited. In saying that what is the norm does change, in the future owner might have better understanding of the value, how to negotiate, might become the norm. For now like most industries, good professionals will come out on top.
I tried and failed. We were selling a residential block we subdivided at the lower end of the market. I found many purchasers were quite uninformed about the process and relied heavily on an experienced agent to guide them through it. Dealing directly with me was a bit intimidating for them and i think they liked the third party to act as a go between, between buyer and seller. Ultimately we gave it to an agent to sell. That was just my experience. I would consider doing it again for different kind of property
We had a similar experience when buying (first home buyers). We viewed many homes, one was an owner seller. Her home was $50k overpriced and she thought it was the bee's knees. We gave up on that home as it was too difficult to work with her and she was just....well... there's no other way to say it- hopeless. We ended up buying from an agent, he helped us with the process and we're still friends with him and say g'day every now and then. Buying a home from an owner seller is like buying a car on carsales. There will be some good people out there to deal with but most are ill prepared and make the process harder for buyers.
hi all, I sold my apartment in SA using an online service (forsalebyowner) . had a good experience, not sure if I am lucky or agents don't add much but is pretty simple process, particularly for an apartment. the market isn't that hot in Adelaide but worked ok.
Location can assist DIY sales. If its highly visible and gets great traffic and you have time. I know someone with a (former) home visible from a rail line and a main road as well as water views. He had 2 VERY large vinyl banner signs made up and was bombarded with enquiries. Saved $23K and got $65K more than the best agent estimates. His next property was in a quiet street and he didnt bother.
I didn't have a sign as it was an apartment. however, I realised that 2bd 2bth apartments are pretty standard formula so there's not a whole lot of selling to do. saved myself 12k
