Helping vendors to sell their properties themselves.

Im in the process of selling a second property myself. I found the 1st one to be pretty easy though it took a little time to sell. I used one of the on line companies to get it on the major sites and I enjoyed the process of showing and negotiating etc. I used a conveyancer for the legals and probably saved in the region of $10k
This got me wondering what if I could help others who are a bit reticent to go through with the process of selling themselves ,showing and negotiating etc and for whatever reason would prefer not to go through a real estate agency I could do a better job of photographing and writing the description of the properties than a lot of the ones I've seen .
Thinking along the lines of charging around .5% of tthe sale price? I'd be the only contact with the buyer and organise the conveyancer etc.

Just my musings while lazing around on a hot Sunday afternoon. Whatcha think?

 

I think you want to be a licensed real estate agent and offer a cut price service.

 

I think you will need a RE licence.
Marg

 

No I won't. The vendor signs up with an online sell it yourself agent. All I do is take the place of the vendor from then on.

 

Yes you will if you accept commissions for the sale of properties you do not own you must be licensed.

 

Check the relevant legislation. It sounds like you would be in breach of the law

 

I'm not actually selling the house though. The vendor will pay me to show prospective buyers through their property.

 

Your a host. Thin line. Especially when your remuneration is based on the sales price and you said you would negotiate the sales price.

 

I see no problem if your just helping answer some questions about the process, if you get involved in helping with the sale, I think you would need to be licensed REA, you would be sticking your neck out otherwise.

 

Oh, I just saw the pay part, you would need to be licensed, otherwise what do you think all these other guys went and got a license for ? I assume they are required too, whether they did the back office work or not.

 

Setup one business entity that takes photos and writes descriptions for an upfront flat fee. No license needed.

Setup another business entity that does home opens on an upfront per-open flat fee basis. No license needed.

Avoid the negotiations bit you mentioned. Avoid taking commission.

 

Sounds like you've made your mind up you don't need a license, but everyone's advice is correct. P.s. In my opinion the only to pay anyone anything in connection for a home Sale of for superb negotiation skills, if you think they'll achieve a better marginal result than oneself.

like

 

Are you sure you saved $10k last time?

Maybe an agent would have got you a better price, quicker.

 

Scaleable.

Set up a website > create free general content to show authority > create an ebook "how to sell through listmyplace or whatever" > Charge $99 for the ebook > Set up a premium service for $300 or whateverwhere you 'coach' people through their own service (include 2 dedicated skype calls a week) > set up a premium service for $499 for up to 10 calls a week for guidance.

Just spit-balling ideas here mate.

 

A friend set up a company in the UK that allows vendors to list their property on the local equivalents of Realestate.com.au and Domain.

BeStreetSmart.co.uk - Online Estate Agents

It's probably a more scaleable business than just advising people on a one-off basis, but would need a certain amount of funding to set it up.

That said, there's quite a lot of money sloshing around looking for an opportunity, and I know that there's a cluster of start-ups in Perth, so there might be an opportunity to replicate the model.

 

And if your showing them through, then what ? Is vendor negotiable and you reply ?

I can't see how this is not acting as an agent.

Also, is it worth playing around if the business cannot support and pay the very minor training fee and other fees for a year ? Just get the license I reckon, more opportunity, less neck on the block

 

I agree I think you need to be licensed. Purple Bricks list properties and when ever an inspection is booked a licensed agent turns up to do the inspection and negotiate. To negotiate on behalf of the seller and receive any payment for that service is most likely going to require a licence.

 

Minor training fee and other fees? If he is going to work independently then he needs a full licence and that course and licence fee is not cheap Full licence course is $2500 through REIQ and the licence fee is approx another $2500 for 3 years....... Then you need a physical business address for the business as part of the licence requirements. Plus insurance