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Just sold our ppor privately.

Discussion in 'The Buying & Selling Process' started by ellejay, 24th Aug, 2016.

  1. ellejay

    ellejay Well-Known Member

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    Just thought I'd post if anyone else was thinking of having a go at selling without an agent. I know sometimes there are arguments for going with an agent but this was a house in a very regional area, only bought 18mnths ago so close to zero capital gain likely either with or without an agent. Advertised it on realestate.com and gum tree a couple of months ago. First viewer bought it! That saved us a small fortune :D Next chapter!
     
  2. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Congrats! Best of luck with the next chapter!

    Cheers

    Jamie
     
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  3. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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    It only takes one person to be the right match and away you go.

    Great outcome.
     
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  4. Scott No Mates

    Scott No Mates Well-Known Member

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  5. ZephG

    ZephG Member

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    Great work @ellejay! When it all boils down to it, it isn't rocket surgery and I think anyone and everyone should have a go at doing it. The savings alone make it incredibly enticing.

    I just sold my PPOR privately last week for $50,000 MORE than the highest of four appraisals. That, plus not paying a cent in commission makes it very worthwhile in my case.
     
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  6. ellejay

    ellejay Well-Known Member

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    Blimey, that is good work! Show those agents how it's done lol :)

    Actually, thinking I could probably also sell a couple of cheapie ips to other investors and save even more money now that I'm on a roll.
     
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  7. Mietre

    Mietre Member

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    Congratulations! I have noticed recently that 2-3 houses in our area had been sold privately and in quite short time frames as well.
     
  8. ellejay

    ellejay Well-Known Member

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    Thanks M. It was crazy easy and serious money saved. Great if it's starting to get more mainstream.
     
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  9. lightbulbmoment

    lightbulbmoment Well-Known Member

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    Great news just what i want to hear.

    This is the way of the future, we sell everything else privatelty in our lifes how are we not competent to sell our biggest asset.
     
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  10. Heinz57

    Heinz57 Well-Known Member

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    Did you use one of the online platforms e.g. For Sale By Owner? Thinking of giving this a go.
     
  11. ellejay

    ellejay Well-Known Member

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    Only listed on realestate.com and Gumtree. The buyer and pretty much all the viewers came from gumtree strangely.
     
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  12. Chris Jacob

    Chris Jacob New Member

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    Congratulations Ellejay. That is fabulous news. It definitely pays to consider all of your options - especially when you have such a unique situation.

    Good luck with your next chapter!
     
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  13. Ed Barton

    Ed Barton Well-Known Member

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    I'm not so sure.

    The internet has made it much more possible to sell privately. But the net being the main advertising mechanism has been around for a decade +, and I haven't seen a big increase in private sales. Having said that, people hold a house for a decade on average, so a decade is not a long time in the trend of how things are sold in RE.

    I've noticed a small change in paper advertising (Courier Mail lift out) recently. There are ads that don't appear to be placed by agencies. There is no big agency mast heads or agent's pictures. You have to get to the fine print to find out what agent is marketing it. The promotion is more realestate.com.au than LJ Hooker.
     
  14. Mitchell

    Mitchell Active Member

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    How did you get your ad up on realestate.com.au if you didn't go through a 'for sale by owner' type platform?
     
  15. willair

    willair Well-Known Member Premium Member

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    Gumtree works well for rentals also,i posted a rental inner southside brisbane and i had over 30 calls over 24 hours,it is a good platform to use,plus the money that stays in your pocket..imho..
     
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  16. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

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    Yes I'd like to know this too @ellejay as you can only list via an agency....
     
  17. ellejay

    ellejay Well-Known Member

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    We advertised on Gumtree and got a text from someone at For Sale by Owner (sorry I forgot to say that at the beginning). We paid $69 to advertise on realestate.com. Just saw the price on website at it says $99 for basic package but we may have paid a bit less.
     
  18. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

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    Aha now it makes sense :)
     
  19. ATANG

    ATANG Well-Known Member

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    How does the legal fees work? Is it the same as going through an agent where buyer and seller find their own conveyancer?
     
  20. ATANG

    ATANG Well-Known Member

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    Wow, i thought Gumtree only attracts dodgy people lol. Can't count how many of those who make up all kinds of stories just wanting to bargain.