Just sold our ppor privately.

Yes, both sides find a conveyancer.

 

yeah its the same process as with the agent, except you dont have to pay any agent commission and fees, you are the agent.

You will still have to pay your conveyancer/lawyer to do the paperwork.

 

Someone posted this article in another thread ... an interesting read and totally agree

Are real estate agents dead in the water?
This is the age of disruption, and real estate agents are about to cop it.
Are real estate agents dead in the water?

 

Thanks for sharing! Might do the same.
Do you know the guy come from realestate or gumtree?
Selling so quick is because you sell it in very good/competitive price?

Would you mind telling what's the fees occur in the selling?
What I know is,
1.Advertising and marketing fees, ad in realestate
2.Legal Costs/solicitor
3.Financial Institution Fees, eg terminal with bank, especially fix rate mortgage.
Any other fees?
Thanks!

 

Advert

Advertising via For Sale By Owner is $70-100 or more depending on the package you choose. Just google them.

We had 3 agent appraisals first to work out advertising price.

Break fees were $200 or so with suncorp.

Lawyer $1k ish I think.


Break fees and legals would be the same no matter who we sold with.

 

You have to sift through the enquirers, it's quite a process

 

Thanks

this one is $200 package to ad on realestate.com.au
Minus the Agent | Sell or Rent Property-Qld-Australia
it didn't say how long, some more expensive package said ad until sold.
I think you can advertise directly on realestate.com.au by yourself?

And do you sell marketing price or a little bit under marketing price so it can sell so quick?
What do you think your property attract the buyer?

 

The house was in village outside a regional city. It was a less fashionable village and so there was a lot of bang for buck as opposed to surrounding offerings. Very pretty section with wow factor, large sparkling pool.

We didn't market under value so as to leave room for the inevitable negotiations. Depends on location obviously.

 

That's pretty lucky, worth a try, did you give very firm price or price range? Did they try to bargain?

 

I have used this platform a few times with land sales.Works ok.What i did find is if you put the property on Gumtree, they will come to you with a special offer to advertise with them, in my case it was $99.

 

That's what happened with us, pretty sure it was $70 but hubby would have gone with the cheapest deal.

 

We listed a firm price and yes, they bargained hard We had a minimum figure and stuck to it.

 

So probably should ask for higher price in the beginning cause they will bargain!

 

Yes definitely because you can always reduce the price if needed but unless it's a hot market you wont be able to negotiate up on your asking price.

 

Incorrect, selling packages start at $699
For Sale By Owner | Sell On Realestate.com.au & Domain.com.au


.

 

I thought I would update this thread to share our experience selling our PPOR privately using forsalebyowner.com.au.

Some background. We live in a high rise apartment in inner Brisbane, absolute waterfront, luxury end of the market, 156m2 compared to some of the stuff going up around 80m2. Apartment is 18 years old, and in the past 12 months we renovated absolutely everything.

Our reasons for selling were to fund our retirement and also because of concerns about the 40 plus cranes on the horizon. Plus the 2011 flood came a bit too close for comfort.

The good thing about living in a high rise block is you know the price. The bad thing is one desperate seller can drive the price down.

In the time from when we started renovating to sale I estimated the market dropped about 40k. So we missed the peak by about 6 months.

Also for sale in the building was an identical unit but in original condition and another on a high floor partly renovated but staged for sale.

As well as the internet listings we produced a professional flyer and our solicitor did all the contracts and searches. A friend did professional photography and all up we spent about 2k. We timed our inspections to coincide with the other agents and my better half waited downstairs. We let the buyers see the unrenovated properties first before showing through ours. The comments the agents made to my S O quickly made us realise that we were better placed to sell our property than they were due to our knowledge of the building and our local networks. For example one of the tradesmen who worked on the renos showed 2 couples through.

 

Anyway, the response was huge, even to the extent our neighbors helped with open houses.

Downsides - everyone was too polite, everyone loved it and nobody made an offer. One of our hot leads bought the apartment on the high floor for a price we would have taken. I've worked in sales all my life, bought and sold real estate and began to doubt my ability to close the deal.

Finally we got a cash offer. Less than we wanted, but cash deals don't come along very often. At that point an agent would probably have got us a better price, without a doubt. On the plus side, we negotiated very quickly and were able to offer various sweeteners to get the deal over the line.

Ultimately we got our asking price, less what would have been the agents commission less about 5k discount.

The unrenovated place is still on the market.

We are really happy with the process and our result, but it's not for the faint hearted and closing that deal was very hard.

 

Any advice on how to sell a property interstate by yourself? Sure you can advertise etc but who's going to do the OFI's?

 

I think that would be really hard. Unless it's in Brisbane in which case my weekends are suddenly free!

 

Ellejay did you put your mobile on realestate and Gumtree?