Selling apartment in Melbourne Metro

Hi all,

I am wanting to sell a brand new apartment which I bought this year off the plan. I settled it back in January and want to sell to pay off my other property.

The apartment is located in St Kilda and is still under builder's warranty.
It's been over 6 months since I've been living in the property.

I am thinking about a private sale via one of those sites... I would rather save on RE agent's commissions.
I have never sold property before so just after some advice, is selling privately worth it or better to get a RE agent?

The place is a two bedroom apartment, one bathroom and with a parking space. Overlooks one of the main streets in St Kilda, Victoria.

Cheers!

 

Without knowing much or anything about your situation nor the property I would definitely use a professional REA to sell it as a good one should easily be able to get the comm saving back in negotiation and networking/marketing skills.

 

Hi there,

What about going with a private listing for a month or two at the start and if it does not sell then turn to RE agent for help?

 

What's the point of that? That just seems like going half-heated for a month or two, and then actually trying to sell.

 

Hi

For me it would come down to how good are you at negotiating the best price for yourself? If you are a negotiation guru and you will be aware of this as you would often have friends and family members contact you and call you in to get deals over the line in other matters such as the best price for a new car or even in other real estate property sales/purchases well then you may achieve the best possible price selling it yourself.

However if you aren't that negotiating guru it may work out much much better for you to employ the services of an agent that really knows how to achieve the greatest price for you.

Regards,

alicudi

 

Cheers for all the replies so far.

An update:

I have met two RE agents. One works for buymyplace and the other is a regular commision based agent. Both are based in St Kilda and know the area very well (upcoming projects etc in the area).

The buymyplace agent is older and seems to be very good at what he does. The second agent is younger but also has decent knowledge.

The first agent charges around $4500 for the sale which provides marketing and a RE agent for openings and inspections.
The second agent charges $5500 for marketing plus 2.2% for commission when sold.

I am leaning towards the first agent who does not charge commission based on what he said and his proposal to sell the apartment.

Also I have contacted the company who build the apartments and they said that people still call them to ask if any apartments are still available in the building. So I can potentially have two leads.
This way I am not locked into paying high commission if I sell directly to the buyer.

So technically the first agent sells it privately but with lots of marketing and providing his services.

I am keen to go with him for 2 months or so and if that does not sell thencan always get in contact with the commission based agent.

Any advice?

Cheers.

 

Two houses sold in my street last month - one across the road, and one two doors down. Properties are similar age and size, though one is partially renovated (kitchen & bathroom).

One sold with BuyMyMplace at $1,205,000. The partially renovated one used a conventional agent and achieved $1,245,000. Allowing for the kitchen and bathroom reno, and commission paid to the agent, I'd suggest the results were line ball.

 

So basically the same result in the end I guess?

What's everyone's opinion of buymyplace agents on here? Do they put in as much hard work as regular agents?

 

I don't mind BMP they are kind of slow in responding though. Have you checked out nextaddress.com.au I used them last year to sell and they were fantastic. They're cheaper than BMP but their platform automatically matches buyers with your property so you can negotiate online, they have 24/7 support apparently, I found them useful every time I needed, they're pretty new