Selling without agent?

Has anyone sold anything without going through the agent? Is it do-able? What are the general processes like? Do you need to draw up contract first or...? Would you do it again?

 

I haven't done it myself but you would likely need to have some form of agreement/contract written up so you can provide this to interested parties, this can be arranged from your solicitor.

You would want to reach out to the non agent places that list your property online as to be honest if you are not on re.com and domain you are missing probably 99% of the market.

Take photos, be prepared for stupid comments and rea offering to help you with the sale.

How good are your negotiating skills?

 

You reckon it's a good idea to get contract prepared beforehand? Or leave it until there's an interested party?

Also, do you think it's a good idea to apply for subdivision permit before putting it up for sale? Would it make it more attractive to buyers? Does subdvision plan cost a lot?

 

Get a contract before you market - What would you do if someone is interested on day 1 and they then end up buying something else as you were not prepared?

Yes it cost money to get a subdivision permit, check with your local council. If it adds value then it might be worth it but depends on the buyer.

E.g. A developer will pay a higher price for something with subdivision approved as it reduces their hold time/risk. However if it is a family that is going to pay the higher amount than the developer it may not increase your price at all.

 

Hi yes ,
1: Get your contract drawn up
2: list your property on a buy place website or similar with photos and floor plan. Personally I like with when the adds have a floor plan. Total depending on the company and package is around 800-1000
3 Sell it
I had a property and was really tossing up do it myself or agent to sell it. 3 agents where very insistent saying I'll get 380-390. 1 off the agents was selling a property in the same complex (unit)
I thought I will just do it myself and if it isn't sold in 4 weeks I'll give it to an agent.
1st open home had an offer of 418, which was outstanding go them to 420. That day. Sold!
The agent who had the other property ended up selling for 380!
And stating the obvious we didn't pay commission. On a sale of this size about 50k infront.

You do need to do some work but there is a pay off. And sometimes easier as there is no middle so communication is direct.

Check how long others in the suburb are selling in and what price and go from there.
Anything in Syd i would prob say do it yourself.

 

anyone ever bought from a private seller? would have thought that in the digital age the prices asked are pretty much in line with what market price is - would be difficult if not more so to find a "bargain" given direct interaction with vendor

 

There commission was about 10k
In my case was able to negioate a sale price much higher than the real estate. (Not always going to be the case, but we did. )

 

Could be the case of
They are happy to take slightly less for the hassle of getting the house ready for opens and people walking through the house every week , agent commissions , dealing direct could result in a quicker sale

 

I am considering selling privately myself. Just wondering what do people think about using photos that are few years old, were done professionally when property was listed but never sold.
House hasn't changed structurally at all, just different tenants now and possibly different furnishings.
Also where to get the contract drawn up? I guess I can't use the standard contract that agents use from REIWA?

 

Get some scrap cardboard and a thick artline pen (knock one off from work - that way its free). Have you thought about photocopying your old contract? All up cant cost much more than $20.
I dont know why all the agents havent clicked to these ways of selling to keep their costs down ?

 

No need to be bitchy if you don't have anything positive to add.

 

There are 2 standard REIWA contracts. One is for REIWA agents, one is for use by Non-members of REIWA.

What is the Offer and Acceptance Contract? - reiwa.com

You should be able to buy a copy of the contract from a newsagent. Here is a copy of the form you are looking for but it is an old version so don't just print it out and use it.

http://www.firsthomebuyer.net.au/assets/Uploads/3-5-Sample-offer-form.pdf

 

Haha @Paul@PFI. Last time I bought a contract for the sale of land in WA it was $1.50 from a newsagency. We don't have the same system you have an don't have to pay hundreds to have a contract prepared for each sale. In Western Australia, real estate agents have clicked on this way of selling to keep their costs down. I have never seen an agent in Perth not use the standard REIWA contract.

Most properties in Western Australia are sold through an offer and acceptance process. A person makes a formal offer in writing to buy a property, and the seller, sometimes called the vendor, can either make a counter offer, reject the offer, or accept it and communicate that acceptance to the buyer.

Usually an offer to buy property is made using both the Contract for Sale of Land or Strata Title by Offer and Acceptance form, commonly called the O & A; and the Joint Form of General Conditions for the Sale of Land, commonly referred to as the General Conditions. Together, the O & A and the General Conditions constitute the standard contract for the sale of real estate in Western Australia.

The wording of the O & A is owned by the Real Estate Institute of Western Australia (REIWA) which is the peak industry body representing the interests of real estate agents. The General Conditions document is owned jointly by REIWA and the Law Society of Western Australia. Although there are other versions of these two contractual documents, the versions produced by REIWA and the Law Society of Western Australia are the most widely used in this State.
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Real estate contracts - sale by offer and acceptance

 

Thanks @Perthguy
Awesome and very helpful replies.

I just found this online, this seems to be more recent version. But I will certainly go to the news agency in the morning to get the latest.

 

You also need to track down a copy of the 2011 general conditions. They form part of the contract.

 

how did you all go with DIY selling?