Selling without Listing

Discussion in 'The Buying & Selling Process' started by albanga, 3rd May, 2020.

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  1. albanga

    albanga Well-Known Member

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    Hey All,
    I am toying with the idea of selling my home but don’t have any real urgency. With the current climate I especially dont want to go through the listing process.

    So all I’m really looking to do is make it available to agent(s) if they have buyers looking.

    Has anyone done this? And if so how did you find it? Also since your not technically listing can you open it to multiple agents?

    Thanks in Advance
     
  2. wylie

    wylie Moderator Staff Member

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    We sold a house like this 20 years ago. We had one agency calling and visiting trying to get us to list and sign up for an auction campaign. Meanwhile, another agent quietly got a signed contract. That fell over, and she brought us another buyer. We signed the listing form as we were signing the contract.

    I do believe these days we'd have to sign a listing form before they even start calling their buyers.

    I say you have nothing to lose. Is this your own home, or an IP (makes it just a little harder if your tenants are uncooperative, but that is the case however you sell it).
     
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  3. Scott No Mates

    Scott No Mates Well-Known Member

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    In NSW an agent "can't" lift a finger without the sales contract prepared (for residential) and won't if they don't have an agency agreement.

    You can list with multiple agents (non-exclusive basis) for an off-market transaction, not have signage or website marketing but the agent won't pay as much attention to this as you aren't serious in selling.

    If you're committed to selling (realistic), agents will put in the effort.
     
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  4. albanga

    albanga Well-Known Member

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    Yeah owner occupied. We live in a townhouse with 2 dogs and 1 cat and have a 6 month old. Noticing pretty fast how much space we need and really don’t want a double story anymore.

    But it won’t be a real hassle for a good year or so hence no urgency.
     
  5. albanga

    albanga Well-Known Member

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    If I’m being honest I’m half committed.
    My motivation is half lifestyle half strategic. My wife and I know for certainty we want a bigger property and single story is a must.

    But I also believe the market is going to take a massive hit in both values and rental so looking at a potential out but without the costs of listing and being fully committed.

    I have a figure in my head. If I was able to achieve that then I would sell. If not then I’m also not phased. If I don’t sell then when the time comes to move then it would be done in the same market so no gain no loss.
    If however I could get out now for a good price and then buy-in in a few years time then I think I would do really well. I also think in the interim I could get a really good and cheap rental.
     
  6. balwoges

    balwoges Well-Known Member

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    So true ...
     
  7. FredBear

    FredBear Well-Known Member

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    Currently in the process of doing this. A few weeks ago agents were only interested in having a 90 day exclusive agreement and the full campaign. Now they are begging for a 1 - 2 week open agreement/off market so they can bring buyers off their database. I'd keep it to one agent at a time, most serious buyers would be known to all the local agents.

    In NSW you need to have the sales contract ready. You can leave the details on the agent blank. Also have a clause that protects you from multiple commission claims. Make sure the agency agreement is clear about what introducing a buyer to your property means.

    Check what the agent currently has for sale on-market. Listings are way down so you might get a lot of attention if yours is the agent's only listing.
     
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  8. Propin

    Propin Well-Known Member

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    I sold my first property that way 21 years ago, Qld. I got an appraisal last week for another property. The agent asked if he had buyers who missed out on other properties would I consider selling now, letting them view my property. He said he's been doing a few off-market lately as their is less listings. It wouldn't hurt to get some appraisals and gauge what's happening in your suburb.
     
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  9. wylie

    wylie Moderator Staff Member

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    If you wanted to get it on the selling sites, you could use a company like Cubbi that can do that for you for much cheaper than an agent's "bells and whistles" internet campaign.

    Anyone who wants to look can be directed by you to the agent.
     
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  10. FredBear

    FredBear Well-Known Member

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    Isn't Cubbi only for rentals? For selling you could use for example propertynow, their advertising package is $694. I've been quoted $2500 for the same advertising from an agent.
     
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  11. The Y-man

    The Y-man Moderator Staff Member

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    Can one take sort of a reverse process and contact BAs in the area to see if they have any clients that might be interested?

    The Y-man
     
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  12. JValk87

    JValk87 Member

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    I have heard of people approaching losing bidders at auctions for properties that are similar to theirs, and asking if they would be happy to sign a contract for their highest bid.
     
  13. beachgurl

    beachgurl Well-Known Member

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    There are a few agents in Sydney who are listing properties on facebook only. They save the advertising fees and are generally getting the same prices they would during a full campaign. Maybe give someone like that a go? Btw they are fairly prominent agents in their areas. They see the value of their existing databses over the exorbitant re.com.au fees
     
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  14. MTR

    MTR Material Girl Premium Member

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    I spoke to an agent at an open home, my house was not listed but he said he had buyers...... ok, .....show me the money:)

    I then signed a 3 day listing contract so he could show potential buyers, cash offer on the table that week

    I would never throw this out to lots of agents. This will have a negative impact on you.....just my opinion

    You work with the best selling agent in the area, shows you are genuine. Let him/her bring in prospective buyers

    Our friends did this, no contract, used good selling agent, they had 3 buyers come in over 6 months. Sold, excellent outcome in terms of sold price in a flat market