Reasons to Sell Your Home Privately
If you’ve heard it once, you’ve heard it a thousand times – technology is changing the way we work, live, and communicate.
We get it, we’re flogging a dead horse but that doesn’t change the fact that it’s true.
The internet has made the process of selling products and services easier and more profitable than ever before. It has levelled the playing field and given control back to us ordinary folk – especially when it comes to selling our own belongings.
Think of companies like e-Bay, Gumtree, and Carsales.com.au. These online platforms allow us to sell everything from kitchen cutlery to vehicles all on our own. And you guessed it, selling a property is no different. In fact, a whopping 86% of potential buyers say they mainly use the internet to search for property.
What we’re trying to say is the world is your oyster.
So, why sell privately?
Ah! Where to start…
We get that selling your own house isn’t quite as simple as selling kitchen cutlery on Gumtree. You’re right, there’s a little more effort required. But, trust us when we say it’s not as tough as it seems. Plus, your hard work will certainly pay off once you’ve saved yourself $20,000 in the process.
Let’s say your property is worth $620,000. The average real estate agent charges 3.25% in commission fees, which includes a 2.25% commission plus 1% in marketing fees.
Doesn’t sound like much? Well, that’s $20,000 gone as fast as you can say “agent fees”. However, if you decided to sell your property yourself, you’d pay $0 commission. If anything, you’d pay yourself $20,000 for merely 14 hours of your time!
There’s More to Life Than Dollar Signs
It’s not just about the money, folks. Our vendors say one of the best things about selling privately, other than saving thousands of dollars, is the rewarding experience. They enjoy the transparency of taking complete control of their property and managing it as they see fit.
You’re a busy person, and that’s okay. We all are! But by taking the reins on selling your home, you decide how and when to sell your property.
Agents have multiple properties to manage at once. Being a private seller means you no longer have to work around their busy schedules. Weekdays don’t suit you? Host your Open for Inspections on the weekend. Have a sporadic schedule? Take inspections by appointment only.
Remove the Middleman
No one knows your property better than you. When you cut out the middle man, everything from answering questions about your home to reviewing and accepting offers becomes more efficient. If potential property buyers have questions you’re there to give them the answers. When someone makes an offer you have full transparency of the price negotiation process, no need to worry about an agent’s ulterior motives.
Receive the Same Advertising as Agents
Rumour has it you can’t list your property on Australia’s major real estate websites without an agent (well, it’s true to an extent). Those websites only accept listings from licensed real estate agencies. The beauty of selling through companies like buyMyplace is we use our Agent License to list your property on your behalf. This gives you the exact same advertising exposure as real estate agents. How good is that!
The Proof is in the Pudding
In our 2018 Customer Survey, our vendors told us:
-86% of customers received the price they expected
-82% of customers sold their properties in the time they expected
-99% of customers would recommend selling property privately to others
Meet John, he sold his property in Beaumaris, VIC within just three weeks of listing his property on the market. How good is that!
Click play to hear more from John about his experience selling privately.
The Instruction Manual
If you want all the nitty-gritty details of what’s entailed in selling privately, then visit our easy 7-Step Guide. But for now, here’s a quick overview of how it generally goes down.
When selling your house privately, you’ll have to decide how much help you need. No matter which private real estate company you sell with, there will be a range of packages with various degrees of professional help.
Take our campaigns at buyMyplace for example. All our campaigns give you the essentials, such as getting listed on all the major property portals and a ‘For Sale’ signboard. However, if you want your listing to stand out to potential buyers, our highest-level campaign gives you access to professional photographers, copywriters and an upgraded listing.
Once you’ve created your listing, done some research and set your sale price, you’ll be ready to put your property on the market.
When the right buyer comes along, you’ll negotiate the sale price, accept the offer, and pop open a bottle of bubbly because you’ll be the legend that just saved $20,000 by selling your property yourself. Congratulations to you!
Wrapping It Up
At the end of the day, the decision of whether to sell privately is yours to make.
With most private real estate companies, your property stays listed until sold or until you decide to withdraw from the market. So, if you try selling your property yourself and find that this process isn’t for you, the option to switch to an agent is always there. The way we see it, you have nothing to lose but everything to gain.
Sit down with your partner, do your research and evaluate your options – traditional agents, fixed fee agents, and private selling all included. The more you know, the more you’re empowered to do what’s best for you.