Selling your home privately is easy, legal and can save you thousands of dollars in agent commissions and advertising fees.
Benefits to selling your home privately
Technology makes it easy to sell privately
The internet has made selling easier and more profitable. It has enabled people to sell everything from small household items to cars and even boats. Selling your home privately online is no different.
Illustrating how home-buying has changed, 91 percent of property buyers search major online portals and websites like buyMyplace.com.au or by seeing a “for sale” board. The rest browse local newspapers or talk to friends and family. Increased access to professional tools and business methods puts the seller back in control. Traditional methods of selling are no longer the only way to approach significant transactions.
Now is the best time to sell privately
Demand for property in Australia has grown substantially. Properties are sold by owners in less than one or two days – without using real estate agents. There has been a proven push for vendors to sell privately and deal directly with potential buyers. If you are selling, consider doing it yourself – and save thousands.
It takes less than eight weeks to sell a property
Agents will generally tell you they will put your property through an intensive six to eight-week marketing campaign. The campaign will consist of placing the listing on major websites, some print-based advertising and a series of open inspections. The fees can be up to $6000 for medium-sized properties. Most people do not realise that the advertising fees have to be paid regardless of whether the property is sold or not.
An agent will suggest eight weeks to try to get maximum market exposure. Often, however, this has more to do with maintaining a certain number of listed when, in fact, it has more to do with the number of listed properties on their books. Open for inspections have to be shorter so they can fit them into their schedule.
When you sell privately you can either schedule your opens on demand or extend your open to half or full days. As such, there is more scope for potential buyers to view your home, therefore increasing the chances of a quick sale. Dealing directly with the buyer removes the middleman (the agent) and expedites the process.
Would you pay someone around $15,000 to sell your property?
This may be the case, if you use a real estate agent. It is not too hard to work out how much time an agent spends on your property. Over an eight-week campaign they may hold six open inspections, each about 20 to 30 minutes = 3 hours. Over that same period, they may spend an additional five hours talking to prospective buyers and another two hours for miscellaneous tasks. These tasks total approximately 10 hours, just over a day’s work. For this, you pay them $15,000, which works out to $1500 per hour. Ouch!
When you sell your home privately you are not paying anyone a rate of $15,000 a day to sell anything. The benefits of selling privately far outweigh any limitations (of which there are few if any).
Some agent stories you should read
A recent segment on Today Tonight says it all. See segment here.
To sell privately has never been easier or risk free. Why wait? Call us today on 1300 289 697.
** Important information: Full Service Campaign
buyMyplace is acting as a commission free, licensed real estate company who will arrange for additional exposure as part of our Full Service campaign.
In order to comply with these site’s Terms and Conditions, all purchasers of the Full Service campaign will need to complete our compliance pack brought to you by buyMyplace, simply authorizing the licensed agent to offer the property for sale and understand that no vendor contact details can be visible on these third party websites.
Please note, by agreeing to these terms & conditions, no further costs will be payable to buyMyplace other than the agreed campaign cost and renewal fee.