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Blog: Adventures in 'for sale by owner'

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Your Investment Property | 05 Nov 2012, 12:00 AM Agree 0
Well my property has now been on the market for 3 weeks and it's been very interesting to say the least.
  • Lisa H | 08 Nov 2012, 03:18 PM Agree 0
    With Realestate.com and Domain being the main websites that property buyers look at, yet these sites being restricted to real estate agents, would you please advise where you advertise your property?
  • Kevin | 12 Nov 2012, 11:10 AM Agree 0
    Hi Lisa,
    you are quite correct, if you are not listed on either Realestate.com or Domain then it's an uphill battle to sell your property. I just negotiated with real estates to partner them in selling my property. It took me a little while to find a Real Estate business willing to enter into the arragements but in the end I found someone. The deal is a 60/40 split where they get the 60% of standard REIQ commission. That's a 40% saving for me!
    I worked out a business plan in which I listed all the duties of selling a property (like photos, open house, follow up on leads etc) and assigned the tasks out so that I picked up a lot of their work. It hasn't been easy but in the end it will be well worth the savings!...
  • Arby | 15 Nov 2012, 12:50 AM Agree 1
    Stick with it - I sold my own property and was never sorry! It can take a lot longer than you think, but you will find the right buyer... just depends how long you can wait!
  • Mihali | 03 May 2013, 06:42 PM Agree 1
    We used the guys below, they were pretty good and pretty helpful
    forsaleforlease.com.au

    Here are some other tips that may help (coming from someone who has done it all before - a few times)

    List on realestate.com.au.
    Get on the phone as quickly as possible (get them while their hot)
    Put some effort into presentation.
    Get a professional photographer (or at least a photo editor to spruce up your photos)

    Good luck with selling privately.
  • Mark Schneider | 24 Nov 2014, 06:01 PM Agree 1
    There's some excellent advice for sellers who are keen to avoid the real estate agents' rip off commissions there Kevin. There are ways around the industry's supposed monopoly on the top real estate sites and I discuss them in my newly released book Dodging the Real Estate Rip Off.

    Good presentation is certainly one of the keys to successful selling, whether you're selling it yourself or going through an agent. The old real estate agent's dictum that homes sell when they're well priced, well presented and properly marketed is one that anyone selling their own home should adopt as their personal mantra.
  • Lisa B | 09 Dec 2014, 10:50 AM Agree 0
    Totally agree with you Mark. We sold our own home without using an agent and saved ourselves over $30,000 in commission and advertising fees. The positive experience was actually the catalyst for us starting up our own business, Your Hot Property. We wanted to help educate and assist other people who were wanting to do the same as we did and avoid all the ridiculous fees that go with selling a property.

    It's certainly a lot easier than people think. So many home owners are under the assumption that an agent is required if you want to get top dollar for your property (mostly because that's what agents tell them). As Mihali stated, put the effort in with presentation, photographs and follow up and you have just as good a chance of achieving a successful sale as any local agent.

    Now that home owners are able to access agent assisted services to market their property on-line (where over 90% of people are searching for their next home) using sites such as realestate.com.au, domain.com.au and homely.com.au there really isn't any logical reason to stick with the old model of selling through an agent (and paying them over 2% commission for the privilege).
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