Want to sell privately

I Know of http://www.housemart.net.au there are several others in WA..maybe we need a list started of those available in different states..

As for selling yourself..i’m all for it[thumbsupanim]

It’s not rocket science and the savings you put in your pocket can be immense..

REDWING

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Hi,
I’m curretly selling a property myself. I’m using http://www.DIYSell.com.au and odly enough eBay.com.au

Within a couple of hours of listing on eBay I got 2 enquiries. I’ve now sent out a number of contracts (and section 32) to interested parties. Contracts are going to people who enquired through DIYSell and eBay. DIYSell costs $100 and eBay costs I think $70 (or there abouts).

The eBay auction doesn’t form a contract of sale, it’s just a form of advertising, but it’s a handy place to go.

I’m actually in the process of putting together a web application you can use to list property, include inspection reports, titles, permits and so on. Also photo’s and links to other gov sites and stuff so you can list your house and provide electronic copies of allt he required doco. I’ve spent so much money in title searches, print and mail I just think it could be cheaper.

Hi Leanne,
I sold our house by myself.It was a few years ago but the principal would be the same. I took some photos and made up my own promotional flyer. I placed this on local shopping centre bulliten boards. I advertised in the local paper and the leading Saturday paper. I created a register page where I took down the details of any person who was interested in the property. This enabled me to say to an agent if I decided to list with them later that the person had seen the property previously and therefore I will not be paying them a commission. I also got legal information from Legal Aid which cost around $30 or so. I have found http://www.owner.com.au to be very useful even if just to read how to go about things.I suggest getting onto each website and see what is selling in your area with those sites.
Good luck and yes it is a great buzz to know you did it and wonderful to pocket the full price!

Hi Leanne,

I’ve sold 2 properties myself and think it’s not hard at all, but you do need to have the right approach and the right personality.

I found a good conveyancer, who drew up the contract and – when it came to the sale – guided both myself and the buyers through the process.

I advertised in both the main city paper and the local area rag (it’s called The Messenger here in Adelaide).

There’s plenty of good info around about making sure you present your property well. And you should present yourself well too.

I had the floorplan drawn up, had a sign made for out the front. All pretty easy stuff. I think the place where agents often earn their money over private sellers is at the negotiation stage. I think some private sellers lack the skills here and either lose a sale or sell too low. So I advise you to try to get some advice, perhaps read something about “bringing in the deal” so that you don’t make mistakes.

If you’ve done your research and therefore come up with a realistic price, you should be confident to stick to what you want (of-course, your asking price needs some room for negotiation but don’t lower too quickly or you’llhave possible buyers thinking your real price is much lower that what you’re asking).

I’ve saved myself thousands selling myself, and I’ve got as much as the agents said they could have got for me without having to pay their commission or exorbitant advertising costs.

And, contrary to what some agents will have us believe, I haven’t found people to be reluctant to negotiate with me as a private seller. Perhaps because I make it clear I have no emotional attachment to the property so they can run it down to me as much as they like as they try to get a lower price. It’s all part of the game.

all the best,
Carlin

Everyone I have known who was going to sell their house privately eventually went to an agent. I have seen houses sit for ever and not be sold. The market is slowing I think you should use the people that people go to when they want to buy a house.

I guess it partly depends on who you are trying to sell it to as to where you advertise it.

The majority of people looking to buy will either go through agents or look online via one of the big property websites http://www.domain.com.au and property.com.au. Locals may notice a place is for sale by the for sale sign out the front.

If seeking property investors, maybe find out how much it costs for minimum space advertising in Property Investor magazine. Seeing you’re not a commercial entity, they may offer you a large discount. I used to work for a specialist magazine, and sometimes we’d give discounts of up to 65% if the person was a good enough negotiator.

You may be able to cut your costs further if you find another seller interested in going halves on the space with you.

Hi Leanne,
You’ve probably already considered this, though it is amazing how often it is overlooked. Have you offered the property to your tenant? We’re currently selling a property to our tenant, and I know of other tenants who have bought the house they live in. Maybe you have the makings of a wrap, or if not, at least an immediate sale without the costs of advertising and chasing buyers. Selling to your tenant means you can often be quite flexible in the way you structure settlement, etc.
Good luck
Jenny

Hi Leanne, I recently sold our house ourselves in tasmania. It sold after just 2 adds in the local paper – Sat classifieds. There were alot of houses on the market at the time, with seemingly quite a few buyers however they weren’t selling fast (like the previous few years) people were taking their time to decide. So after 2 weeks needless to say we were very happy and we got a good fair price we were happy with. The way I looked at it was that we could price it competitively to match the market but had an extra potential $9k (agents fee) to negotiate with. If an agent sold it there was no guarantee that they would get the asking price then we would have to negotiate down anyway except then have to pay the $9K as well! You need to do your homework in your area to a) see where people are advertising and of course as it is an investment property that may be a little diff from if it was a home (know your market) b) go to open homes to have a look at similar properties in the area to /get several agents to give their opinion then after doing your research you can arrive at a fair price.

When you look at how much you save ($5-$10K) then it’s worth the time. I was little uncomfortable and nervous taking first few calls but had a list of questions to sift through so I wasn’t just showing everyone thru and after a few times got the hang of it. Also Neil Jenman puts out a sml booklet that one of the agents gave me (I told them I was most likely going to sell it myself but just looking at the options) it was about selling & buying without agents and had the questions you can ask. Was very helpful.

As I said know your market (and it may or may not just be other investors!) then market your property accordingly. Do up a flier with all the extra details that add value to the property but often is not considered at first glance (ie new heat pump, wiring, insulation etc).

Also they say the first few weeks is the most hot time in selling – many make the mistake of not adjusting their tactics,price etc after the property hasn’t sold in 4 weeks etc. then property can go stale. Adjust while the interest is still there, get feedback etc.

All the best. I’m looking forward to doing the same again. tho it’s not of course for everyone.

Another site I found is zeroagents.com.au. I think this is a QLD based company but has listings in other states aswell.

I haven’t used it but might be worth a look.

Tara.