Hi all,
I am helping a friend who is overseas sell his 2BR apartment in Melbourne CBD.
I have been calling around quite a few real estate agents and they have quoted me 2.5 -3% (+ GST) for their commission. Advertising cost on the other hand have ranged from $1000 – $4000.
After getting a general idea of these fees, I rang and spoke to someone from the Neil Jenman group. I was advised that I shouldn’t put up with agents that charge advertising costs as this should be covered by their commission. In my friend’s case, the agents commission would be around $10,000, and adding advertising cost would be quite expensive.
Any advice on selling an off-the-plan apartment unit in Melbourne CBD would be much appreciated.eg Any recommendation for a realiable and trustworthy agent in the Melbourne area? Any tips on an efficient and effective sale strategy?
Any advice is welcomed, whether small or comprehensive. Thank you!!
Regards,
Jeremy
Certainly not a seller’s market for Melbourne units at the moment. Does your friend understand this?
I am aware of vendors selling new apartments in Melbourne and having them available for sale for moths with few offers and none near asking price.
I wouldn’t be putting too much effort into a Jenman Agent – most Agents are decent people and Neil Jenman uses people’s fears to direct them to the Agents that pay him to be part of his system.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
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0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Simon,
I have heard a few things about the Jenman system, both good and bad. I have read his book “Real Estate Mistakes”, and got a few tips out of it. I guess it really depends on the situation and where it is appropriate.
The reason he is selling is so that he can free up cash to purchase an apartment overseas, where he lives.
My concern is being charged too much for advertising costs, and not being able to sell the apartment. How much would you think is a good price to pay for advertising? Is it advisable to just advertise on the internet (realestate.com.au) to begin with, and be more aggressive with other forms (eg paper, magazine, flyers etc) later on?
Any feedback would be greatly appreciated
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