How do i go about selling to a real estate agent? Are they still entiled to their commission, ect? If that is the case, i could just reduce the sale price, say no commissions. Less tax and everyone is happy???
Are my selling costs reduced in anyway? Is there anything that i have to be extra cautious of in this situation?
Its in QLD if that helps.I would suggest if the real estate agent is interested in buying the place it must be under priced.
maybe, its been on the market for a h3ll of a long time, i am just happy to get rid of it, as the interest only loan was burning me.
If i get all of the asking price and he takes no commission i would be happy with that amount.
It has to be a good deal for both parties.Take it off the market for a couple of weeks then relist it yourself in the paper.
Often people pass over properties that have been advertised for too long.
It also becomes a hard sale for the REA so they tend not to try too hard after that. It is after all still advertising their business so long as it has a sign out the front.
Where abouts is the property if I may ask ? what price range
SEQ,
I wanted 300, reduced to 270 after no offers for a year, sat for another 7 months, then the agent decides they want it.
You may say this is low for the SEQ Average, but it is a fair price in the location and current HL% rate ATM.**Is there a way i can put a clause in the contract that they cant resell the property for a certian amount of time, and if they do i get the profits. How would i even be able to monitor or control this??? Because they may turn around and relist it and actually make 30-40k if they have a buyer wanting to pay more, maybe they are trying to do me out of a deal.
Kind of not sure if this is a geniune deal?
You could put a clause in the contract to that effect but I doubt that anyone would sign it. What if the purchaser has a bona fide reason that they need to sell it?
The REA has a duty to you, as vendor, to get you the best price possible. If the agent purchases it undervalued (and the price is based on the price he has recommended) and he then immediately sells it for a higher price, he has breached his duties and you could report him to the institute that governs REA in Queensland.
The best way to avoid getting ripped off is to get the place valued by an independent valuer. It will cost you about $500 but will save you thousands.
Good luck
K
Definitely agree with linar. Have you spoken to other REA about your property ? I can't imagine why it would take 7mths to sell unless they are not doing their job properly or its just too expensive!
I may be looking at purchasing can you forward me the details? Maybe you can drop the agent and we can sell privately and we can halve the sale cost off the price?
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