Hi All,
Quick Q…I'm listing my first sub-divided block of land for sale, I'm only giving it a month in the Market to see if it will sell (to get some quick cash back in) if it doesn't i'll be building on it.
Issue is, the agent is keen on me paying the $350 for advertising/marketing. In my opinion this isn't worth it. The chance of it selling is minimal, plus it's seems a lot to fork out for only a month max of 'air time'…
Additionally, I was under the impression that agents paid a monthly/annual fee to list as many properties as possible on realestate.com.au…Can anyone confirm this ??
Cheers,
Darren
(PS – if you're interested in a Battle Axe Block, 422sqm, 1.8kms from Ipswich CBD, levelled with all services and driveway provided, great location, all amenities within walking distance – then please PM me)
I'd say that this is a pretty reasonable marketing budget Darren. Has your agent outlined what this will include? Internet subscription? An ad in the land section of your local paper? Brochures etc?
Agents do generally pay an annual subscription fee to list properties on realestate.com.au. So a good portion of that $350.00 is probably allocated to listing your block on the internet!
If you are serious about getting your block of land sold, $350.00 is a small amount to pay in the grand scheme of things…. Having said that it all depends what you are getting for your money!
Good luck with the sale!
Cheers
Thanks YI
It’s only goin to be listed for a month, that’s why I’m relucant to pay, but I certainly can see the benefit as yes it will be listed in local rags and on the net.
And $350 is small coin when you consider the sale price.
Just figured it was a cost he agents wore to get your business.
Cheers
Darren
Can’t you make paying the advertising costs payable on sale of the property?
I can, and yes if it sells that's what will happen…
Problem is, if it doesn't sell then I still pay…and if I don't pay, there's a high chance that he's not going to push as hard to turn over the land…there's also less exposure in the market…So given I want it sold, i'll be paying the fees…
Just something I never considered…this is my first sale and I didn't think this was an expense of the Vendor…
Cheers,
Darren
Sounds reasonable Darren. I just sold a place with internet advertising only (no board, no newspapers) and it cost not much more than $350 after photos and a floor plan. Was well worth it and will be claimable as an exit cost to offset CGT.
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