All Topics / General Property / Selling your own property – Pros / Cons

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  • Profile photo of oasis60oasis60
    Participant
    @oasis60
    Join Date: 2009
    Post Count: 1
    June 21, 2017 - 7:33 pm

    Hi All

    I’d appreciate any feedback, thoughts or suggestions with regards to selling your own property without the use of an agent. This is not necessarily a measure to save on marketing and commission fees but I would like to know if anyone can share the pro’s and cons of doing such a thing.

    I have been able to manage to secure a long term tenant (fully furnished) for a 1 bedroom unit in Burleigh Heads where property managers were suggesting $440 to $460. I understand that they have to many units and houses on their books to focus on any one place and got to thinking that they may also not have the time to sell with patience and the ultimate goal of the largest return. I hope this doesn’t come across as synical but now that we can directly advertise on realestate.com.au directly, it’s been a thought that crossed my mind.

    Thanks in advance for any feedback.

    Jason

    Profile photo of Ethan TimorEthan Timor
    Participant
    @ethantimor
    Join Date: 2016
    Post Count: 282
    June 22, 2017 - 6:50 pm

    Hi Jason,

    Sold several of my properties directly so got some insights to share 😎

    First of all, do you have sales experiance? Generally speaking, nothing sells itself.

    Secondly, are you sure your price expectations are on point?

    Of the top of my head:

    Pros:
    You save the agent fees
    You get to meet potential buyers and get a good feel of the market

    Cons:
    You need to organise the photos and a good agency to list through on the real estate listing websites
    Feels to me that some buyers are not a fan of meeting the vendor, they maybe feel more comfortable dealing with agents, the old fashion way?
    It takes time to deal with the enquiries, the inspections and the open homes

    Hope this helps? 👍😎

    Cheers,
    Ethan

    Ethan Timor | Aligned Finance Pty Ltd
    http://www.alignedfinance.com.au/
    Email Me | Phone Me

    Active Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)

    Profile photo of JaxonJaxon
    Participant
    @jaxona
    Join Date: 2014
    Post Count: 284
    June 27, 2017 - 1:15 am

    Ethan made some good points to add on Jason.

    Pros
    you do it correct once, you can save and save again

    Cons
    Savy buyers can change the contract without you realising (adding/changing/etc)
    time consuming and really you need to know a fair bit to do this safely
    you need to have a Solicitor who is happy for this (most will be)

    Mate if your willing to oversea it all and take that risk go for it, If you dont want to deal with the extra stress etc than look at something like purple bricks with a set fee. or bargin prices w agents.

    Ps. must be a nice 1b, I got a 2b2b at treetops that rents for only a little bit more.

    Jaxon | Jaxon Avery – Financial Adviser
    http://www.jpafinancialservices.com.au
    Email Me | Phone Me

    JPA Financial Services Pty Ltd

Viewing 3 posts - 1 through 3 (of 3 total)

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