Selling house privately?

Has anyone sold there house themselves- no estate agent just a conveyance? We bought privately & I'm thinking of doing it just after some advice....

I haven't but know a mate who had to sell in the last few years. If he had had the choice (divorce situation), he would do it privately. In the internet age, I'm not sure what value the RE actually adds. The RE was urging him to sell for c. $1.42m, he managed to push back to eventually get $1.52m. $2k in extra commission isn't a lot for the RE but $100k is a lot for him & his ex. He just didn't think that the RE added $30k of value for their services.

It's easy to research the market to see what comparable properties are selling for (need to be honest with yourself though).

Easy to take photos (or get professional photos done)

Easy to advertise online and easy to show the house.

Probably depends on your own level of self-confidence, ability to treat it as a pure financial transaction (separate emotional attachments) and negotiation skills.

I haven't but know a mate who had to sell in the last few years. If he had had the choice (divorce situation), he would do it privately. In the internet age, I'm not sure what value the RE actually adds. The RE was urging him to sell for c. $1.42m, he managed to push back to eventually get $1.52m. $2k in extra commission isn't a lot for the RE but $100k is a lot for him & his ex. He just didn't think that the RE added $30k of value for their services.

 

It's easy to research the market to see what comparable properties are selling for (need to be honest with yourself though).

Easy to take photos (or get professional photos done)

Easy to advertise online and easy to show the house.

 

Probably depends on your own level of self-confidence, ability to treat it as a pure financial transaction (separate emotional attachments) and negotiation skills.

Thanks for reply. Yes we've had two separate RE out &both have valued house,( we only bought about 18 months ago)

I'm fairly confident with it &I'm thinking honestly what is the 2.2 commission for? We pay market &advertising costs on top of this so why not have a go ourselves? Also been looking at "for sale by owner" website which includes for sale sign &advert on real estate etc. Seriously thinking of going that way.

Have a go so. Only been there 18 months probably makes it easier as there is unlikely to be an emotional attachment to the property, pls you know what you paid for it not too long ago.

1 tip may be to do open houses on a Sunday (as well as maybe a Tue/Wed evening). Most open houses are Sat so if you are Sun you should have the market to yourself to get more people through the door. The more photos the better online.

Can I ask where you are and what you think the value of the property is (& hence the 2.2% commission)? How come you are selling so soon?

Thanks for the tips. We're in Adelaide , house around the 350,000 mark. Selling as moving back to family.

Has anyone sold there house themselves- no estate agent just a conveyance? We bought privately & I'm thinking of doing it just after some advice....

we have done it ourselves ( 2004) and found it quite enjoyable. As long as you have a realistic price you will get interest. You should be able to get contracts from whoever you use as a settlement agent. If you feel you have the energy then give it try. Print up some a4 size flyers for viewers to take away with them and make up some little home open signs and place them on streets around your house and have your home opens around the same time as other home opens.

You could also look at http://www.purplebricks.com.au who charge a set fee but do the photos, internet listings, floorplans etc for you. That could be the happy medium

So you are looking at paying the agent about $8k give or take. So really what you are adding up is do they add $8k worth of value to the process? Is it worth that to save you the hassle of doing it yourself? It will depend on how time rich you are, if you have the time and don't see it as a hassle, you may enjoy the experience. Nobody is going to try harder than you are to get the best price.