It’s never been simpler to get your own realtor.
There are actually a minimum of a dozen websites that let you sell your house yourself, with fees a very small fraction of the commissions charged by real estate auctions online.
Marina Tretiach recently sold her house in Sydney’s Lane Cove through ForSaleByOwner.com.au, saving thousands of dollars in agent’s fees.
The laboratory manager was thinking about buying another house outside Sydney for more than a year along with attended many auctions.
“I was thinking to myself which i can do all the stuff that agents do,” Marina says. “I am really informed about the area and i also understand the house and so i was positive that I really could do as good work because they could do.”
Marina found the method easy, the web site providing a relevant video tutorial on where to start.
The websites look like broadly similar with their approach. They have a basic marketing package where online ads are placed on leading real estate websites as well about the sites themselves.
The vendor can also add further services and products, for instance a “available for sale” sign to the front of the property and brochures.
Although all properties are listed with prices, the seller can opt to see auction where website can supply an auctioneer for a day.
The owner decides if they should have open houses or if you should have private viewings, the owner handing all of the inquiries themselves.
Marina sold her house for the selling price within 3 weeks of listing.
Her open houses were well attended only one day she received a telephone call from somebody who had seen the for-sale sign and desired to start to see the house privately. He was the eventual buyer.
Paul Heath, the chief executive of BuyMyPlace.com.au, says by selling their properties themselves vendors could save big money in commissions and marketing costs.
Applying an average commission of 2.25 per cent on the median Sydney house price equates to your saving of $24,000.
Also, there are a few savings on the typical marketing expenses of approximately 1 per cent, he says.
Heath says private vendors most often get appraisals off their local real estate professionals and go to a lot of auctions and look at what similar properties are fetching.
Colin Sacks, chief executive of ForSaleByOwner, says private vendors need proper support.
“It’s a very important factor to never utilize an agent but another never to work with an agent and to do it well,” he says. “A real estate agent does bring certain skills to the table so the real question is whether we are able to bring those skills together in an online environment. We provide vendors by using a ‘dashboard’ where they will likely see all the inquiries and dexkpky60 people are considering their ads in Domain.com.au and Realestate.com.au and also other sites.”
Sacks says most people using his site are paying about $1000, which include a for-sale board for your front of your property.
Real estate professionals are sceptical of claims created by websites that private vendors are routinely achieving higher prices than once they had used an agent.
Michael Harris, the director of Raine & Horne in Sydney’s Newton, has been selling property for 17 years.
“The Things I am today is not a few things i was after i were only available in real estate, that is what your average mum and dad will probably be like,” Harris says. “People will not realise the volume of work that you have to do to sell a home.”
Realtor Trudy Biggin, of Biggin & Scott in Melbourne’s Brighton, says a good agent can advise regarding how your property should be given to create that “wow” factor.
She says one of the many skills of your good agent is in negotiating with a potential buyer to be able to attain the best price to the vendor.
“Once you learn that someone really likes your home, the skill is to ensure they are centered on that house and also to pay reduced price,” she says.
Sam Lally, a buyer’s agent at Buyer’s Advocate Australia in Melbourne’s Hawthorn, agrees.
Lally sold real estate property before switching to helping buyers and he says you must know how to speak with possible buyers, what information to get from their store and how to qualify them.
Within his role like a buyer’s agent, Lally “loves” coping with vendors directly.
“Some people think their skills in their professional regions of expertise are transferable to property negotiations,” he says.
“Private vendors are usually no match for experienced property negotiators, like buyer’s advocates or agents.
“Vendors who use good agents have an improved chance to getting a better price with regard to their property.”