One of the things that comes up very often is the cost of advertising your property for sale with an agent.
This thread is directed more at the newbs.
How much should you spend on advertising your property?
Here's my take, and to qualify my view, I can say that I have been involved in over a dozen transactions, and have made some mistakes that you learn from. I've even sold my properties myself. This is not fun, because every second phone call is an agent trying to get your listing and promising you a great service.
I was an agent for a time, and most people enquired about buying a property and had already seen a few on the net, in the window and in the paper that they were interested in. They were already looking. The rest - I showed 'em.
OR, they had seen none at all, and wanted to see what we had.
Unfortunately mistakes are always expensive, so I'll try to save you guys a few bob.....
YOU DO NOT NEED TO SPEND ANY MONEY ON ADVERTISING TO SELL YOUR PROPERTY.
Now, the agents will chime in here and strongly disagree, and probably some SS posters.
Of course the agents will; they have a vested interest.
I don't. I'm here purely to discuss property and to help others where possible. Yeah, yeah; I'm a bloody great bloke.
But think about this; every single day, every single agent already has probably half a dozen properties advertised in the various papers and on the internet, as well as their signs out the front of the property in their area.
The buyers are already looking.
They are looking in the r/e's windows, trawling the streets looking at the various signs, the streetscapes, the property types - researching their chosen area.
If they aren't; they are on the net, looking in the papers, but probably all of the above.
So, in order for them to see your property, all you need is:-
1. a photo in the r/e's window (which the buyers will be looking in)
2. flyers in the reception for buyers to look at - with the address on.
3. a few photos and a nicely worded blurb on the net.
4. forget the papers - other Vendors have been sucked in and are paying all the advertising for you.
5. forget auctions unless you have a very unique property that is very desirable and there is lots of interest.
So how much does all this cost?
1. If you are resourceful, you can do your own flyers for less than $100, and most likely as good as or better than the agent can do.
2.The agent will pay for the sign - their name is plastered all over it, so let them cover it.
3. The cost of putting your property on their net listings is maybe $20.
4. Forget the papers; there are already a million other Vendors advertising. All you need is a 2 line ad with the important details, or don't even bother.
5. Auctions will always produce a result eventually, but many are not on the day. So, they are not really auctions in this case, they are a private sale, and the auction costs YOU around $1k.
How much have you spent?
Total; $120 maximum, and you WILL sell it if the price is right.
You are better off to spend $350 on a qualified valuer to tell you what to expect. They are the experts, and will tell you honestly what your property is worth.
Or, do your own DD on the area and learn the values.
This thread is directed more at the newbs.
How much should you spend on advertising your property?
Here's my take, and to qualify my view, I can say that I have been involved in over a dozen transactions, and have made some mistakes that you learn from. I've even sold my properties myself. This is not fun, because every second phone call is an agent trying to get your listing and promising you a great service.
I was an agent for a time, and most people enquired about buying a property and had already seen a few on the net, in the window and in the paper that they were interested in. They were already looking. The rest - I showed 'em.
OR, they had seen none at all, and wanted to see what we had.
Unfortunately mistakes are always expensive, so I'll try to save you guys a few bob.....
YOU DO NOT NEED TO SPEND ANY MONEY ON ADVERTISING TO SELL YOUR PROPERTY.
Now, the agents will chime in here and strongly disagree, and probably some SS posters.
Of course the agents will; they have a vested interest.
I don't. I'm here purely to discuss property and to help others where possible. Yeah, yeah; I'm a bloody great bloke.
But think about this; every single day, every single agent already has probably half a dozen properties advertised in the various papers and on the internet, as well as their signs out the front of the property in their area.
The buyers are already looking.
They are looking in the r/e's windows, trawling the streets looking at the various signs, the streetscapes, the property types - researching their chosen area.
If they aren't; they are on the net, looking in the papers, but probably all of the above.
So, in order for them to see your property, all you need is:-
1. a photo in the r/e's window (which the buyers will be looking in)
2. flyers in the reception for buyers to look at - with the address on.
3. a few photos and a nicely worded blurb on the net.
4. forget the papers - other Vendors have been sucked in and are paying all the advertising for you.
5. forget auctions unless you have a very unique property that is very desirable and there is lots of interest.
So how much does all this cost?
1. If you are resourceful, you can do your own flyers for less than $100, and most likely as good as or better than the agent can do.
2.The agent will pay for the sign - their name is plastered all over it, so let them cover it.
3. The cost of putting your property on their net listings is maybe $20.
4. Forget the papers; there are already a million other Vendors advertising. All you need is a 2 line ad with the important details, or don't even bother.
5. Auctions will always produce a result eventually, but many are not on the day. So, they are not really auctions in this case, they are a private sale, and the auction costs YOU around $1k.
How much have you spent?
Total; $120 maximum, and you WILL sell it if the price is right.
You are better off to spend $350 on a qualified valuer to tell you what to expect. They are the experts, and will tell you honestly what your property is worth.
Or, do your own DD on the area and learn the values.
