Hi,
I have a few investment properties and 3 of them are blocks of land so I am thinking of just selling them myself.
Anyone done this?
any tips?
found a few websites that offer this service...
http:
www.NoAgentsHere.com.au
and this one...
http:
www.noagentproperty.com.au
anyone used these before?
first one looks good as they are cheap and get on real estate dot com
cheers
Hi Mickstar,
Your sure can do this yourself, but there are number of things you need to be aware of and think about before going at it yourself.
1. Make sure your prepared before you begin.
a. get all the legal documents ready for each of your properties
b. make sure you know the value of each of your properties, including the value of your land. You can do this yourself, but will take alot of your time, comparing properties that are similar to yours, or you can hire an independent valuer, that can show you properties that were similar to yours that have sold.
Getting the price wrong will either make your property stagnate for a long time, or be purchased at a bargain price. You need to get the best possible price in the shortest period of time.
c. Can you improve the properties. ie painting, cleaning up etc. This will make a whole lot of difference
2. Know what you want to get out of the deal
When buyers will be looking at your property, they will no doubt negotiate with you. The big ones are price and settlement date.
Know before hand when you would like to settle and your absolute longest settlement date. This goes the same for price, know the absolute minimum reserve price, and this of course should be based on the market value of your properties.
3. On Marketing.
The more people know about your property the better.
Use the big sites if you can get in. I know you can list in domain.com.au for a few hundred dollars. Also list on other property portals, like gumtree, that's free, why not list there as well.
If people visit the site, then your property should be listed there as well.
The other point is also take a few lines in the major newspapers, it is a little more expensive but you'll be surprised. People do read the Saturday newspapers still. Also put a link in the paper to refer to your listing in the internet for more information.
4. Listing your property
Write as much about your property as you can, and utilise to the as much photos as you can. The more information you can give out, the easier it will be to sell your property.
Show prospective buyers why is it worth that much money!
5. Always refer to your solicitor and/or accountant if in doubt
If you have any questions, or unsure of anything always ask your solicitor or accountant. Don't assume its a silly question or it will be alright...
6. Bonus Tip
As a bonus, if your property is well taken care of, and you know its structurally sound, why not hire an independent building inspector. Sure it will cost you a few hundred dollars, but imagine showing every one that enquires that, the property is sound, and here is an independent building report.
The buyers will love it, and they will have one less hesitation about your property. Again one step closer to a sale...
In any case, anyone can sell their property themselves. But it will take a lot more work from you, than using an agent.
- Answering phone calls
- open inspections
- negotiations etc...
Above are just some of the main points to think about, there are of course alot more...
Good Luck, whatever decision you make!
