Private Sale

[LearningMan]

Anyone had any experience selling an IP privately in Sydney ? If so are you able to comment on success ?

In times like these I don't particularly feel like handing over 2% profit to a REA.

 

[boomtown]

You could try posting your IP in caveat emptor?

 

[marg4000]

I would think it would be like any private sale.

There are companies that assist owners to sell properties privately, names elude me at the moment but I believe some provide websites, signage etc.

Or if you have a friendly RE agent, maybe he/she will list it on realestate.com.au with your private details attached. I've seen this quite often. We inspected a property last year where the owner was selling privately, he was an ex RE agent and had it listed on realestate.com.au with his private mobile number.
Marg

 

[kissfan]

There are companies that assist owners to sell properties privately, names elude me at the moment but I believe some provide websites, signage etc.

Was reading in todays paper of a company called Red Direct that do this (in Sydney).

Wouldn't have a clue how good or bad they may be. Their prices range from $1250 to $4500 depending on what you want.

May be worth you (LM) checking them out.

Regards
Marty

** The usual disclaimer, i.e, I am in no way associated with this mob, just passing on info**

 

[pennyk]

Anyone had any experience selling an IP privately in Sydney ? If so are you able to comment on success ?

In times like these I don't particularly feel like handing over 2% profit to a REA.

I would view it the opposite way... these are the times where 2% is not much to pay to get a sale at a reasonable price.
In the boom times, anyone can sell a house, but in leaner times you need more contacts and more skill.

Pen

 

[BV]

LearningMan

If you live in the same area and you have time it's worth a try.

Jacque sold her PPOR privately and explains the steps here

http://www.invested.com.au/6/privately-selling-19021/

cheers

 

[james_w]

Anyone had any experience selling an IP privately in Sydney ? If so are you able to comment on success ?

In times like these I don't particularly feel like handing over 2% profit to a REA.

hi here are three I believe no agents also list in newspapers oztion for you etc

http://www.PrivateSale.com.au


http://www.noagentproperty.com.au

www.dwelling.com.au

http://www.yourestate.com.au

I sold my last flipped house in 2weeks using no agents and the trading post

was in fhb buyers range though

 

[Angelissa]

I sold a small IP close to the CBD last year privately. It took me about 4 weeks and although it was quite a stressful time for me, I'm glad I didn't end up using an agent.

I had calls from people who were only available at specific times so I kept having to rush over from work to show people the property. I also got questions like "how much did you buy it for?" which an agent would be able to get away with not answering.

I made a brochure similar to what agents give out and drew a floorplan from Visio on the back. I also bought a folder and had that as an "open inspection" sign out the front as well as taped instructions like "buzz unit 14" on the door.

 

[Gatoblanco]

I sold a unit in Cairns privately.
I got around about 10 REAs to appraise the property. There was quite an amount of variation in their appraisals. But it gave me a good idea of a price to advertise.
The agents also helped me with tips about how to present the property i.e. put a bigger mirror in the bathroom (really made a difference).
I then told them after their appraisal that I would be trying to sell privately first but if I couldn't then I may use them.
I ended up selling it to a woman who was working in a job I was in temporarily. I was telling everybody I had a unit for sale. I had 2 workmates from another job interested too.

The way I see it is you have nothing to lose by selling privately. So give it a go.
If you are in a hurry an agent could be useful. But if you have time then you can do it yourself.
Also some people may be attracted to a private sale because they dont trust agents. Also if you use an agent remember it is in their best interests to sell the property. Although they are supposed to act in your best interest, they want the sale asap so they can move onto the next one. That is the rule in all types of sales work.