Selling a very big land

I am approaching agent for selling a big land of 1600m2 in Nunawading. Hocking Stuart asks a commission fee 1.7% and marketing fee about $5000. is this a reasonalle price? Anyone recomm any cheaper and good service agent?
 
I have not signed contract with agent until this Saturday. I wonder if any developers are interested in a big land of 1600m2 with an existing BV house. If you are interested, just contact me, I will give you more details about the this property.
 
I wonder if any developers are interested in a big land of 1600m2 with an existing BV house. If you are interested, just contact me, I will give you more details about the this property.


Sounds like you are 70% of the way to not needing an agent at all....unless of course the agent can miraculously obtain 300K more for the proper than yourself, which they always can. ;)
 
...unless of course the agent can miraculously obtain 300K more for the proper than yourself, which they always can. ;)

until the actual point of sale, in which case you'll have to accept $100k under fair market value because "the market has moved" or some other ***** ....
 
..commission fee 1.7% and marketing fee about $5000. is this a reasonalle price?

I think the fees are exceptional high considering there are lots of buyers and next to nothing to buy. Any property with potential would sell by itself at ease.

Can you set a high price, eg. 1.6m, and ask an agent to find a buyer for it?

Can you ask for no Gst on commission (ie. Agent to absorb it) and minimal advertising (ie. Internet and window leaflet only)?

:)
 
That marketing fee is ridiculously high. Tell them to do the marketing at their own expense, and if it doesn't sell then they obviously did a bad job. They aren't marketing your house, they are marketing themselves at your expense.

I've never paid an agent a dime, hang on, wrong country, a 10 cent piece, before the property sold.
 
I am approaching agent for selling a big land of 1600m2 in Nunawading. Hocking Stuart asks a commission fee 1.7% and marketing fee about $5000. is this a reasonalle price? Anyone recomm any cheaper and good service agent?

I'm a bit out of touch, but the commission sounds reasonable, and the marketing sounds high.
Is it a viable development site - flat, cleared etc? Does the zoning allow development?
We sold our first PPOR as a development site. When we discussed with RE agents, they had a list of likely purchasers, and weren't even planning on advertising. (In the end, we sold to our neighbour, so they could do the devp themselves)
My inlaws have been in the same position... the property was not advertised.
My friends have also just sold their house for development, and they were contacted directly by the developer.
If it were me, I would look to see which building companies tend to do developments in your area and approach them directly. Also, try to find an environmental lawyer, who assists with DA applications in the local council. They will have contacts of developers.
Pen
 
commisions sounds quite reasonable most agents charge 5% for the first 18000 then 2.5% thereafter however 5k marketing sounds absurd

it cost me $90 for a featured listing rest of the markitng window and re.com

is free
 
Echo some sentiments above. Marketing sounds high to me. Commission is OK considering stuff's vapourising in Melbourne.

I am assuming it's a development site (with or without planning permits) so you can list here yourself:

http://millarslist.com/

Also use Domain yourself.

Assuming you're not in a ahurry, in this market, that's a splendid piece of dirt, that should sell itself.

Assuming you haven't got planning permits or a DA approved, have you done any preliminary investigations with council as to what may be achieved there and minmum lot size?

This info will be necessary to promote the land in it's best light.
 
SIL just negotiated 1.5% selling commission on her house with well known agent. I was stunned they accepted, but went $70k at auction over what Jenman were trying to force her to accept, so they still put their all in for her
 
Hi Evisional,

You sound pretty motivated to me.
Why don't you just do drive by all the development sites in Nunawading.
Take down the names of the companies and give them a call?
See if they're interested.
And then you can negotiate the sale yourself.

Otherwise the fees quoted sound about right for an agent's assistance.

Good luck!

Medine
 
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