Selling fees

[KoopaTroopa]

Hi All!

I was thinking of selling an IP in Taylor's Lakes, VIC and was wondering if anyone had any recommendations of selling agents that get better prices for their vendors?

Is it better to go with the same agency managing our property?

Is 2.5% of the sale price "high", or "fair", or "low"?

Anyone got any tips as to how to negotiate lower fees/commissions from the selling agents?

Thanks in advance guys!

 

[DJBarnstar]

I would get 3 agents through and choose the most professional and active in the area at a 'fair' commission and realistic appraisal, rather than just approaching your managing agent.

You want an agent that is hungry to sell it.... These jokers that charge $5950are in no way going to be motivated to sell your home after the first month, they will move onto something more saleable to make a quid.

2.5% is fair and reasnoble. How much is it worth do you think?

 

[KoopaTroopa]

I would get 3 agents through and choose the most professional and active in the area at a 'fair' commission and realistic appraisal, rather than just approaching your managing agent.

It will be difficult to do this because there are tenants in there now so it would be hard to organise time to get 3 separate agents through the property.

This was sort of why we were leaning towards using the same agency because they already have a rapport with the tenants and can work with them to co-operate with the sale.

You want an agent that is hungry to sell it.... These jokers that charge $5950are in no way going to be motivated to sell your home after the first month, they will move onto something more saleable to make a quid.

Obviously I agree with this!

2.5% is fair and reasnoble. How much is it worth do you think?

I think a reasonable sale price would be high 390s/400s...

 

[sanj]

if you think getting 3 agents through is too much of an imposition on the tenants what will the regular inspections and home opens be like?

 

[eKwatee]

It will be difficult to do this because there are tenants in there now so it would be hard to organise time to get 3 separate agents through the property.

You should be able to get all the agents through at the same time, then conduct the meetings/presentations in your own home or the agent offices at a separate time.

 

[DaveM]

2-3% + GST would be considered normal for NSW.

 

[gm12]

You should be able to get all the agents through at the same time, then conduct the meetings/presentations in your own home or the agent offices at a separate time.

I read somewhere in this forum a while back that there were two agents inspecting the same property and the tentant overheard them arguing outside and cutting deals with each other to get the listing. The tenant then contacted the owner directly, told him what he overheard, made an offer and bought the property himself.

So it might not be a good idea to have all agents through at the same time. I have never sold a property myself so its all hear-say from me.