Selling privatley
- Thread starter nu gen
- Start date
Why don't you consider a sole agency agreement with an agent - or even an open listing. That way you will have them working on your behalf whilst still reserving the right to sell privately. You might find that an agent may well be able to achieve the best marketing outcomes on your behalf.
You will need a solicitor or conveyancer.
Most importantly you will need to work out an advertising campaign - don't make the mistake of trying to scrimp and save and do yourself out of the best price in the long run.
All the best,
You will need a solicitor or conveyancer.
Most importantly you will need to work out an advertising campaign - don't make the mistake of trying to scrimp and save and do yourself out of the best price in the long run.
All the best,
hiya nu gen!
To answer your question, you will need a properly drawn up contract of sale, your conveyancer/solicitor will furnish you with this. Don't scrimp by getting one from an agent and using this, the copyright on them makes them un-enforceable for non-registered agents, as I understand the legislation. (it shouldn't cost any more for the solicitor to give you one anyway!)
It's an interesting conundrum, selling privately. One thing always sticks in my mind... "You can't both save the same commission".
As a vendor, you are selling privately so that you don't have to pay a commission (I assume). But any purchaser seeing your ad will immediately think, hey, I can offer less, because there's no agent's commission to be paid.
For instance, If you want 250k in hand for your house, you will advertise it for 260k. You are thinking, hey, if I get 250, then it's all mine... But the purchaser is thinking, well, with an agent I would have offerred 250, but since there's no commission to be paid, I'll offer 245.
Also, it's the agent's job to get you the best price they can, so in all likelyhood, the agent will get your best price, even after their commission is taken out.
I guess it's obvious that I am biased in this respect, and I wish you luck with your sale, I hope it goes well.
Contact a local signwriter, they will be able to do a board for you, these are about $200. As Simon said, don't scrimp on the advertising, your ad should be about twice the average size of a single ad for a property in any of the real estate agent's lists, most people just don't see individual ads.
Hope it goes well!
asy
To answer your question, you will need a properly drawn up contract of sale, your conveyancer/solicitor will furnish you with this. Don't scrimp by getting one from an agent and using this, the copyright on them makes them un-enforceable for non-registered agents, as I understand the legislation. (it shouldn't cost any more for the solicitor to give you one anyway!)
It's an interesting conundrum, selling privately. One thing always sticks in my mind... "You can't both save the same commission".
As a vendor, you are selling privately so that you don't have to pay a commission (I assume). But any purchaser seeing your ad will immediately think, hey, I can offer less, because there's no agent's commission to be paid.
For instance, If you want 250k in hand for your house, you will advertise it for 260k. You are thinking, hey, if I get 250, then it's all mine... But the purchaser is thinking, well, with an agent I would have offerred 250, but since there's no commission to be paid, I'll offer 245.
Also, it's the agent's job to get you the best price they can, so in all likelyhood, the agent will get your best price, even after their commission is taken out.
I guess it's obvious that I am biased in this respect, and I wish you luck with your sale, I hope it goes well.
Contact a local signwriter, they will be able to do a board for you, these are about $200. As Simon said, don't scrimp on the advertising, your ad should be about twice the average size of a single ad for a property in any of the real estate agent's lists, most people just don't see individual ads.
Hope it goes well!
asy
Go for it. It is a sellers market.
How are you going to advertise the price ?
One technique that is getting more popular is putting a negotiable price for the first week then set a price range.
There are kits you can buy from a company called 'Canreps' that include the necessary paperwork and advertising stuff.
Try to hold your open house around the same times as other properties near yours. This will make it easy to get all prospective buyers looking at the other properties into yours.
Good luck !
How are you going to advertise the price ?
One technique that is getting more popular is putting a negotiable price for the first week then set a price range.
There are kits you can buy from a company called 'Canreps' that include the necessary paperwork and advertising stuff.
Try to hold your open house around the same times as other properties near yours. This will make it easy to get all prospective buyers looking at the other properties into yours.
Good luck !
In the first few weeks you will have all the serious buyers look at your property either in the paper or in an open house. If you set your price too high you will miss them and then just get the new buyers as they trickle onto the market.
When I see a home in this buyers market come down in price after a week or two I wonder what it is that caused it not to be sold...overpriced, poor location or something structural.
You need to consider your opening price very carefully.
When I see a home in this buyers market come down in price after a week or two I wonder what it is that caused it not to be sold...overpriced, poor location or something structural.
You need to consider your opening price very carefully.
A Company called DIY property sales has kits that include a basic sign etc. I'm pretty sure there on the web.
My brother successfully sold, but did so on the first day he advertised. He has always wondered whether an agent might have acheived a better price.
If I was going to sell myself I'd want to be very sure of the price I was going to get. You can also hold a private Auction.
In any case as mentioned earlier your advertising budget wuold need to be significatn unless youre property is on a busy road.
Darryl
My brother successfully sold, but did so on the first day he advertised. He has always wondered whether an agent might have acheived a better price.
If I was going to sell myself I'd want to be very sure of the price I was going to get. You can also hold a private Auction.
In any case as mentioned earlier your advertising budget wuold need to be significatn unless youre property is on a busy road.
Darryl
nu gen,
Make sure you can keep a big emotional distance from both the property and the prospective buyers.
This is where real estate sales people excell (or at least the good ones). They don't have to like the buyers to sell a property to them and they don't get offended when all the flaws are pointed out.
This really means overcoming the instincts to be protective over YOUR property and be able to overcome objections constructively.
Cheers,
Aceyducey
Make sure you can keep a big emotional distance from both the property and the prospective buyers.
This is where real estate sales people excell (or at least the good ones). They don't have to like the buyers to sell a property to them and they don't get offended when all the flaws are pointed out.
This really means overcoming the instincts to be protective over YOUR property and be able to overcome objections constructively.
Cheers,
Aceyducey
