Selling property without agents

I'm thinking about selling one of my properties privately (without an agent's involvement) and wanted to see if anyone has any tips?
I've got the advertising covered (on domain.com.au and realestate.com.au) through Landlords's Choice. I've used them before to get tenants and then realised they also do ads to sell properties on both sites for $199, which is pretty good, I think.

I won't do my own conveyencing, I think.
Has anyone done this before and wants to share?
 
Not really ... I have a house listed on Gumtree at the moment and am not expecting it to sell any time soon. It is leased until November so it would be nice if it settles around when the lease ends. I sent it in to Home Hunt and we'll see what comes of that. Had it up on Gumtree and in the local paper last year and got plenty of requests for photos etc, but no bites. FAR more from those than when it was with an agent though. It is an incredibly difficult house to sell so its probably a good thing I'm getting 20% yield while I'm waiting to be rid of the damn thing. I can't really justify paying for it to be listed on re.com.au unless it costs a pittance to do so.

My conveyancer can do all the paperwork if by some miracle someone actually wants to buy the thing.
 
Hi Rumpled,

wow, 20% yield? Why do you want to sell it at all?
I thought gumtree was more for rentals and share houses, but I'm not an expert on this. Not sure what you consider a pittance, but landlordschoice.com.au only charges $199 for an ad on re.com.au, that's why I am using them rather than going through an agent.
Have you had your house for a long time, is that why the yield is so high?
 
Where abouts is your property and what do you think it's worth?
I'll then offer my opinion and tell you why I think you're making a poor business (read - financial) decision. :p
 
Landlord's Choice doesn't do sale adverts on re.com.au or domain.com.au, that or they have the pricing listed for it so buried I couldn't find it on their site. Its not under 'services'. Got a link?

I bought the house in 2003, renovated it to the tune of $35,000 in cash so vs the original loan, the gross yield is 22.8%. The gross yield vs the last valuation is 7.6%. However I can't use the equity in it to do anything and its in a bad location so I'll never get good tenants. I have it for sale for $75,000 which is a capital gain of absolutely nothing after renos, holding costs, rates yada yada for all those years, but I'd like to get my equity out to do other stuff, like buy a new car. My current car doesn't fit two baby seats in the back. I can't get a car loan and I'm scraping it as is to get a house loan so this is the only real option other than just waiting a few years and saving up, which doesn't solve my baby seat problem.
 
RumpledElf,

I understand now why you want to sell. It's a shame you can't access the equity.
Regarding Landlords Choice, they definitely do ads for sales as well, because I spoke to them about it after seeing one of their sales ads by chance.
Don't know if it's on their website or not, but the site isn't easy to navigate, so I just e-mail them or call.
 
I chucked my place up on homesales.com.au while I was at it ... free listing, why not?

It still worries me I had the house up on re.com.au and ALL the other 'proper' sites for 6 months and the agent told me about half a dozen people got in touch. I've had heaps of contacts (no sale of course) from being on Gumtree for a bit over a week. Either the agent was lying through his teeth and yet another reason to not use that agent ever again, or people don't look for cheapies on re.com.au.

Agents fee for a cheap house is $4500 btw :eek: 6%! Most of his listings in my current town are for $250k houses, I'm not sure I want to know what a huge slab of the sale he's taking for *those*.
 
Hi Gools,

can you tell me why you think it's a mistake to sell without agents? The house is in Liverpool and I've had appraisals around $425k as mentioned in a previous post.
 
EMOTION. You will screw yourself down on price without even realising. (unless of course you're good at the game, if so then do it yourself :))

If you want to sell a house without an agent, get a friend or family member to sell it on your behalf.
 
NeK,
I'm interested to find out what you mean? I thought it would have been the other way round. I thought the danger would be that because I'm emotionally attached to the property, I would fail to accept where the market is at and hold out for an unrealistic price? Why do you say I would 'screw myself down on price"?
 
I've had mine appraised at "$90-100k" and $88k. I've had offers at $85k when it was for sale at $85k with noone attempting to haggle me down. I don't think the price is the issue with mine ... its just in one of the cheapest areas in SA and the usual problem with cheap things - too cheap. What's wrong with it? Same house would be $250-300k if I just relocated it to the vacant block next door *sigh*
 
Top