Selling without engaging REA

[phil46]

I have a unit at Marsfield (NSW) and am interested to put it on the market. Having been rented out for awhile, I intend to sell it as is without putting in any enhancement or new furnishing. I will price it lower to target rennovator-investors or first-home buyers.

I've been told REA will not take upon these type of property, as they perceive it as slow-moving and a bad reflection to their portfolio if the property is not in tip-top condition.

As I am a first-time seller, can anyone suggest what are the usual ways I can proceed with the selling?? Is there any pitfalls I should look out during the selling process without the REA??

Thank you.

 

[pennyk]

I have a unit at Marsfield (NSW) and am interested to put it on the market. Having been rented out for awhile, I intend to sell it as is without putting in any enhancement or new furnishing. I will price it lower to target rennovator-investors or first-home buyers.

I've been told REA will not take upon these type of property, as they perceive it as slow-moving and a bad reflection to their portfolio if the property is not in tip-top condition.

As I am a first-time seller, can anyone suggest what are the usual ways I can proceed with the selling?? Is there any pitfalls I should look out during the selling process without the REA??

Thank you.

Agents will definitely take on these types of properties.... but you do need to be prepared for it to sell more slowly than something which is renovated, and/or to sell at a significantly lower price.

If you have no experience with selling, I would tend to use an agent, particularly in this slow market.

Try to find an agent who is not the 'premium" agent in the area, and who sells similar properties in the area.

If you have tenants in place, you need to negotiate the number of inspections/ open homes you are allowed to have.

 

[twobobsworth]

Agents will fall over you to list the property. Particularly if you are prepared to price it correctly to reflect the condition.

 

[marg4000]

Any agent will list any property.

So long as the price reflects the condition of the property there should be no problem. Sometimes properties needing work are sought after, both for people who want to add value or want renovations done in a particular style.

I don't know who told you REA agents would not take on your property, but I am fairly sure that advice is incorrect.
Marg

 

[DaveM]

If the price is right, someone from Somesoft might be interested ini buying it. Put a post in the Caveat Emptor forum. JWR will probably even offer you $2.50 for it.

 

[james_w]

I have a unit at Marsfield (NSW) and am interested to put it on the market. Having been rented out for awhile, I intend to sell it as is without putting in any enhancement or new furnishing. I will price it lower to target rennovator-investors or first-home buyers.

I've been told REA will not take upon these type of property, as they perceive it as slow-moving and a bad reflection to their portfolio if the property is not in tip-top condition.

As I am a first-time seller, can anyone suggest what are the usual ways I can proceed with the selling?? Is there any pitfalls I should look out during the selling process without the REA??

Thank you.

I would never sell a property on my first sale without an REA not knowing what I am doing don't know what agent says they wouldn't list but I certainly wouldn't be using that agent.

put it up on caveat Emptor with a price might get some interest is it's priced under market for the area

 

[JWR]

Lol Dave,

$2.50 if the vendor agrees to pay my legals and strata for the next 10 years

 

[phil46]

Thank you the advice and suggestions offered. I understand I'll have to price it lower to attract potential buyers, and will have a look at the Caveat Emptor section as a potential channel.

P.S. As tempting as JWR's offer is, I'll have to decline...

 

[Jtkumnick]

Agree- any real estate agent will be happy to have it if there is a reasonable chance of it getting sold. Nice property photos in the shop windows dont pay the bills- sales, and sales alone do. I would pick the agent that sells similar types of property, maybe even one has sold recently in your building? If so chances are they already have a database of buyers who are looking in the building.

The problem with selling privately is you dont have access to realestate.com.au or domain.com.au, and if your property is not on these websites- say goodbye to 80% of your possible enquiries.......