What are the procedures of selling the property privately???
- Thread starter gobear
- Start date
I havent sold privately - considering i am an agent 
but from the top of my head some things to think about... not really in a particular order
1) Arrange for the contract to be prepared by your solicitor
2) work out where you are going to advertise and find out the deadlines. Most papers would have a deadline early in the week for the saturday edition
3) take photos or arrange a professional photographer
4) Arrange for a floorplan if you dont already have one
5) compile information you think buyers would be interested in and put together some kind of brochure for them to take away with them
6) decide how you are going to arrange inspections. I.e what times does your home present at its best with the sun in the right place etc.
7) Go and look at competing properties in the price ranges so you can be ready to discuss them with buyers if they ask.
8) Organise somewhere to write down potential buyers names and numbers so you can follow them up.
hmm... sure there are lots of other things i am forgetting
but from the top of my head some things to think about... not really in a particular order1) Arrange for the contract to be prepared by your solicitor
2) work out where you are going to advertise and find out the deadlines. Most papers would have a deadline early in the week for the saturday edition
3) take photos or arrange a professional photographer
4) Arrange for a floorplan if you dont already have one
5) compile information you think buyers would be interested in and put together some kind of brochure for them to take away with them
6) decide how you are going to arrange inspections. I.e what times does your home present at its best with the sun in the right place etc.
7) Go and look at competing properties in the price ranges so you can be ready to discuss them with buyers if they ask.
8) Organise somewhere to write down potential buyers names and numbers so you can follow them up.
hmm... sure there are lots of other things i am forgetting
You need a conveyancor who will do all the paperwork.
You could also try a buyer's agent, they might have clients that are willing to take the property and would arrange the private sale between you and the purchaser. The purchaser pays the buyer's agent's commission. This is a biased comment since I own a buyer's agency in SA
You could also try a buyer's agent, they might have clients that are willing to take the property and would arrange the private sale between you and the purchaser. The purchaser pays the buyer's agent's commission. This is a biased comment since I own a buyer's agency in SA
I have my house up for private sale, priced well under similar houses in the area (unfortunately also way above the average in the area - the average is really poor standard) and with a WAY better advert than I could even dream of if I was with one of the (dreadful and expensive) local agents. Put two ads in the paper, ads on sig, ad on owner.com.au.
Pretty close to diddly squat response so far. It goes to an agent next week and I guess I have to just sit down, shut up and put up with a poorly spelt advert, innacurate text, awful photos etc just so I can get an ad on realestate.com.au. And if the house STILL doesn't sell I'm going to have to grit my teeth and rent the thing out for a 30% gross yield (based on what I owe) before my insurance lapses because the house is vacant.
Pretty close to diddly squat response so far. It goes to an agent next week and I guess I have to just sit down, shut up and put up with a poorly spelt advert, innacurate text, awful photos etc just so I can get an ad on realestate.com.au. And if the house STILL doesn't sell I'm going to have to grit my teeth and rent the thing out for a 30% gross yield (based on what I owe) before my insurance lapses because the house is vacant.
Thanks for the answers
There are few questions I'd like to ask if you guys do not mind?
1) I know I need to find a conveyencer to sort out the contract details first, so are there any good ones recommended which is reliable and cheap?? I heard that it cost around $1000, is that true?
2) Apart from advertising the property in Domain.com.au, should I also advertise it in realestate.com.au necessary as Sydney Morning Heralds newspaper every Sat to get more exposure?
3) Am I allowed to do Open For Inspection privately? Because I dont think I've seen or heard someone doing it privately but from agents instead? Unless I am wrong
Your feedback and answers would be appreciated
There are few questions I'd like to ask if you guys do not mind?
1) I know I need to find a conveyencer to sort out the contract details first, so are there any good ones recommended which is reliable and cheap?? I heard that it cost around $1000, is that true?
2) Apart from advertising the property in Domain.com.au, should I also advertise it in realestate.com.au necessary as Sydney Morning Heralds newspaper every Sat to get more exposure?
3) Am I allowed to do Open For Inspection privately? Because I dont think I've seen or heard someone doing it privately but from agents instead? Unless I am wrong
Your feedback and answers would be appreciated
You need a conveyancor who will do all the paperwork.
You could also try a buyer's agent, they might have clients that are willing to take the property and would arrange the private sale between you and the purchaser. The purchaser pays the buyer's agent's commission. This is a biased comment since I own a buyer's agency in SA
Hey, thanks, that's such a great idea as I never thought of that before
So do I basically approach and\or ring each buyer's agent and ask "Do you have any purchaser who is interested in buying this suburb, this property" etc and if they do so, they will pass the details to their interested buyers and then I do not need to pay some sort of commission to the buyer since I am the one who is satisfying their criteria? I hope my understanding is right
Anyone have list of good and\or reliable buyer's agent throughout Sydney so I can ask them?
Wylie is right, which is a problem for me as the SA listings are predominantly on re.com.au.
I thought you can as I found it under Sell Property:
http://www.selfservice.domain.com.au/
Unless I am seeing something wrong here???
Last edited:
Yes you are
You cannot privately advertise on www.realestate.com.au
but you can on www.domain.com.au
which is the link you provided
I'd forget the paper - waste of time & $'s IMO
re.com has the bigger audience but there are enough ppl that use domain to make it worthwhile
As for Opens - you can do whatever you like - its your house - advertise, hold opens, knock yourself out. There are no "rules" - you just need a sales contract.
Oh, and I'd just e-mail the BAs - so they can keep it on file for starters and they get a number of these private listing offers every week.
Do a search for "Real Esate Buyers Agents" on www.yellowpages.com.au for a full (mostly) list. Only a fraction advertise in the BA section of re.com
Happy selling.
I sold my own PPOR end of 2007 with little trouble. In fact, I ended up exceeding my own desired price but then again I do negotiate for a living
You can read all about my entire experience either here (in the posts somewhere) or in this post over at the invested.com.au forum
http://www.invested.com.au/6/privately-selling-19021/
Best of luck with it all.
You can read all about my entire experience either here (in the posts somewhere) or in this post over at the invested.com.au forum
http://www.invested.com.au/6/privately-selling-19021/
Best of luck with it all.
The first property we sold, we sold privately. Being new to the selling we went ahead and signed up with a company that does your marketing and negotiating etc. all you need to do is run the open homes yourself. Couple of points:
- we paid around $3k for the advertising and marketing. This included re.com and domain.com as well as a number of smaller sites. Also included print material such as a large number of A4 size colour flyers with photos and floor plans etc. as well as smaller ones for letter box drops in local area.
- you need to do the open homes yourself, which in itself is pretty easy. Just make sure you organise this with your tenant well in advance. We rushed in and organised this without giving the tenant much notice. they refused us access for the first open house, which turned a lot of prospective buyers aways and they never came back. Had better luck for the next few, although the tenants insisted on being in the house during these as they had stuff stolen from previous open home experiences.
- I think luck was on our side, only one couple turned up to subsequent open homes, they purchased it above what we were expecting
If I was to do it again, I'd just get straight onto a couple of buyers agents and let them know I have a property for sale.
Good luck with it
- we paid around $3k for the advertising and marketing. This included re.com and domain.com as well as a number of smaller sites. Also included print material such as a large number of A4 size colour flyers with photos and floor plans etc. as well as smaller ones for letter box drops in local area.
- you need to do the open homes yourself, which in itself is pretty easy. Just make sure you organise this with your tenant well in advance. We rushed in and organised this without giving the tenant much notice. they refused us access for the first open house, which turned a lot of prospective buyers aways and they never came back. Had better luck for the next few, although the tenants insisted on being in the house during these as they had stuff stolen from previous open home experiences.
- I think luck was on our side, only one couple turned up to subsequent open homes, they purchased it above what we were expecting
If I was to do it again, I'd just get straight onto a couple of buyers agents and let them know I have a property for sale.
Good luck with it
Did I read that right? You want to have sold the property within 1 week, or you just want to start the process off?
My dad sold his property privately. Didn't pay for any advertising etc. because the buyer was a neighbour of the tenant.
However - be prepared to stand your ground re: negotiations - people think they can get you to lower the price because "I'm saving you the agents' commission". Have comparable sales data on hand to fob off these sorts of arguments.
I've gone and signed up with an agent after the lack of interest from the paper - I guess noone reads the paper these days. Signing up with a marketing company that puts the ad on RE.com.au etc for me doesn't save me a thing, would probably work out more expensive than an agent in the end.
So now I've set my minimum sale price $4k higher to cover the agent's commission ... not unreasonable, other houses in the area have managed to sell for more than $94k in the last year so its doable.
The advert he's written is not investor-centric, despite the house being one of the few out there that would be slightly positively geared if it was rented out. He's pushing the 'big cheap family home' angle.
So now I've set my minimum sale price $4k higher to cover the agent's commission ... not unreasonable, other houses in the area have managed to sell for more than $94k in the last year so its doable.
The advert he's written is not investor-centric, despite the house being one of the few out there that would be slightly positively geared if it was rented out. He's pushing the 'big cheap family home' angle.
Hi GoBear
Have PM'ed you...
Thanks
Have PM'ed you...
Thanks
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