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Can Real Estate Agents Be Some Kind Of Help To Get The Right Price Of Your Property, Or Is Private Sale Better?
In a private sale, vendors dispense with real estate agents and publicize their property themselves. They hope to attract buyers who will offer the best price for their property, ending with a sale in which the vendor does not pay any real estate commission to an agent.
This sounds great theoretically, but in the Queensland market at least, there is one serious problem with this process. This would affect all vendors attempting a Brisbane private sale. The problem is that for better or worse, most buyers who are looking to buy real estate first of all visit the website known as realestate.com.au. I heard from one of their competitor's representatives that realestate.com.au has 94% of trading in Queensland. Whether this is true or not I do not know, but the market share of this particular website is excellent. You would be crazy to try to sell residential property without advertising on this particular site. If you did try, how could you be sure that you were getting the right buyer for your property? You would be missing out on reaching so many buyers it would not be funny.
The simple fact is, that at the time of writing, only licensed real estate agents and their representatives can advertise properties for sale on this website. Further, these agents must have a Form 22a signed by the client - that is, a valid listing document, before they are allowed to put a property up on this site. Any agent who flaunts this rule is asking for trouble.
Traditionally this left many sellers in a bind. How to avoid the huge commissions - like around $12,000 on the sale of a $400,000 property and still get the right amount of market exposure for reaching the target audience?
For this reason, in Queensland anyway, I believe it is best to forget about traditional private sales as a method of getting the top price in your hand for your property.
With this situation in mind, Happening Real Estate was formed. For some years now, we have been doing deals with vendors - giving them relevant market information, and listing their properties on realestate.com.au and domain.com.au - WITHOUT charging the high commissions which are common in the industry. It is done as a fee for service model. We handle the inquiries, connect buyers and sellers, sellers show their own property, and we negotiate for the sellers to achieve the best possible outcome. We then prepare legal agreement paperwork and get signed contracts to the solicitors. The great thing about this for the vendor is that he or she gets to reach all the buyers that any agent can reach through online advertising - and the seller normally pays 90% or more less than traditional real estate commissions for the service!
There are also service plans for those who want guidance in preparing marketing copy, taking photos, arranging signboards and newspaper advertising - all the other things that agents normally do in working to sell the home. These packages still result in significant savings for the vendors - often enough to cover the stamp cost on their next property purchase!
Whether you want a full real estate service or a service enabling you to get the advantages exclusively available to real estate agents, Happening Real Estate have plans designed for you. Don't go it alone with a private sale. Get help, get information, and get marketing power for the best sale result. Call us now in Australia on 1300 725 853 and look forward to a successful sale with a very pleasing settlement statement from your conveyancer at the end of the process!
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