It’s never been easier to get your own personal real estate agent.
You will find at least a dozen websites that let you sell your premises yourself, with fees a very small fraction from the commissions charged by real estate auction sites.
Marina Tretiach recently sold her house in Sydney’s Lane Cove through ForSaleByOwner.com.au, saving thousands of dollars in agent’s fees.
The laboratory manager was looking to purchase another house outside Sydney for more than a year along with attended many auctions.
“I assumed to myself which i can do all the stuff that agents do,” Marina says. “I am just really knowledgeable about the area and i also be aware of house and i also was certain that I really could do nearly as good employment as they could do.”
Marina found the process easy, the site providing a youtube video tutorial on where to start.
The websites look like broadly similar in their approach. They have a basic marketing package where online ads are positioned on leading real estate websites at the same time about the sites themselves.
The seller may add further services and products, say for example a “for sale” sign for the front of the property and brochures.
Although all properties are listed with prices, the seller can opt to see auction where the website provides an auctioneer for a day.
The seller decides if you should have open houses or whether or not to have private viewings, the owner handing every one of the inquiries themselves.
Marina sold her house to the asking price within three weeks of listing.
Her open houses were well attended only one day she received a telephone call from somebody that had seen the for-sale sign and planned to begin to see the house privately. He was the eventual buyer.
Paul Heath, the primary executive of BuyMyPlace.com.au, says by selling their properties themselves vendors can save lots of money in commissions and marketing costs.
Applying a standard commission of 2.25 per cent for the median Sydney house price equates to some saving of $24,000.
Also, there are several savings about the typical marketing expenses of about 1 percent, he says.
Heath says private vendors in most cases still get appraisals from the local real estate professionals and go to many auctions and check out what similar properties are fetching.
Colin Sacks, chief executive of ForSaleByOwner, says private vendors need proper support.
“It’s one important thing not to make use of an agent but another to never utilize an agent and to do it well,” he says. “A real estate agent does bring certain skills to the table and so the question for you is whether we are able to bring those skills together in a online environment. Our company offers vendors by using a ‘dashboard’ where they will likely see every one of the inquiries and dexkpky60 people are considering their ads in Domain.com.au and Realestate.com.au along with other sites.”
Sacks says most people using his site are paying about $1000, which includes a for-sale board to the front from the property.
Real estate professionals are sceptical of claims made by websites that private vendors are routinely achieving higher prices than once they had used a realtor.
Michael Harris, the director of Raine & Horne in Sydney’s Newton, has become selling property for 17 years.
“Things I am today is not really what I was after i started in real estate, which happens to be what your average mum and dad is going to be like,” Harris says. “People do not realise the amount of work that you need to do in order to sell a home.”
Realtor Trudy Biggin, of Biggin & Scott in Melbourne’s Brighton, says an excellent agent can advise about how the home ought to be presented to create that “wow” factor.
She says one of the primary skills of a good agent is at negotiating having a potential buyer so as to reach the best price for that vendor.
“If you know that somebody really likes your house, the skill is to keep them focused on that house as well as pay reduced price,” she says.
Sam Lally, a buyer’s agent at Buyer’s Advocate Australia in Melbourne’s Hawthorn, agrees.
Lally sold real estate before switching to helping buyers and that he says you have to know how to speak to potential buyers, what information to get from their website and the way to qualify them.
In his role as being a buyer’s agent, Lally “loves” handling vendors directly.
“A lot of people think their skills within their professional regions of expertise are transferable to property negotiations,” he says.
“Private vendors are often no match for experienced property negotiators, including buyer’s advocates or agents.
“Vendors who use good agents have an improved chance of having an improved price for his or her property.”