Selling your own property - Pros / Cons

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oasis60
Participant
@oasis60
Join Date: 2009
Post Count: 1
June 21, 2017 - 7:33 pm
Hi All
I’d appreciate any feedback, thoughts or suggestions with regards to selling your own property without the use of an agent. This is not necessarily a measure to save on marketing and commission fees but I would like to know if anyone can share the pro’s and cons of doing such a thing.
I have been able to manage to secure a long term tenant (fully furnished) for a 1 bedroom unit in Burleigh Heads where property managers were suggesting $440 to $460. I understand that they have to many units and houses on their books to focus on any one place and got to thinking that they may also not have the time to sell with patience and the ultimate goal of the largest return. I hope this doesn’t come across as synical but now that we can directly advertise on realestate.com.au directly, it’s been a thought that crossed my mind.
Thanks in advance for any feedback.
Jason
Ethan Timor
Participant
@ethantimor
Join Date: 2016
Post Count: 282
June 22, 2017 - 6:50 pm
Hi Jason,
Sold several of my properties directly so got some insights to share 😎
First of all, do you have sales experiance? Generally speaking, nothing sells itself.
Secondly, are you sure your price expectations are on point?
Of the top of my head:
Pros:
You save the agent fees
You get to meet potential buyers and get a good feel of the market
Cons:
You need to organise the photos and a good agency to list through on the real estate listing websites
Feels to me that some buyers are not a fan of meeting the vendor, they maybe feel more comfortable dealing with agents, the old fashion way?
It takes time to deal with the enquiries, the inspections and the open homes
Hope this helps? 👍😎
Cheers,
Ethan
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
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Active Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Jaxon
Participant
@jaxona
Join Date: 2014
Post Count: 284
June 27, 2017 - 1:15 am
Ethan made some good points to add on Jason.
Pros
you do it correct once, you can save and save again
Cons
Savy buyers can change the contract without you realising (adding/changing/etc)
time consuming and really you need to know a fair bit to do this safely
you need to have a Solicitor who is happy for this (most will be)
Mate if your willing to oversea it all and take that risk go for it, If you dont want to deal with the extra stress etc than look at something like purple bricks with a set fee. or bargin prices w agents.
Ps. must be a nice 1b, I got a 2b2b at treetops that rents for only a little bit more.
Jaxon | Jaxon Avery – Financial Adviser
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