27 July 2010

Selling a unit in Canberra?

27 July 2010 | twodesiree

Can i auction my own unit for sale in the ACT?

Does anyone know if there is a web site that allow me to auction my place, rather than paying the ridiculously high fees charged by agents?

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Beserk Keyboard Warrior4:04 pm 29 Nov 10

If I were to go with an agent, does anyone have any recommendations / warnings? It’s a one-beddy apartment in a new-ish complex in the city.

Clown Killer3:30 pm 29 Nov 10

Auctions can deliver a good result, but I doubt that a unit is the sort of property that will benefit from auction.

A good agent, will deliver on their commission, but not all agents are good, so it’s a lottery really.

Selling it yourself is ok, but you’re unlikely to get as good a price as if it was marketted by a professional – but then you’re not paying fees so theres a balance.

An issue with selling yourself, is that you deal face to face with prospective buyers there’s no buffer between you and the people doing their due dilligence so you’d want to be really careful about what representatations you make with regards to the place.

georgesgenitals2:20 pm 29 Nov 10

Work out a price, and stick it on allhomes yourself. Price a few thousand bucks below what you think it’s really worth, bearing in mind you won’t be out of pocket $15-20k using an agent. You and the buyer can share the benefit: they get a good deal, and you can demand (and obtain) whatever settlement terms (eg timing) you want. And you’ll still have more $$ in your pocket at the end.

A friend of mine sold his Civic apartment on allhomes, and it worked really well.

Oh, and forget auctions. Madness unless your property can’t be priced.

Beserk Keyboard Warrior1:47 pm 29 Nov 10

Hi Twodesiree, I want to sell my unit on the city and I was wondering how you went with it all? Any advice would be great.

Roadrage7710:18 am 19 Sep 10

What is this “by negotiation” crap that seems to be the new thing for real esate agents (grubs)? The sceptic in me says it is a way of playing prospective buyers off against each other; like an auction with zero transparency. If you have a look at Maria “no relation to Tom” Selleck, there isn’t a single listing which isn’t “by negotiation”. Makes it a bit hard to play the game when you can’t see the goalposts (**insert Jarrod Croker joke**).

georgesgenitals8:39 am 29 Jul 10

2604 said :

Jazz said :

That said, why would you want to do it yourself.. a good agent could sell up to 50 or more properties a year. Averages dictate that you’re likely to sell a house once every 7 years..

All that money you’re apparently saving could otherwise be paying for someone with vastly more experience, contacts and awareness of all the ins and outs of the real estate market & who more than likely will get you a better price with less stress.

I did it myself to save $15-20,000 in commissions, as well as money for newspaper advertising, professional photography, house styling and all the other rubbish that RE agents tell you you’ll need to sell your house. As good a reason as any, I would think!

With respect, I’m not sure how a real estate agent can magically make buyers reach into their pockets and add another $15-20k to what they’re willing to pay for the same property. Most of their so-called negotiating tactics are blatantly obvious, crude and unsophisticated. As for negotiating with purchasers, while I may only sell a house every seven years, most purchasers are also in the same boat, ie they don’t buy very often and are equally inexperienced in negotiation. Have faith in yourself!

All you need to do to sell yourself is get a good lawyer to prepare the contract, pay a valuer $300 to value your house, take some good photos and whack them onto allhomes, and prepare some flyers with photos and basic information for your prospective purchasers. Much better than paying some hack twenty grand to do the same thing.

The other benefit of doing this, is it gives you the option of pricing your property a fraction lower (eg by half the expected commission payment) while still ending up with more $$ in your pocket. Most real estate agents don’t work very hard in this town, mainly because they don’t need to.

260410:34 pm 28 Jul 10

Jazz said :

That said, why would you want to do it yourself.. a good agent could sell up to 50 or more properties a year. Averages dictate that you’re likely to sell a house once every 7 years..

All that money you’re apparently saving could otherwise be paying for someone with vastly more experience, contacts and awareness of all the ins and outs of the real estate market & who more than likely will get you a better price with less stress.

I did it myself to save $15-20,000 in commissions, as well as money for newspaper advertising, professional photography, house styling and all the other rubbish that RE agents tell you you’ll need to sell your house. As good a reason as any, I would think!

With respect, I’m not sure how a real estate agent can magically make buyers reach into their pockets and add another $15-20k to what they’re willing to pay for the same property. Most of their so-called negotiating tactics are blatantly obvious, crude and unsophisticated. As for negotiating with purchasers, while I may only sell a house every seven years, most purchasers are also in the same boat, ie they don’t buy very often and are equally inexperienced in negotiation. Have faith in yourself!

All you need to do to sell yourself is get a good lawyer to prepare the contract, pay a valuer $300 to value your house, take some good photos and whack them onto allhomes, and prepare some flyers with photos and basic information for your prospective purchasers. Much better than paying some hack twenty grand to do the same thing.

colourful sydney racing identity3:36 pm 28 Jul 10

Jazz said :

just becuase people havent commented previously colourful, doesnt make those comments less important than yours. For now, newbie just meas new commenters, not new to riot.

Sorry, where did I suggest that anyones comment is less important than mine? I certainly don’t believe that is the case and don’t believe I have ever indicated that is my point of view. I am, however, deeply sceptical when “new commentors” spruik a business, as everyone should be.

clp3:33 pm 28 Jul 10

How come this uberesate.com doesn’t have any properties listed? How on earth is anyone going to buy from there?

Jazz3:22 pm 28 Jul 10

just becuase people havent commented previously colourful, doesnt make those comments less important than yours. For now, newbie just meas new commenters, not new to riot.

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