We recently found a new house to move to – so that meant selling our current place. Being reasonably confident people who were aware of the current market we decided to give selling it ourselves a go. Our decision was reinforced when an agent we spoke to quoted a flat fee of three percent (in our case equalling more than $12k in selling costs).
We had a fair idea of what our place was worth and luckily we were able to access a professional valuation (not agent appraisal) for our place through our bank that came to within 5k of that estimate.
So where to, once we made the decision to do it ourselves?
We contacted the building inspection people for the combined pest, energy efficiency and building report.
We then had the solicitor draw up the contract (which has to be prepared before a property can be listed for sale in the ACT). Within the contract is the building report.
Photos we did ourselves but did get a quote from a group (that only does real estate photography) for around $350. If you are not confident in taking pictures then this is probably money well spent. We also used one of the many free floor plan websites to do up a floor plan of the place but if you are desperate you can use the grainy one that will be in the building report.
Coming up with the flowery words took a couple of hours – though I was conscious to try and emphasise the property’s assets while not to sounding like just another real estate tosser!
Listing on AllHomes took all of 20 minutes. Register, load up the words, add the pics, pay the $995 fee and a couple of minutes later it is up there. Approx 12 hours later the property had been viewed almost 300 times. We chose to list inspection by appointment initially then listed a Saturday open house the following weekend. We had two offers that were a bit low for our liking and then following the second open house we had an acceptable offer.
So with a bit of organisation, a few hours work and a price to sell we have saved ourselves a fair chunk of money.
Some tips from our experiences:
- — Do get good pictures – in a listing everyone checks pictures first, then they read the details.
— Do sell the place – upgraded insulation, painted recently, ducted gas heating, near a school or park, mention them all.
— Do get people’s contact details (do up a simple registration sheet). We didn’t contact people just because they visited but stayed in contact with those that requested the building report.
— And if someone asks for the building report – tell them up front about any unapproved structures or any other issues identified in the report.
Would we do it again? In a heartbeat. Know the market, price it to sell and then be open and honest with prospective buyers.
[Photo: Allhomes screenshot unrelated to the property being discussed]