If you are considering selling your home in 2017 there are many paths you can take:
- Sell it yourself
- Engage a traditional real estate agent on commission with a full agent service
- Engage a real estate agent at a fixed price with a full agent service
Selling an $800,000 home could cost as little as $2,610 if you sell yourself or up to $17,675 if you utilise a traditional commission agent.
If you are considering selling on your own, think carefully about the following:
- Appraise the property correctly by using publicly available information about local sale prices and consider an independent valuation to assist
- Ensure you present the home well for photography
- Prepare relevant marketing material
- Ensure all relevant documentation is available to a potential purchaser to enable an informed decision to be made, example: council rates, water rates, copy of title etc
- Be prepared to arrange inspections by appointments and opens at various hours of the day
- Be prepared to meet potential purchasers and take on board any negative feedback
- Follow up with those people interested in your home and be prepared to take the emotion out of the sale negotiation
- Engage a Solicitor or Conveyancer to prepare the Contract and Form 1
People often underestimate the work involved in selling a home and the level of professionalism required to negotiate the best conditions and price. Selling a property is an emotional and intense experience. It can be easy for a seller who decides to sell it on their own to run into trouble with incorrect information provided to a prospective purchaser or the inability to remove the emotion from the sale. A real estate agents market knowledge and negotiating skills can be particularly useful when it comes to listing a property for sale. Following is an indicative table of costs under each model.
| Cost to sell an $800,000 Home by Private Treaty | Sell On Your Own | Sell with SA Listings | Sell with a Traditional Agent @ 2% |
| Base Price | $1,295.00 | $7,888.00 | $16,000.00 |
| Professional Photography | Inc | Inc | $200.00 |
| Sign Board | Inc | Inc | $150.00 |
| Listing on realestate.com | Inc | Inc | $500.00 |
| Brochures | Inc | Inc | $110.00 |
| Open For Inspection | Manage Yourself | Inc | Inc |
| Form 1 | $330.00 | Inc | $330.00 |
| Government Searches | $385.00 | Inc | $385.00 |
| Contract Preparation | $600.00 | Inc | Inc |
| Total | $2,610.00 | $7,888.00 | $17,675.00 |
In 2017 there is choice and the flexibility to now sell your home with a full agent service at a lower cost to a traditional commission agent. So why create a headache for yourself and embark on selling alone when you can engage the service of a real estate professional at a transparent fixed fee. Whilst you think you will save thousands by selling yourself, it could in fact cost you thousands in the final negotiated price!
Justine Thomson
salistings.blog 