Jump to content

Selling a house
Tips please


  • Please log in to reply
12 replies to this topic

#1 B.feral3

Posted 21 November 2012 - 09:57 AM

I have bought a house but never sold one.

I was hoping for some tips when it comes to agents and commissions, advertising costs and so on. No two agents seem to do it the same way and I am heading into unfamiliar territory.  

I also want to know about negotiating these rates and what commission others sold at.

We're in QLD if that makes a difference.

Thanks in advance.  original.gif

efs

Edited by Bek+3, 21 November 2012 - 09:59 AM.


#2 threeinnyc

Posted 21 November 2012 - 12:44 PM

We don't have that many experience of selling, except one time, our RE (a very prestigious and reputable one) did the whole lot, from providing a stylist etc. We've sold ours within few days (Sydney's north shore).

So maybe you can have a look/compare RE in your area?

Good luck!



#3 crackles

Posted 21 November 2012 - 01:11 PM

Quite a few re agents don't charge for advertising. There's also a standard they charge for commission - look it up in google I forget the website. It's something like 5% on the first 18k then a % on each k or do after that. Very vague sorry! My baby brain has lost its memory!
Here it is!

Edited by crackles, 21 November 2012 - 01:13 PM.


#4 oomps

Posted 21 November 2012 - 01:24 PM

In the last few years I've sold three houses in ACT and VIC and commissions I've paid have been 1.5% - 1.65%. All of these have been negotiated down from agents who have initially stated that their standard commission is between 2 - 2.5%. Each time we've included an incentive payment. Eg 1.5% plus 10% of any amount over x. Or 1.5% rising to 2.5% if they achieve over x amount. I know a friend who needed to sell quickly and she negotiated a commission that decreased every week the property hadn't sold.

Advertising varies depending on how many ads you run and where. Internet ads cost more to have your property appear as one of the first in the list each time (ie: keeping it more prominent). I've found that things like photographers, floorplan, copywriter, signage boards etc are pretty standard between agents. Remember you can always increase the number of ads if the campaign is going a bit slowly.

Good luck. Hope that helps.

#5 Phascogale

Posted 21 November 2012 - 01:32 PM

You're really going to have to speak to all the agents in your area as to what they exactly do and what they charge.

I would also get recommendations from friends if they have recently sold.

Like PP said, some agents don't charge for certain advertising but you may find that their commission is more than if you paid for advertising yourself.  Some of whether you save money will be dependant on how long it takes to sell your property though.

When we sold we saved about $1000-1500 on the commission by paying for our advertising seperately.

You'll probably find that all the agents in your area will charge a very similar commission.  The commission the agent will charge may somewhat depend on the price of your property ie you may find an agent will charge 2.5% for a property worth around $500K but only 1.5% if the property is worth $1,000,000.  The house we sold was in Vic (metro) and the agents in our area charged roughly 2-2.5% for a property like we had.

As for advertising, just as an example, you'll probably find that for a very basic board out the front ie just For Sale and no pics, will set you back about $100-120.  Advertising in your local newspaper probably about $200 a week for a basic ad with small picture (if you're lucky your RE will upgrade this at no extra cost to you to a 1/4 page with a couple of photos - they may do this in the first couple of weeks when you first start your campaign).  Professional photos around the $200 mark.  You don't need these but they can make a difference.  (There's a real estate agent around here who takes photos with an ordinary point and shoot camera but the settings much be wrong because they always show up grainy and pixellated when they go up on realestate.com.au - you don't want this).  Then there's the internet fees (not expensive but you'll have to pay for these).

You'll need to decide whether you want to do open for inspections or only by appointment.  Even if you have an open for inspection, not everyone can make it at this time so you will find you'll probably be doing by appointment inspections anyway.

Then when getting your house ready.  Take as much stuff out of it as you possibly can so that it looks less cluttered.

#6 mini mac

Posted 21 November 2012 - 01:43 PM

Some real estate agents do % of sale, some do a fixed rate. some say fixed rate then add on extra fees. In WA from what I've been told lately its approx 2-2.5% or about $10000-15000 depending on where you go.

Write a list with questions to ask each agent. Don't sign anything until you're sure you understand and have shopped around.

Things to consider

1) Breakdown of fees

2) Does that include advertising and signage out the front? And for how many weeks (some only will include a few weeks or certain amount of advertising for free, then expect more money to continue)

3) Do the fees include professional photography

4) Where do they advertise (hopefully as many papers and internet sites as possible, and how, large editorials, with or without photos, top of listings on the net etc etc)

5) How many days a week will they open

6) How many weeks will your contract to that agent be

7) How will they advertise $ on your place. I've been told not to put an upper amount on as that limits who will look, and also may put a cap on maximum offers

8) Shop around, ask for a better price, or if they can include anything for free

9) Trust your instinct, if you get a good vibe from the agent its probably a good thing. Buyers will like that too

10) My dad always said, look at the car they drive. If they work on commission, they will want to get the best price haha ie if they drive a better car, they're more likely to be a better seller... Don't know if thats true but I think its a funny thought.

Ah, gotta go. Bugalugs is squawking. Hope this helps. If I can get back and add more I will.

Edited by minimac, 21 November 2012 - 01:44 PM.


#7 ellebelle

Posted 21 November 2012 - 01:50 PM

In QLD, they all still pretty much work to the standard contract which is 5% of first $18000 and 2.5% after that but it is negotiable. I never pay for any advertising. It really comes back to you knowing about your market. ie. is it in an are where things are starting to pickup, do you have the best house in the street etc.

#8 oomps

Posted 21 November 2012 - 02:08 PM

QUOTE (minimac @ 21/11/2012, 02:43 PM) <{POST_SNAPBACK}>
10) My dad always said, look at the car they drive. If they work on commission, they will want to get the best price haha ie if they drive a better car, they're more likely to be a better seller... Don't know if thats true but I think its a funny thought.



Funny, I always think I'm paying them too much when they turn up in a shiny new Merc, and so does their 20 something year old assistant! But maybe that's just the green eyed monster.

#9 mini mac

Posted 21 November 2012 - 05:48 PM

QUOTE (oomps @ 21/11/2012, 12:08 PM) <{POST_SNAPBACK}>
Funny, I always think I'm paying them too much when they turn up in a shiny new Merc, and so does their 20 something year old assistant! But maybe that's just the green eyed monster.


Yeah I admit i thought that too... until Dad put it that way. But whta if they put all their money into real estate or holidays?? You never know really...

#10 B.feral3

Posted 22 November 2012 - 02:26 PM

Thanks everyone. Sorry I haven't come back sooner.

I spoke to 2 agents today. One said they just work off standard commission. (That was the be all and end all.) The other said he would reduce the initial 5% down to 2.5% and leave the rest at 2.5% so that's a saving of $450. Meh... not the answer I was looking for.

(The standard in QLD is 5% for the first $18,000 and 2.5% thereafter.)

I want the 2.5% thereafter reduced LOL!!

Both had advertising fees on top of that.  mellow.gif

Thanks for all the replies. I learned a lot of new and useful information.

#11 WibbleWobble

Posted 22 November 2012 - 02:31 PM

I found this website to be really helpful with regards to house selling. I also rang them and got some advice (free) over the phone when we needed some clarity on which agent to go with.

Good luck.

#12 qak

Posted 22 November 2012 - 02:31 PM

I am intrigued by the $18,000 ... don't see many priced like that!



#13 SisterMaryElephant

Posted 22 November 2012 - 05:12 PM

Another tip is to open list.   Now I know that agents will try to talk you out of this, but exclusive listing can mean you're tied up with a dud agent for a whole month (learnt that the hard way!).  So last time we sold, we open listed, despite only dealing with one agent (so the general public wouldn't have known we were open listed).  If you take this course, you may need to pay for advertising, but we had a young and hungry type who backed himself and got us a good result.




1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users

 

Natural pain relief in the early stages of labour

While managing labour pains on your own can be daunting, there are a number of natural pain relief options to help you cope until you are admitted to hospital.

Chinese woman gives birth to quintuplets

After six years of trying for a baby, a couple’s dreams have come true many times over after the mum gave birth to quintuplets this week.

Five-year-old shoots nine-month-old brother dead

A nine-month-old baby boy died on Monday after he was shot in the head by his five-year-old brother in their grandfather's home.

'Is that baby yours?'

She is my daughter. I gave birth to her. I nurse her. But she doesn't have any of my genes.

Episiotomy in childbirth: not just 'a little snip'

Episiotomies have a place in maternity care – and can occasionally save lives – but should not be performed routinely.

Toddler aggression not caused by language delays after all: study

The logic was that children who don’t have the language to fully express themselves will lash out when they’re misunderstood. Not anymore.

Why we chose to adopt a child with Down sydrome

Everyone in foster care (and really in life) has something that makes them more vulnerable. We just know what our son's is.

Object of desire

Curvy mums make clever babies

Scientists appear to have discovered why women have evolved to have more curves than men – shapely thighs and bottoms lead to healthier babies.

'We'll make sure they know how much she loved them'

A first-time mum will never get to hold her four newborns, dying shortly after giving birth to the quadruplets.

The baby names NZ knocked back in 2014

A New Zealander has tried to name their baby Senior Constable but didn't get away with it - and numbering children is also a no-no.

How can you go into labour without knowing you're pregnant?

For most of us, the idea that a woman could carry a child to full-term without knowing she is pregnant is mind-boggling.

Will you get to the hospital in time?

Worrying your baby will be delivered by the roadside is a common concern for many mothers-to-be. So how likely are you to be caught short?

Video: Funny 'Lips Are Moving' parody just for mums

Meghan Trainor's song 'Lips Are Moving' was already a hit, but now it's been turned into a hilarious parody that is set to be very popular with frustrated mums everywhere.

Out with the clutter

Decluttering by the numbers: take the 30-day challenge

Forget the 5:2 diet - Twitter's 30-day declutter challenge will have your house back in shape in no time (well, a month).

Parents, don't be too hard on yourselves

We need to stop damning parents of today, and embrace their appetite for knowledge instead.

Is my baby normal?

There are chubby Buddha babies and there are thin, smaller babies. Neither are right or wrong, they are all 'normal'.

When an older sibling starts school

When one child goes to ‘big school’ and leaves the other behind, it can cause deep upset. Here's how to make the transition easier.

Stray cat saves abandoned baby

They say dogs are man's best friend, but one cat has proven felines can be just as devoted to their human companions.

How strangers are helping a mum's wish come true after her death

A mum of five, Liz Marquez wanted to breastfeed her premmie son for a year. So when she passed away suddenly, her friends - and strangers - stepped in to help.

Win an Octonauts prize pack

To celebrate the launch of Octonauts Live! Operation Reef Shield, a spectacular underwater adventure live on stage, we are giving away an amazing Octonauts prize pack to one lucky fan.

Download now: Essential Kids Activity Finder app

Got bored kids? Quickly find the best activities for kids wherever you are in Australia with the Essential Kids app.

 
Advertisement
 
Advertisement
 
 
 

What's hot on EB

Stars help save choking babies

It's an important lesson to learn, but one that busy new mums and dads might overlook until it's too late.

New Girl star Zooey Deschanel pregnant

Actress Zooey Deschanel is expecting her first child with her producer boyfriend Jacob Pechenik.

16 times 'dad reflexes' saved the day

Of course, in some cases they may be the ones who actually got their child into a precarious position in the first place, but we'll ignore that for now.

Couple's 'non-traditional' pregnancy announcement goes viral

Knowing you are not the father of your pregnant wife's baby would usually indicate a rocky relationship ahead for traditional parents.

The trials and tribulations of identical triplet newborns

Pip Donnelly is still playing spot the difference with her newborn identical triplets, Isabelle, Georgina and Frankie.

Win an Octonauts prize pack

To celebrate the launch of Octonauts Live! Operation Reef Shield, a spectacular underwater adventure live on stage, we are giving away an amazing Octonauts prize pack to one lucky fan.

Earthquake baby thriving five years on

Jenny Alexis is lucky to be alive after spending four days buried in the rubble of the 2010 Haitian earthquake, but now she's a thriving five year old.

Please don't say I'm lucky because I was adopted

On the one hand I was having a regular life with friends and sports and sleepovers and school. But I was also always wondering: Did my mother love me? What was wrong with me?

An open letter to non-parents who offer advice on child-rearing

Kitty, when you’re the parent of my child you’re welcome to wade in with an opinion – but until then, I’d prefer you to have a supportive ear and a glass of wine ready.

Couple arrested over baby gun video

A US couple faces charges after investigators say they found mobile phone videos showing the woman's 12-month-old daughter putting a handgun in her mouth.

NSW Health dumps 10-year limit on frozen embryos

A 10-year time limit on storing frozen embryos that were created with donor sperm has been dropped by the NSW government.

How my happy-go-lucky husband became a monster

Sharan Nicholson-Rogers watched her husband change from a happy-go-lucky police officer into an unpredictable man prone to violent and emotional outbursts.

Dads-to-be experience hormonal changes, too

Dads-to-be experience hormonal changes in line with their pregnant partners, a new study shows.

'They were just doing their job': mum of toddler killed in police chase gone wrong

"They were just doing their job. I feel so sorry for them. It is all just too sad."

Miscarriages to be formally recognised by NSW government

Women who miscarry will be able to obtain an optional "recognition of loss" certificate as a formal recognition of their often heartbreaking loss.

Cafe cubby house 'too noisy' for neighbours

Teenage parties, domestic disputes, or raucous late night pubs are the things that usually come to mind when you think neighbourhood noise complaints.

Dad films baby playing with snake

Most parents would not consider a snake an appropriate playmate for their baby, but a US dad who filmed his daughter playing with a python has defended himself against criticism.

Clever breastfeeding products

Check out this range of products designed to help make your breastfeeding journey more enjoyable, manageable and convenient.

Win with The Boxtrolls

To celebrate the release of The Boxtrolls on 3D Blu-ray, DVD & Digital with UltraViolet, we're giving you the chance to win a Boxtroll stationary package and DVD.

 

School Term 1

Get after-school care sorted

Wait lists too long at OSHC? Use www.findababysitter.com.au to meet local nannies now.

 
Advertisement
 
 
Essential Baby and Essential Kids is the place to find parenting information and parenting support relating to conception, pregnancy, birth, babies, toddlers, kids, maternity, family budgeting, family travel, nutrition and wellbeing, family entertainment, kids entertainment, tips for the family home, child-friendly recipes and parenting. Try our pregnancy due date calculator to determine your due date, or our ovulation calculator to predict ovulation and your fertile period. Our pregnancy week by week guide shows your baby's stages of development. Access our very active mum's discussion groups in the Essential Baby forums or the Essential Kids forums to talk to mums about conception, pregnancy, birth, babies, toddlers, kids and parenting lifestyle. Essential Baby also offers a baby names database of more than 22,000 baby names, popular baby names, boys' names, girls' names and baby names advice in our baby names forum. Essential Kids features a range of free printable worksheets for kids from preschool years through to primary school years. For the latest baby clothes, maternity clothes, maternity accessories, toddler products, kids toys and kids clothing, breastfeeding and other parenting resources, check out Essential Baby and Essential Kids.