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

 

How a baby can survive alone for days on end

The baby found abandoned in a Sydney drain may have been alone for up to six days without being fed, leaving many asking how he could have survived.

When it begins to look a lot like Christmas

A child's excitement at Christmas time is a beautiful thing, but one dad ponders whether his toddler daughter is getting into the festive mood a bit too soon.

Hospital lets dads the experience some of the pain of childbirth

A new experience is radically altering men's views of childbirth.

Italian doctors questioned over formula bribes

Italian police have placed 12 doctors under house arrest on suspicion of promoting baby milk formula over breastfeeding.

Heartwarming prank gives single mum the house she was hired to clean

Cara Simmons arrived at work to clean a large and beautiful house in time for a party planned for that evening. It was soon hers.

Those special moments of sibling bonding

Every now and then your child does or says something that is truly memorable.

Why we should stop telling new parents to 'enjoy every moment'

A few weeks ago, some dear friends of mine had their first baby. As the proud dad texted me a picture I had to fight the natural instinct to say “Enjoy every moment!”

Baby monitor footage posted online

Footage of Australian babies and children sleeping in their bedrooms are among the images on a Russian site showing live feeds from thousands of homes and businesses around the world.

Did this new dad really hit on his wife's midwife?

Was there really a man who was actually there by his wife’s side as she laboured and gave birth to his child, all while he was making what he perceived to be meaningful eye contact with a midwife?

Keep calm and ignore the Tantrum Trolls

Tantrum Trolls are a small but growing species of predatory bottom-feeders who delight in picking on parents at their most vulnerable.

It's okay to never 'get over' the death of a loved one

The death of children, siblings, and parents has long term impacts on the rest of our lives.

What Mark Latham needs to know about depression and motherhood

In a bizarre bid for relevancy, Former Opposition leader Mark Latham has deduced that because one female journalist had this week light-heartedly thanked antidepressants and caffeine for getting her through a medical degree while raising two small children, that ergo, all 'inner-city feminists' are selfish harridans who despise their offspring.

'We're just trying to keep our child alive': life with FPIES

We have a beautiful seven-month-old son, and his allergy rules our life.

Transgender dad breastfeeds his babies

A transgender man who breastfed his first baby - despite having his breasts removed as part of his transformation from female to male - has now had a second child.

Couple face $1 million medical bill and bankruptcy after babymoon birth

A Canadian couple were slammed with a million dollar medical bill after their daughter was prematurely during their babymoon.

Win one of 5 Little Tikes Cozy Coupe Sport

Australia?s No 1 selling car is now available in a Sports model and we have 5 to give away to some lucky Essential Baby families.

Cigarettes, junk food dominate supermarket sales growth

One in every five dollars spent at supermarkets goes on cigarettes or junk food, according to industry data.

Teacher under fire for breastfeeding in class

There is no doubt mums have a right to continue breastfeeding after they have returned to work, but one teacher in the US has taken it to the extreme.

Video: Baby sniffs beardless dad to make sure it's him

She looks him up and down and then touches his chin, but baby Lindsey still isn't sure this clean-shaven man is her dad.

The tragedy of losing a favourite teddy bear

We were green and uninitiated, perhaps a little naïve when it came to the favourite toy responsibility.

It's possible to workout while pregnant

Medical experts say intense fitness routines can be done safely during pregnancy - if the mums-to-be follow some guidelines.

Baby for Asher Keddie and Vincent Fantauzzo

Fans followed every step of her on-screen pregnancy in Offspring, now Asher Keddie is going to be a mum in real life too.

What parents really want for their kids

Are our hopes, dreams and expectations for our children what they really need?

'I had a feeling something was seriously wrong': the fight for Kaden's diagnosis

Before even giving birth, Katie Myers' maternal instincts warned her something was wrong with her baby.

Win a family pass to Disney Live!

We have 4 family passes to give away to see Disney Live! presents Three Classic Fairy Tales, touring Australia this December/January.

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

Win one of 5 Little Tikes Cozy Coupe Sport

Australia?s No 1 selling car is now available in a Sports model and we have 5 to give away to some lucky Essential Baby families.

Join PADDINGTON on the red carpet!

To celebrate the release of PADDINGTON, we are giving five lucky winners the chance to win a family pass to the exclusive Australian Premiere in Sydney on December 7!

When your pregnancy causes a relationship rift

Some dads-to-be don't miss a beat when their partner is pregnant; others struggle with a range of issues and can become withdrawn, right when their support is needed most.

Couple uses group photo trick to announce pregnancy to loved ones

Katharine and Kris Camilli devised a clever trick to immortalise their family and friends' reactions to their exciting pregnancy news.

Why Tracey Spicer has given up make-up

"After 30 years on television, I had become what I despised: a painted doll who spent an hour a day and close to $200 a week putting on a mask."

Knowing you are one of the lucky ones

I am secure, confident and strong, but the responsibility of protecting my children can almost bring me undone.

Why I am so emotional now I have kids?

There are so many ways in which parenthood changes us as women, but one of the most noticeable, for me, has been the changing state of my emotions.

Baby survives despite sharing womb with 'foreign body'

Baby Maia was conceived against the odds, only to find she was sharing a womb with an ominous "foreign body".

Video: Baby shows dog how to jump - or vice versa

They say dog is man's best friend, but this playful pooch seems to have chosen a jumping baby as her number one buddy.

10 ways to soothe a crying baby

New paernts can get frustrated when their newborn gets fussy and can't settle down. When you're feeling overwhelmed, try some of these simple tips to help soothe your baby.

20 baby names that are becoming more popular every year

The data-lovers at nameberry.com have been at it again – this time, they’ve discovered the names that are continually rising up the ranks, ready to take out some top spots in the next few years.

10 great meals to make for new parents

Ideally, you want to give food that isn’t expensive to make, isn't too difficult to create, and freezes well; stews, bakes, soups and pasta sauces are perfect.

'It's not you, it's me': Boston bombing survivor mum to have leg amputated

Rebekah DiMartino is going through a break-up. She even wrote a farewell love letter. But it's not to her husband.

What it's like to go through early menopause

In a cruel twist, Carla had been breastfeeding and perimenopausal at the same time. But she's far from the only one to go through menopause early.

Weird pregnancy products

Some pregnancy products come to market and are just awesome. Others just leave you scratching your head.

Restaurant served alcohol to two-year-old

Busy restaurants can be forgiven for getting food and drink orders mixed up from time to time, but not when the confusion leads to a two-year-old being served an alcoholic cocktail instead of the child-friendly beverage they ordered.

Julia Morris tells of miscarriage on a flight

Julia Morris has spoken about the devastation of suffering a miscarriage while on an international flight.

Woman's survival after birth 'a story of two miracles'

A US mother is home and tending to her new baby less than a month after surviving without a pulse for 45 minutes.

Best maternity swimwear and beach cover-ups

Thinking about a tropical babymoon but have nothing to wear? Here are some great swimwear and beach cover-up options for mums-to-be.

Duchess's letter to grieving mum

The Duchess of Cambridge has written to a grieving mum on a "very difficult" day.

 

How many weeks til Christmas?

On your To-Do list

Get the "Santa" shopping done without the kids in tow.

 
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.