03
January

Private House Sales

Written by admin. Comments Off Posted in:

Private house sales whereby the vendor sells their property without the use of a real estate agent, is a fast growing phenomena in Australia. More and more vendors are deciding to sell their house privately, through such websites as www.forsalebyowner.com.au

What then are the advantages to the vendor? With real estate commissions of around 2.5% of the purchase price, a vendor would be paying around $12,500 in commissions to the agent (in addition to advertising costs) on the sale of a $500,000 property. By selling the property themselves, the main advantage to the vendor is therefore the great savings in commission payments. The vendor may choose to keep this portion of saved money themselves, but they may also choose to split this commission with the buyer; a scenario which not only benefits both parties, but one which also allows them to market their property at a more competitive price.

Imagine that two vendors are selling identical apartments in the same block, but with one able to sell their property at $7,500 less than the other vendor, whilst still saving themselves thousands of dollars in commissions which do not need to pay. The ‘For Sale By Owner’ is in a much stronger position, and the chances are that their property will sell much faster. For buyers, the same principal also applies, where they may be able to pay less for a property that they otherwise would, if the vendor was selling through an real estate agent. Over and above this, the negotiation process when dealing with a vendor directly can be much faster and less complicated without the agent as a middleman.

Interested in exploring the possibilities of Private House Sales, either as a seller or as a buyer? Why not visit www.forsalebyowner.com.au and explore the possibilities.