Real Estate Advertising - No Sale, No Fee

LLitchy64 on 29/11/2018 - 10:59

My agent has a 'no sale, no fee' policy - meaning he pays for all marketing unless a sale is achieved. Problem with that is, apart from a plain signboard on the property, he is only using realestate.com.au and only a standard advertisement. He also hasn't listed the property address in the ad.

After an underwhelming response so far, I'm wondering…
What are your thoughts on standard v feature ads - still smaller than the Highlight and Premium ads and only obvious difference is the banner above the main photo, but to me doesn't look so 'cheap'?

Also, re the address listing - to allow shy buyers a chance to drive by and checkout the property, the neighbours and the street in general, before exposing themselves to the pressure selling of an agent?

Financial

Comments

  • zond on 29/11/2018 - 11:02
    +22

    Run!!

  • zond on 29/11/2018 - 11:04
    +3

    On a separate note, a good agent is someone who will do anything to push your sell. If he is not doing it, are getting cheap return what you paid for, specially at this declining market.

  • one man clan on 29/11/2018 - 11:20
    +11

    How do you even advertise a property without an address? How are people supposed to find it in a search or go to an inspection? I'm as lost as buyers must be

    • Litchy64 on 29/11/2018 - 13:47

      The agent uses private inspections by appointment - so gives out the address only when an appointment is made.

      • one man clan on 29/11/2018 - 13:56
        +29

        Unless you're selling a property in the multi-million range, this sounds like a terrible strategy.

        If you're selling a standard house/apartment, why would I, as a buyer, need to go to more effort when the market is weak? I want to know everything up front before I go investing my precious time into finding more about your esoteric property. Address is something I want upfront to consider location compared to amenities and transport.

        Agree with the below posters about getting interest early.

        I'd walk away from this guy as fast as possible.

        • Litchy64 on 29/11/2018 - 14:02

          Yep, average 3 bedroom outer suburban Melbourne house. I agree with your sentiments… and wasn't aware when signing on that not listing the address was part of the strategy (although I was given a pretty good explanation for the merits of private inspections v open inspections).

          • ausdday on 29/11/2018 - 14:43
            +14

            @Litchy64: I, for one, never email agents for addresses. There are just too many options in realestate.com.au. Why would I spend time communicate with the agent, only to find out it's not what I want. And why would an agent want to hide the address if it's in a popular suburb.

            • ihbh on 29/11/2018 - 16:48

              @ausdday: If you think about it, that's a silly practice. Why do you want to compete for the in demand properties? Why not target the ones no one's interested in so you can get a better price?

              • ausdday on 29/11/2018 - 17:58
                +2

                @ihbh: Well. What I noticed so far, is not all properties listed with address are in demand hotcakes. And not all listings with hidden address are hidden gem, it's just extra steps and time are needed to find that out. In fact, my thought is the agent hides the address, so that when you initiate the contact, he will know you are interested, and thus you lose the upper hand. Just my 2 cents.

                • ihbh on 29/11/2018 - 19:01
                  +1

                  @ausdday:

                  so that when you initiate the contact, he will know you are interested, and thus you lose the upper hand

                  If you want to buy the property, you will eventually have to make contact.

                  • Quantumcat on 29/11/2018 - 20:35

                    @ihbh: Unless you're just doing a weekend round of inspections and this one happened to be on the way to the one you were really interested in

                    • ihbh on 29/11/2018 - 22:00

                      @Quantumcat: Who buys property based on an external inspection?

                      • Quantumcat on 29/11/2018 - 22:25

                        @ihbh: I meant you don't have to appear super keen. If the address and the times of inspections are given you can just casually inspect

                        • ihbh on 29/11/2018 - 22:38

                          @Quantumcat: And if you like the property, would you make contact with the agent?

                      • kiitos on 30/11/2018 - 07:44
                        +1

                        @ihbh: Probably few, bit I'd expect many could rule out a property based on an external inspection.

            • macrocephalic on 30/11/2018 - 10:06

              @ausdday: I've been using airbnb for years, I am quite good at identifying a property from a few external photos.

        • Name on 30/11/2018 - 16:32
          +1

          I agree! My first thoughts when I see a property on realestate.com.au without an address is "what is wrong with it, what is wrong with the location, why are they hiding the address"… Thinking next to highway, overhead high voltage powerlines or something equally as crap. So I don't bother and move on.

          • k15866 on 30/11/2018 - 23:52
            +3

            @Name: when i see a property without an address that I'm slightly interested in, I go full stalker mode and analyse each photo (particularly the external photos to try find out where the address it. I wonder if anyone else does this…

      • ihbh on 29/11/2018 - 15:05

        Does this agent use the Jenman/Pittard system?

        • Litchy64 on 29/11/2018 - 15:11

          Yes, Jenman.

          • ihbh on 29/11/2018 - 15:15

            @Litchy64: What you described is part of their system. Did they not clarify this in the listing presentation? See my comments/questions below.

            • Litchy64 on 29/11/2018 - 15:25

              @ihbh: No listing presentation as such. The relative merits of the different listing products on RE.com was discussed re value, I'm assuming a misunderstanding/oversight that the listing used isn't the 'Feature Property'.

              That the address wouldn't be shown in the ad wasn't mentioned.

          • VegemiteKid on 29/11/2018 - 15:16
            -1

            @Litchy64: There’s you’re problem

          • 88mph on 30/11/2018 - 08:55
            +3

            @Litchy64: Hey Op, I feel for ya… Me cousin went thru a vetting process for the sale of her place. I'm guessing they signed you up for 60-90days exclusive? Anyway, as others have said the Jenman system doesn't work in today's market. If you can, ride out the exclusivity period, nullify contract, and go for the local shark (i.e the agent in your local area which has the best sales results for properties of your calibre, data search freely available via a customised realestate.com.au Sold search). The local shark in her area didn't sell any fancy strategy, just got on and sold her place within a month, premier listing, 4.1K advertising+ 2% comms.

            Also, again as others have said, your Jenman guy might bring in some real low ball offers, stand firm if not happy, compare with recent sales as above, you can jump ship once the exclusivity ends.

            • ihbh on 30/11/2018 - 09:29
              +2

              @88mph: You need to be clear what best sales results are: a lot of sales, but at around comparable prices or more. Some gun sales people are good at conditioning sellers price expectations down, hence they achieve a lot of sales.

              That's a pretty big commission + marketing fee. A typical agent spiel is you get what you pay for and an agent that negotiates their commission down will let the buyer negotiate your price down. However, everything is flexible and you can negotiate with some of the better agents to get a good deal.

        • Bystander on 29/11/2018 - 19:28
          +3

          I'm seriously surprised the Jenman system is still being used by anyone. So many agents have tried it and dumped it for good reason.

          The basic premise with Jenman is that they want prospective purchasers to jump through hoops before they even get the basic information they need. In reality you want an agent that makes it as easy as possible for purchasers to find the property they want.

          When I look at property the first filter I apply is price and then address. Only after something matches my criteria will I consider going an open rather than a personal 1 on 1 tour with an agent.

    • abb on 30/11/2018 - 14:42

      How are people supposed to find it in a search or go to an inspection?

      You're not, but I find most agents are not very clever. I've often seen them list the street name only… with the number visible in the photographs.
      Other times they may only list the suburb, but have an aerial (drone) photo that doesn't take much to pinpoint if you're familiar with the area.

  • HighAndDry on 29/11/2018 - 11:23
    +7

    Well, you get what you pay for. Currently you're paying $0 so…

    Also,

    What are your thoughts on standard v feature ads…

    You realise that these are all great questions for a real estate agent you're actually paying, right?

    • Litchy64 on 29/11/2018 - 13:53
      +2

      Well, you get what you pay for. Currently you're paying $0 so…

      But I'll be paying if the property sells… and the quoted marketing costs are several thousand $$.

      You realise that these are all great questions for a real estate agent you're actually paying, right?

      The real estate agent I'm paying (if the property sells) is obviously trying to keep marketing costs to a minimum in case he has to wear those costs. I was just looking for another perspective.

      • HighAndDry on 29/11/2018 - 14:00

        and the quoted marketing costs are several thousand $$.

        This is standard. But you're basically asking an agent to be out of pocket to sell your property. Yeah - not likely.

        The real estate agent I'm paying (if the property sells)

        So the one you're not currently paying then…

        is obviously trying to keep marketing costs to a minimum in case he has to wear those costs.

        Yes, obviously. I get that you're trying to get another perspective - seeing as how noone who is a real estate agent has chimed in, I propose that "another perspective" is: Pay your real estate agent if you want results, going back to: "You get what you pay for."

        • Litchy64 on 29/11/2018 - 14:05
          +1

          Pay your real estate agent if you want results, going back to: "You get what you pay for."

          I will be paying him if he gets results - we negotiated what I think is a fairly generous incentive-based commission structure. If you're happy to pay marketing costs with or without a result… then each to their own.

            • Litchy64 on 29/11/2018 - 17:40
              +15

              @HighAndDry: Let me make it clearer for you. The no sale, no fee wasn’t something I negotiated to be ‘cheap’, it is the agent’s standard policy which he emphasized when I invited him to pitch for my listing.

              On the contrary, I have given him EVERY incentive to prioritise my sale ahead of others by offering him very generous (read 10-22.5%) bonus commission depending on the sale price achieved PLUS approx $3000 for marketing… if he achieves a sale.

              You obviously only care about throwing barbs at people who come on here politely asking for other’s views.

              • Entropy Sky on 30/11/2018 - 20:56
                +1

                @Litchy64: The longer you are here, you will find a certain group of people who graduated from Royal College of OZBargain.
                They specialise in Omni Knowledge of Cosmos, going after every single one who have slightest different view point to theirs.

                I was wondering why Ozbargain's review from many other site was so bad the last few years, until I saw their jabs at almost every single thread OP+ different opinion and view point.

      • one man clan on 29/11/2018 - 14:00
        +1

        Can you find your listing if you search yourself using the app? Does it come up in area searches as a listed property on the website realestate (like when you hover over your suburb and press "search this area" on the map)?

        • Litchy64 on 29/11/2018 - 14:18

          Hadn't searched in the app… but no, it doesn't show on the map when using "search this area".

          • one man clan on 29/11/2018 - 14:25
            +3

            @Litchy64: Yep thought so. This is a problem because you could be missing lots of results that way - I would browse like that a lot when I was a purchaser.

            • Litchy64 on 29/11/2018 - 14:35
              +1

              @one man clan: Thanks for that info. I'll go back to the agent and suggest a few tweaks if things don't pick up soon.

      • [Deactivated] on 01/12/2018 - 07:18

        So you’re already paying for the advertising but I’m the future. Is the agent elusive about what they are going to charge you?

  • MoonlapseVertigo on 29/11/2018 - 11:46
    +1

    no one gives a free lunch anymore. Sounds dodgy.

    Generally you have 4 weeks to attract as much attention as possible to your property. You want to be top of the list on RE websites. You want to list your address so potential buyers can google your address, attempt to check council related prices and all that jazz.

    Drop this guy and get a legit agent OR risk being stuck on the market for potentially long time - all because you want to save a few bucks

    • Litchy64 on 29/11/2018 - 13:58

      Drop this guy and get a legit agent OR risk being stuck on the market for potentially long time - all because you want to save a few bucks

      Several thousand bucks actually. Have you seen what the real estate sites charge for premium or highlighted ads?? AND with other agents I'd be paying whether a sale was achieved or not.

      • HighAndDry on 29/11/2018 - 14:02

        AND with other agents I'd be paying whether a sale was achieved or not.

        You seem to think this is somehow outrageous or scandalous or ridiculous. But this is how it works in basically EVERY OTHER marketing endeavour not named "eBay" (and even then, only sometimes). If you're buying ads somewhere - anywhere, you pay for those ads, even if nothing sells.

        • Litchy64 on 29/11/2018 - 14:09
          +1

          If you're buying ads somewhere - anywhere, you pay for those ads, even if nothing sells.

          You don't (as an individual) usually pay thousands of dollars for a small web-based ad that costs the site owner next to nothing to provide. Again, your approach to money might be different to mine. I thought I was on an OzBargain forum.

          • HighAndDry on 29/11/2018 - 15:38

            @Litchy64: I had a much longer comment planned, but I'll summarise it thus: When you're selling something worth hundreds of thousands of dollars (or more), and already paying at least tens of thousands in commission, an extra thousand or so to improve its marketability and the sale price is a valid option to consider. Think of it in ROI terms.

      • arescarti42 on 30/11/2018 - 22:16
        +1

        Prices in Melbourne and Sydney are failing at a rate of about 1% a month at the moment. That's around $2000 a week on the average $800k house.

        Having your house take a few weeks longer to sell because you decided to save a few thousand on advertising could be a costly mistake.

        • Ash SA on 30/11/2018 - 23:40

          ^^ this.

          • Litchy64 on 01/12/2018 - 12:38

            @Ash SA: But I didn't decide to save a few thousand on advertising. I agreed to a total fee structure that is meant to include just shy of $3000 worth of advertising… payable if the property sells. I think the issue is more around how much (or little) of that $3000 has been spent.

            What influenced me was avoiding wasting thousands of dollars in advertising if this agent isn't able to sell the property.

        • ihbh on 01/12/2018 - 10:37

          To compound matters, we're heading into the Christmas/New Year lull period.

  • kolorijo on 29/11/2018 - 11:52

    Beautiful photos, proper listing, top of the list on websites such as domain & real estate are paramount to get people interested to do inspection

  • Ryanek on 29/11/2018 - 12:36

    I'm no expert but I would think an address is pretty important.

  • Typical16-bitEnjoyer on 29/11/2018 - 12:57
    +2

    Is it possible that the address is missing so he can substitute the pictures and description for different properties without paying seperate realestate.com.au fees?

    • No ONE on 30/11/2018 - 14:21
      +1

      Then that would be a really cheap and horrible agent. Real estate listing website has filters where buyers can filter out old listing if they have been browsing for quite a while.

    • blighst on 30/11/2018 - 21:35

      I know REA has changed their pricing structure on some Commercial packages by making every new listing automatically 'upgraded' (but reducing the rate to upgrade the listing and slashing the annual licence fee). I dunno if that applies to Residential listings too, but if the listing is 'featured' something like this could be the case.

      Once again idk about residential, but with commercial it used to be an annual subscription and unlimited listings (unless you upgraded them which you'd pay), before the new pricing structure (which means this theory wouldn't be right)

  • tomsco on 29/11/2018 - 13:21

    Does the statement of information state the address?

    • Litchy64 on 29/11/2018 - 14:14

      No.

      • tomsco on 29/11/2018 - 14:50

        Ah, damn. Thought I'd ask because I still see that odd one where price or address is suppressed in the ad, but shown in the SoI.

        Not sure if it's been discussed above, but I'd be expressing my annoyance to the REA as some people may search using map view. Ie. They want to capture a few suburbs, but rather then listing them all, just hover over the map and click search hear. Your property will be omitted from this search.

        • Litchy64 on 29/11/2018 - 14:57

          Yep, will be doing that… thanks.

        • HighAndDry on 29/11/2018 - 15:42
          -1

          I'd be expressing my annoyance to the REA

          The REA is next to useless at the best of times, but the moment OP tells them "Oh yeah, I opted not to pay any marketing fees unless the ppty sold", they'll laugh to themselves and drag OP's emails to the trash folder.

          • tomsco on 30/11/2018 - 10:03

            @HighAndDry:

            "Oh yeah, I opted not to pay any marketing fees unless the ppty sold"

            I don't think that really has anything to do with it.

            By putting the address as part of the listing, the ad will possibly reach more people at no further expense to the agent.

  • ihbh on 29/11/2018 - 14:44

    How long is your exclusivity agreement with the agent? You can't do anything until it expires.

    • What is the agent's track record? e.g. how many sales in the last 12 months? How do the sales compare with comparable properties - e.g. on the low side, average, high side? Are they good at getting the highest out of buyers or conditioning sellers to sell low.
    • How does your commission & marketing fee compare to other agents? E.g. 1.5% + GST + $3k marketing.

    1. No sale, no fee takes the risk out of the sale for you, especially if the agent is good. Having said that, the agent shouldn't cheap out on photos. Did they use a professional photographer? Can you include a link to a standard photo (not yours). It's okay to just advertise on RE.com.

    2. Not including address lets agents qualify buyers - e.g. tire kickers or genuine. In the current falling Sydney/Melbourne markets, the interest from buyers is very scarce unless the property is priced cheaply.

    allow shy buyers a chance to drive by and checkout the property, the neighbours and the street in general, before exposing themselves to the pressure selling of an agent

    I don't think this occurs in real life, and definitely not in this buyers market. An agent that fines a genuine buyer will kiss their ass. You need to be clear on your walk away price and sell if the right buyer comes along.

    E.g. A couple of months ago I was able to negotiate an agent commission + marketing fee 2/3 of another and both were capable agents; the one I used had the most sales in the next suburb and got strong prices and it was a no sale, no fee arrangement (and the photos and video was superb). Note: I am experienced at doing this and the repeat business could have played a part in this.

    • Litchy64 on 29/11/2018 - 15:19

      How does your commission & marketing fee compare to other agents? E.g. 1.5% + GST + $3k marketing.

      I negotiated a 3-tier fee structure, starting at approx 2% incl GST & marketing at the low end, adding generous % bonus commission (in 2 bands) for achieving a higher sale price.

      Did they use a professional photographer? Can you include a link to a standard photo (not yours). It's okay to just advertise on RE.com.

      Yes, professional photographer. Description of the four listing products on RE.com: https://help.realestate.com.au/hc/en-us/articles/11500216844…

      • CheapSticks on 30/11/2018 - 12:34

        hi

        in the area i live in - there is one real estate agent who uses the same approach as what your agent is doing i.e. essentially fee on success only.

        In an market on the up, probably can work out well. In the market like today, pretty bad strategy - his focus will be to just sell yours and save his costs. Your property is actually a marketing tool for him to be visible in the market.

        • kkmenon1156 on 30/11/2018 - 15:43

          gimme the link. i'll buy it.

  • altomic on 29/11/2018 - 14:52

    is it a mobile home? then I could understand not having an address.

    I just sold my house.

    real estate agent fee was a flat 2%. which included online advertising (domaine, realestate.com.au, photos + billboard out front). sold in 5 weeks. which, when looking at other houses for the neighbourhood, was good.

  • pyramid on 29/11/2018 - 15:22

    which RE agent is this?

  • VegemiteKid on 29/11/2018 - 16:32

    Ok the reason jenman agents don’t give addresses is because they are big on showing multiple properties to a buyer. So ‘meet me at my office & I’ll drive you’ or ‘you can follow me. It’s part of their sales pitch.

    It’s all about them having knowledge the buyer doesn’t.

    • ihbh on 29/11/2018 - 19:04

      Good summary. How did you get exposure to the system?

      • VegemiteKid on 29/11/2018 - 19:17
        +2

        20+ years industry experience & watching jenman agents annoy buyers & undersell homes

  • elgrande on 29/11/2018 - 17:02

    The market is pretty flat at the moment. You may get more interest with a standard marketing campaign, but the offers are still likely to be shithouse. Everyone is after value at the moment, in Sydney atleast.

  • jv on 29/11/2018 - 22:45
    +6

    Just use ebay or gumtree

  • [Deactivated] on 30/11/2018 - 09:23

    So this "REA" is signing up your property with minimal encumbrance to himself and if he sells it, he gets a commission.

    Worst case scenario, he loses some spare change. If he sells it, it's tens of thousands for his pocket.

    Best deal ever. For the REA.

  • chuckles89 on 30/11/2018 - 09:38

    Does the ad show up in the suburb listing? An exclusive/premium agent in my area don't like to post up addresses but a real estate ad on the suburb and the house listing will be available.
    It seems its to deter non genuine interested buyers from just showing up at the inspections and to gain genuine interest

  • catinjapan on 30/11/2018 - 10:19

    I signed with an agent that employed this approach and ended up going with a 'regular' agent (one of the main franchise ones you see everywhere) in the end. Not only did I waste several months listing it with the first agent, by the time I had signed with the 'regular' agent, it was coming up to Christmas and wasn't the best time to sell.

    The plus side is that it's easy to get out of the 'no sale, no fee' agreements. I literally just went into their office and said I was taking it off the market and that I wanted my keys back. I then later followed up with an email to confirm.

    • Litchy64 on 01/12/2018 - 12:08
      +1

      The plus side is that it's easy to get out of the 'no sale, no fee' agreements. I literally just went into their office and said I was taking it off the market and that I wanted my keys back. I then later followed up with an email to confirm.

      Did you have a current exclusive sale authority with the agent?

      • catinjapan on 02/12/2018 - 20:38

        I signed a 3-month sale authority with them. I tried to sell the flat as-is but it wasn't moving, so I started renovations. It was during that time that the agreement lapsed.

  • cardboardbox on 30/11/2018 - 10:28
    +1

    Terrible approach. Run!

    For a view from the other side, I recently spent my weekends inspecting up to 8 open houses every Saturday morning for months, there are so many options and difficulty scheduling the open houses.

    The aim of the game is to avoid direct contact with agents as a buyer.

    With too many options the last thing I’m going to do is to organize a private viewing where I am forced to talk to the agent and hand over my contact details, only to be harassed for months on end afterwards by them. That’s 5-10 agents every weekend for 6 months who think it’s a good idea to call me incessantly during working hours to ask me why I don’t want to buy a house that I had politely told them I wasn’t interested in at open house.

    It’s a buyers’ market now, not a sellers’ market so make it easy for the buyers.

    Sounds like your agent is both lazy and a terrible salesperson.

    • TheMindsetTraveller on 30/11/2018 - 11:33

      "The aim of the game is to avoid direct contact with agents as a buyer"

      And I am the complete opposite. Building positive relationships with agents (especially when are you ready to buy) is extremely beneficial. They will often 'help' find a suitable place for you, or give you the heads up when a new property will come onto the market. It goes both ways because the agent then can gauge what the market is like when a regular 'buyer' views dozens of property within an area and provides feedback.

      Obviously the market is different now but having an agent who is willing to work with you is way important than being an anonymous/random buyer.

      • No ONE on 30/11/2018 - 14:30
        +1

        They will often 'help' find a suitable place for you

        Like a banker, they often have the heart for your interest.

        • TheMindsetTraveller on 30/11/2018 - 15:16

          Be skeptical about what their intentions are ;)

          However like with all things in life, you could easily use them to your own advantage if one is savvy enough.

  • myusername on 30/11/2018 - 12:10

    is this through Purple Bricks?

  • polishka on 30/11/2018 - 13:50
    +1

    May as well list it yourself on realestate and get some signs through a third party for $300. Thousands for marketing to list on realestate? No open homes… again do it yourself for free. What are you actually paying him/her for?

    • MITM on 01/12/2018 - 11:00
      +3

      ^^ We did this in a down market. Saved 10’s of 1000’s. Think of it as a free car as a reward.
      We listed address, lots of great photos, floor plan and 1 hour open homes 10AM + 3PM Sat & Sun. Nil by appointment. Never needed a signboard. You only need RE & Domain com.au and a great solicitor. It’s a numbers game.
      Set up security camera at front door for clear vids of each punter for peace of mind.
      Punter signed in and showed DL or didn’t enter - didn’t matter if phone number was false, they were never going to buy. Escorted punter 1 at a time through the inspection (giving sense of exclusivity) while partner waited with next punter to subtly determine if a good prospect. On the way out and in front of next punter I directly asked “will you consider making an offer because we have a contract ready to take away” Answer was always “maybe, will let you know, have other places to see, talk to my partner etc.” It was never NO or negative.
      This puts pressure on the next punter which is then escorted by my partner having built a rapport while waiting. Tag team.
      If a punter turns up after the 1 hour, be firm, let them know the next slot - they won’t turn up. a) you stay in control b) punter knows you’ll be a hard nut to crack.
      You eventually know who the buyer is - it oozes out of them. You’re now at the mercy of their banker and your solicitor takes over - this is who you spend your money on.
      Edit advert with Under Contract and you’ll get calls with “we were going to put in an offer”. Let them know it’s not a done deal and you’ll keep them informed.
      Let them know the Sale price. (It’ll soon be public knowledge anyway and it’s approximately what you want from a backup buyer). Ring them every 2 days until they tell you they’re out of the game and of course if you’ve settled.
      Helps to be methodical and systematic but it was also fun and memorable all these years later. It’s so much easier to self list these days - who needs a REA anyway.

      • Litchy64 on 01/12/2018 - 12:14

        Thanks for passing on your experience… great info.

  • max2million on 30/11/2018 - 15:13
    +1

    An agent who operates like this is more concerned about getting ANY sale. If they don't sell it they get nothing, but if they do they get their costs back + some income. It's not in their interest to get the best price, just a sale at any price.

    Selling something for an extra $25,000 means a lot to you, $24,375, but only $625 for them (assuming 2.5% commission).

  • HeWhoKnows on 30/11/2018 - 16:31

    All agents are NO SALE, NO FEE

    But some do charge for marketing which is only payable in the event of a sale.
    (or if you withdraw from the contract)
    For about $1,000 you get a premium package.
    So this is your best option

    But dont extend beyond the standard 90 day term of the sale agreement.
    And be very patient in this market.

    Whilst you are looking to get the most money, buyers are looking to pay the least money.
    And this is a buyers market so be prepared to buckle.
    Also be very wary of agents quoting valuation well above the others.

    You can do your own research by going to realestate.com.au and checking out the recent sales in your area.

    • ihbh on 01/12/2018 - 10:43

      And be very patient in this market

      Only if you think we're at the bottom of the market.

      If you expect it to continue to fall say another 10% at 1% a month or so, then you take the first genuine offer, especially since finance is hard to come by with the crackdown on lending practices by APRA.

  • Herbse on 30/11/2018 - 23:34
    +1

    I don't get why people use agents these days. You can do everything yourself.

    • ihbh on 01/12/2018 - 13:14
      +1

      They live far away and it's an investment property are some reasons.

  • Pythagoras on 30/11/2018 - 23:36

    The longer it stays on the market, the more stale it gets, the more people think there's something wrong with the property, the more reason for buyers to fine you a low ball offer.
    Get another agent (one that had sold and knows properties in your area), negotiate the fees, spend a bit of money on marketing (Not necessarily the Premier package, dusk photos are nice) and for the love of God, add your address to the advertisement!
    Goodluck.

    • ihbh on 01/12/2018 - 10:46

      The longer it stays on the market, the more stale it gets, the more people think there's something wrong with the property, the more reason for buyers to fine you a low ball offer

      That was the conventional thinking. Some buyers might focus on listings that have been on the market for a while because they don't want to deal with new listings thinking the sellers might be unrealistic with price.

      dusk photos are nice

      Typically add another $300 or so because the photographer has to come back later in the day to take another photo(s). It might look nice, but I wonder how many people buy because of the dusk look?

      In a weak market, you need to optimise your costs, including commission, marketing/photography etc.

    • Litchy64 on 01/12/2018 - 12:17

      and for the love of God, add your address to the advertisement!

      Think this nicely summaries the general consensus re showing the address.

      • ihbh on 01/12/2018 - 13:13

        Some traditionalist Jenman system agents still persist without the address to qualify the buyers, but many automatically include the address. Check to see how flexible your agent is.

  • Kranbone on 01/12/2018 - 10:06

    If I'm looking for a house, I'd like to know the address. By denying me the address, you're denying me the chance to do more research on the property (unless I call the agent, that is, if I can get through). You want to remove the obstacles when selling a house.

  • tessel on 01/12/2018 - 10:19

    Forsalebyowner nuff said.

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