Selling a house without an agent: your options (part 2)

by Chris Lang on June 1, 2009

A woman makes for sale by owner signIn my previous post I didn’t get to the explanation how to advertise your house to reach the most buyers. Exposing your house to the maximum of buyers can be achieved in a number of ways:

1. You can advertise on Domain.com as a private seller directly (as opposed to via some sort of agency or a company). At this time it is impossible for a private seller to advertise on Realestate.com.au directly, as they deal with real estate agencies exclusively.

2. You can get a company named Lawyersrealestate.com.au to advertise your house for you on both Domain.com and Realestate.com.au as a part of a package of services they offer to private sellers. The rest of the package includes photography, negotiating and conveyancing.

3. You can get your house advertised on both Domain and Realestate.com.au via a website http://www.forsalebyownerrealestate.com.au. This is a new service, I’ve just found out about it a couple of days ago.

The costs

Sign board 900x 600mm: $50 – $75 (the simple one without the photos)

Property photography: about $200 – $250

Advertising:

1. LaywersConveyancing.com.au: $4400 for the whole package, if your house is sold within 3 months. If not, you will be paying for advertising alone. Don’t forget to add 400 for the property valuation.

2. Domain.com for a month – $500

3. http://www.forsalebyownerrealestate.com.au: $300 for the first month and $80 for any additional month until property is sold.

Comparing the 3 options, here is what I think:

1. Domain.com alone won’t get your house the optimal exposure.

2. Lawyers real estate is cheaper than the agent’s fees and they include the conveyancing. However, they require a valuation by a professional property valuer which costs about $400 and takes a week to prepare. Another disadvantage is that they are setting the price range around the valuation, which could mean that the price you are after won’t be achievable.

3. The third way looks the best to me, because it covers both major websites and there are no “extras” in the bundle that you can live without but must pay for. There is a warning though – according to the policy of realestate.com.au they don’t accept listings from private buyers and this company could be promising something they can’t deliver. Buyers beware, as always.

And now over to you – have you tried to sell your own house? How did you do it? What was the outcome?

{ 3 comments… read them below or add one }

Home Builder August 1, 2009 at 10:31 pm

Great analysis, selling your home can be a stressful experience and when you get information, such as you have provided, to help you with the general decisions it makes the stress all that little bit less. Especially giving the full facts with option number 3 which can get some people in a pickle I would imagine. Sorry I don’t have any tips to leave for other readers.
Thanx

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Sarah Lamore August 13, 2009 at 3:18 pm

I like to do things opposite. Sell my house on my own and use an agent to help me buy the perfect house.
To me that makes more sense. Buyers come to you from advertising. So keep the phone on and the house open.
But as a buyer you have to do all the running around. So hire a buyers agent to do that for you. I used Sydney Buyers Agent She did all the leg work and I only had to bother with houses that ticked every box. Soooo easy!!!

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Greg January 9, 2011 at 7:03 pm

Wow they are expensive packages to market a house for sale by owner.

People use more then one media to source and buy property and this is where these guys at http://www.sellingmyhouse.com.au are sure to succeed.

Growing numbers of buyers just type in search terms into Google search and be presented properties. Selling My House top package at only $795 deliver houses for sale by owner marketing strategies that included Google marketing with hot links to the sellers listing on their site, plus Domain.com.au plus colour photo signs, sellers manual and can even deliver custom press ads unique to sellers post codes / suburb to source local buyers for the private house sale owner, cheaper then what is being quoted in the other blogs.

Supporting the site’s usage of multimedia strategies for private house sales is research conducted by Nielson Online Media in the New Zealand property market (similar market to Australia) and indicates the time spent by house buyers searching to buy property via the major property web portals is only fractional to all the media they utilise to buy property. So if you are going to sell your house privately it’s a matter of looking to your media mix.

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