I’ve been writing articles and property features for HomeSell for almost two years. Since I began, we estimate that over 1 billion dollars worth of property has been sold through HomeSell saving customers like you $45 million in real estate fees! This is absolutely fantastic (particularly for those of you who have saved up to $30 000 dollars!) But perhaps this has created an unreal expectation from some customers.
It seems that many of our enthusiastic clients who have made the decision to sell privately and paid their advertising costs have then signed over their home to a real estate agent only three weeks later. Many HomeSell clients haven’t even negotiated to continue with their own marketing meaning that an agent could take $20 000 commission on the owners own sale!!!
With the market slowing a little I thought this was the perfect opportunity to let HomeSell customers know what they might expect from the process of selling privately.

1. Expect to do your homework! This is particularly important in determining a fair price. You need to compare your property with others in your area (considering section size, number of bedrooms/bathrooms, age of home and overall street appeal) QV Valuations have a range of valuation options to help you with determining price but your own research is useful too. Asking a fair price is probably the single most important factor in achieving a successful sale.

2. Expect to be hassled by real estate agents! They only make money if they get listings and sell houses. Many will tell you things to erode your confidence so that you will list with them. Ask yourself why you decided to sell privately in the first place and what they can do that you can’t. After all you know all the fantastic things about living in your home and have done your homework on price. You have got excellent profile from your HomeSell and press advertising (broader than many real estate companies) and you have your lawyer all ready and waiting for that first offer to come in. Be patient or you may end up thousands worse off!

3. Expect to be hassled by real estate agents! I have written this twice because you will get some agents who just don’t seem to get the message. Respond to their calls with a simple ‘Please respect my decision to sell my home privately. I am confident that my marketing strategy will reap results.” (Feel free to use stronger language if they persist)

4. Expect to do more housework than usual! Presentation is very important as you want your home to appear easy care and uncluttered. Consequently you should expect to be on the end of a vacuum cleaner and toilet brush far more than usual during the marketing period.

5. Expect people to look through your home and open up your cupboards. Don’t hover too closely just be friendly and available. Think about the process of how you would deal with an offer. Would you like to chat in person over a coffee, talk on the phone, give them a Sale & Purchase agreement to take to their lawyer or do you want potential buyers to deal directly with their/your lawyer. How you deal with the offer may depend on the individual buyer but it pays to have thought the options through so you convey confidence. It is actually very easy so don’t stress about it!

6. Expect that your home may not sell in a week. The quickest sale HomeSell advertised took 2 hours (straight off the internet) and the longest took 12 weeks. Don’t panic!!! The market seems to have slowed a bit and you are probably noticing real estate agent signs are taking longer to get the sold sign across them and that houses are being passed in at auction. The average HomeSell property is currently taking 30 days to sell (which is 6 days longer than three months ago)*. That’s fine! If you are sure of your price and your home is well presented then you are 90% there.

Other facts

* Let your lawyer know that you are selling privately. He/she will probably give you a few Sale & Purchase agreements to pass on to potential buyers. Ask for an after hours phone number too in case you would like some advice should a buyer (or two) want to make an offer during the weekend. Generally speaking you shouldn’t have to pay your solicitor any more for a private sale than an agency sale.
* If you do decide to list with a real estate agency then you are still legally allowed to sell your own home PROVIDED you note this on the agency contract. An agent may tell you that you must remove your HomeSell sign and advertising but there is no obligation from you to do so. You have paid for your advertising through HomeSell and are entitled to market your own home regardless of whether you also sign on a real estate agent (or multi-listing). Ask yourself whose interests are at heart when considering these requests.
* Look carefully at your price before considering listing with an agent. They don’t have a magical way of conjuring up buyers so you’ll be really disappointed if you end up dropping your price and also losing 3.9% in commission + GST. Remember the strategy to reach buyers is the same whether the market is strong or weak. If your home is well presented, well advertised and fairly priced then you have every chance of selling!

Don’t panic!!
* Congratulate yourself on having the courage to take control of the house sale process. Not only are you saving thousands of dollars but you are deciding when and how your home is advertised and who you would like to buy it. If you need some moral support then just give us a call… we’re here to help!