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Offline Nobleambitions

  • Back from the naughty corner.

  • Joined: Jun 2011

  • Location: Sydney, NSW
Real estate agents are an unscrupulous bunch. I remember doing work experience at an agency a while back and had to make an online advert for a property with a train track within a few meters from the backyard, but no railway station for 15+ minutes on either side. Once I was done, the lady supervising me just walked up and added "close to rail" at then end of the ad. I suppose it's good you're on the selling side right now.

Oh, and don't forget to get a great conveyancer!

Offline Brenton

  • 300kph+ club
  • DJ's like a mad ...........

  • Joined: May 2009

  • Drives: Yes
  • Location: Adelaide

Offline kailin

  • Joined: Jun 2010

  • Drives: 535i
  • Location: radelaide
Well my little monkey has out the Family cage and it is time to sell.
I have never sold a house before and am starting a bit of research before I contact the agents.

Is there anything I should know first?
what sort of costs are normal?
What are the costs I can avoid?

What traps for young players should I avoid?

Cheers in advance

i reccommend these guy's sold our house and new nieghbours house great repuatation, first agent we went with took 3 months then gave up on him, then went with these guys sold it within 2 weeks...

Offline smileone96

  • Joined: Oct 2008

  • Drives: Black Cars
  • Location: Adelaide
In the past, my best success with agents is to offer them a sliding scale commission whereby after a certain sale price, they get a much higher % on the amount above the sale price. Seems to make them work harder!! I figure if they are on a nominal or fixed % of say 2% there is not much incentive for them to fight for an extra say $5000 for u, a more generous sliding scale may make them work a little harder.
Agreed. I have worked with or dealt with many agents around Adelaide, and would be happy to give an opinion if you wanted about anyone specific you might choose to use if I am familiar with them. One of my main businesses is property, and I spend many tens of thousands of kms on the roads looking at properties all over Adelaide metro just about every weekend.
One has to be careful with the advertising as it can quickly eat up thousands of dollars. Make sure they are not taking additional "commission" on advertising either and are just passing on the actual advertising costs. But you should tailor the advertising to suit the property - no point being stingy about it. As the other guys have said, make sure your house looks the part as well.
I think also the agent rather the company is also important. I have dealt with many, many agents over the years, from all the agencies and found good and bad.
Your commissions will generally be lower if your property is worth more - for example over $1M you should be able to push below 1.2ish percent. I would suggest you get a couple of quotes, look online at realestate.com.au and see what else is on sale around the area, pull RP Data to see recent sales/sales history too. Visit a couple of the agents you might be interested in at open inspections that are similar to your own, to see how they are performing for other people, BEFORE you have them come and give you a quote. See if they take your details, bother to check up on you a couple of days later, show an interest in the sale etc.
I am happy to refer agents to you from a variety of different companies as well if you like. Just let me know via PM or my email at info@godental.com.au
Best of luck!

Offline alvchua

  • Joined: Aug 2009

  • Drives: Old junks
  • Location: Adelaide
Fwiw, I have encountered, bought from or sold through and even had property managed from most of those mentioned this far in this thread!! Don't think any agency can be labelled or tarnished with just the one brush! In my experience, it largely depends on the agent handling your sale or for that matter, in the case of a lot of the "name firms", the lackie assigned to ur property. A good start is even doing an online search an sending some online enquiries and assess how quickly or how thoroughly your enquiry is responded to! I guess you'd hope that the same efficiency is reciprocated when u list ur property on the market with the same company! At end of day, someone will always make some money and if the vendor is happy ultimately with the sale price, that's all that matters regardless of the % commission paid. The property will ultimately sell itself IMO regardless of the agent unless of course the buyer ends up seriously pissed off with the attitude or arrogance of an agent! Must say though in the last 5 years, I'm terribly inexperienced with the residential market having stuck to a commercial portfolio. Still have a few good blokes I keep in contact with if ur stuck, just pm or ring me! Best of luck in the search, Brenton.
Forgiveness is easier to achieve than permission!

Offline M500

  • Joined: Apr 2008

  • Location:
  • Drives:
First of all, good luck with the process if this is your first time.

Lost of good advice so far in this thread, especially the sliding scale commission, it really works if you get an agent who understands how it works (many don't and if they don't, don't use them as they probably don't have enough brains to successfully sell your house if they can't grasp this issue fundamentally).

I also add that unless you have supreme confidence in your asking price, I would spend a few hundred dollars in getting a registered Valuer to come out and conduct a proper valuation of your place before you speak to any agents at all. This way you will be armed with an independent, unbiassed opinion on the value and you can soon see through the bullshit that some agents will try to put on you.

Offline TEZZA

  • Those Frenchies seek him everywhere

  • Joined: Oct 2011

  • Drives: No matter what it is I am still lusting after something better.
  • Location: In a sunny place

I have owned a lot of property and made a living for quite a while speculating in it quite a few years ago. I am not a real estate agent.

Not all agents are crooks, but a lot of them are sleazy and unethical. They want to sell your property and make the Commission, but they don’t really care if they get you the extra $50k because selling your house for say $500k pays them a whole lot more than not selling it for $550k.

Dodger is right about tidying it up and getting out all the unnecessary crap. Put all surplus stuff into storage, or somewhere else you can get for free. Make it tidy And MHH is right about doing it yourself. In about 70% of cases most people simply don’t have the skills to do it. But you might if your people skills are good and you have the spare time.

A smart idea is to go to open houses or just go looking. See how the agent you are with treats his job of selling the house. He is after all working for the person who pays him, and that is the Vendor. He is not “the mate” of the buyer. I have had some agents make appalling statements to me when I have been looking that if I were the vendor I would have been really pissed at.

With data gathering these days any good agent will be able to produce comparable properties to yours that have sold recently. You should go look at these from the kerbside and make your own decisions about value. Be guided but not led down the garden path.

If you do all you work beforehand, and get a good agent remember that some of your early offers can be your best offers. I have been stubborn a few times with early offers, and sold it 4 months later for less. Experience is a brutal instructor.

If you think dealing with a professional is expensive, wait until you use an amateur.

Offline hydie

  • Joined: May 2009

  • Location:
  • Drives:
If you want some comparable sales of similar properties in your area, so you can see what range your looking at, shoot me a PM. :)

Offline amgsl55

  • Tooth hurty

  • Joined: Feb 2011

  • Location: Adelaide
I second MHH's suggestion of Oran Klemich, though I have never used him I have heard many good things about him.

Though I take a buy/hold approach, the developments which I do sell i have an agent which i have negotiated a flat fee of $5k plus advertising cost -  however should I sell my own house I will probably use Oran's firm or the like.  In the end the house will sell itself if it's presented correctly and priced right.

The firm will help in attracting the right socioeconomic sector to your house - the house will do the rest

Offline CortinaD

  • Joined: Jan 2008

  • Location:
  • Drives:
Isn't there an app for that?

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