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  1. #11
    Join Date
    Oct 2007
    Posts
    174

    Default

    It could be a win-win-win
    win for you, easy sell, low work
    win for purchaser , easy buy, less diligence work.
    win for agent, no marketing, vendor and purchaser already found.

    The agent still has to do work, negotiation on behalf of vendor, getting contracts signed, agency fees etc but a lot of the running around, open homes and wasted time is removed.

    B and T rates are
    • $300,000 of the purchase price* 3.95%
    • On the balance of the purchase price* 2.0%

    plus GST


    Based on that I'd offer 2%+ GST commission.

    My sell price for mirror place would be the same price as the other one Plus commission, 7 day listing only.

    Try it out for a week, don't drop your price, don't sign up for longer unless an offer is presented to you.

    Be prepared to sell your house, ie where are you going to move to?

  2. #12
    Join Date
    Jan 2010
    Location
    Hibiscus Coast
    Posts
    1,799

    Default

    Quote Originally Posted by Keys View Post
    Oh, come on guys. This vendor has no need to sell now. I wonder if the agent has knocked on the door? Possibly. What would 0.5% actually be in terms of dollars? Let's say it sells for $400k. You are looking at $2k commission. What does the agent need to do for this? Take the (ahem) three qualified purchasers through? In all of one day each? No marketing, no rushing around with tyre kickers etc.

    For little more than a few hours work he gets $2k.

    Or, is that not enough for you lot?
    The agent wouldn't get the $2k, his office would take $1k plus and he would get the rest.

  3. #13
    Join Date
    Apr 2009
    Posts
    950

    Default

    I can sell it for you for 1%. I can put it on trademe and those same 3 buyers will receive it in their email the next day. If you give me $100 I will put a for sale sign out front also. For another $300 I can do a 2 week tender process and may achieve an even better result.

  4. #14
    Join Date
    Dec 2013
    Posts
    102

    Default

    I have recent experience in a similar situation. The owner of the unit below mine had been trying to sell his unit through one of the low commission agents for over a year with absolutely no luck. He then changed to a more mainstream agency, and the new agent managed to presented multiple offers to the vendor within a week and a sale went unconditional in just 3.5 weeks.

    When I heard about this from the vendor, I contacted his agent and asked him if any of the back up purchasers were still looking to buy, as I "may" be interested in selling. We had a meeting onsite and he advised me what he thought I might get for it, which was in line with my own expectations. He then advised me that he did have someone who may be keen, and he was happy to show the guy through, but to keep everything above board I would have to officially list the property with his agency, but he just wouldn't advertise it yet, which also meant I wouldn't have to pay for marketing at that stage. If the guy ended up not being interested, I could then choose to withdraw the listing entirely, or could put it on hold to tidy the place up and then launch a full sales & marketing campaign.

    My unit had some good features such as recent double glazing, newish kitchen and bathroom etc, but it has been a few years since the last full reno, and after a few back to back tenancies, the carpets were in a bad state (frayed/stained etc) and it needed a good deep clean and lick of paint inside and out. It was definitely not in good enough condition to go to market and expect a decent price.

    Anyway, as it turns out, the prospective purchaser that the agent had in mind really liked the property, and because he had already missed out on a few places, the agent advised him to make his best offer straight out of the gate "to prevent the vendor from fully going to market and advertising properly" which would then bring competition from other buyers. This strategy worked. The purchaser put in an offer that was significantly higher than the offer he had placed on the unit downstairs, and it was $30k higher than what I considered my property to be worth. ($30k might not sound like much, but it's a property with a CV of only $160k, the agent and I thought it might fetch $170k in its current condition, and he offered $200k).

    So the deal was done and settled within 30 days, I didn't have to pay for marketing, and I also didn't have to hurriedly bring the property up to standard for marketing (which I estimate could have cost me at least $10,000). Because of these savings alone, together with the price which is more than I personally think it is worth in its current state, I was happy to pay the agent his full commission (2.95% + $490 + GST) which came to around $7,400 inc gst.

    My advice is if you want a quick hassle-free sale where you don't have to do any work, and you can do it without having to pay for marketing, just embrace the commission for what it is - it's the cost of a quick and easy transaction, and in my case it was worth every cent. I paid next to nothing for that property 17 years ago, and the rent from it has more than covered the initial purchase price, and then some. But it was likely to become a millstone in future years when these new healthy home rules come in, so I was happy to let it go quickly but still at an excellent price for the condition and area.

    For a more expensive property you could maybe ask for 10-15% off the total commission - I did this successfully on an estate sale recently in which I was the estate executor.

  5. #15

    Default

    You can operate the complexities of a web browser so you have more than enough brains to sell it yourself. Real-estate agents market on fear and greed. My last purchase was a private sale it was an absolute pleasure not to have to deal with a ***** agent!

  6. #16
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,849

    Default

    Quote Originally Posted by datacraft View Post
    Real-estate agents market on fear and greed.
    That may be a bit harsh.

    As I see it, the "average Joe/Jill" is at a loss when dealing with a large value item, being something that happens a few rare times in their lifetime.

    No such doubts assail the minds of traders.

    When did you last see a private arrangement funeral, with no Funeral Director involved?
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  7. #17
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,305

    Default

    Quote Originally Posted by datacraft View Post
    You can operate the complexities of a web browser so you have more than enough brains to sell it yourself. Real-estate agents market on fear and greed. My last purchase was a private sale it was an absolute pleasure not to have to deal with a ***** agent!
    All assets are traded on fear and greed. By everyone.

    Are saying when you bought you were less greedy than if you were buying through and agent?

    And are you also saying that the vendor was less greedy because they weren't dealing through an agent?
    Squadly dinky do!

  8. #18

    Default

    I'm just saying you don't need to use agent that's all.

  9. #19
    Join Date
    May 2008
    Posts
    3,566

    Default

    And you don't have to get top dollar either.

  10. #20

    Default

    Its perfectly legit to do a private funeral arrangement, the main issue there is dealing with it all the myriad of jobs at a really tough emotional time. My mother has said she wants me to do hers privately which means I organise the cremation and death paperwork, and organise a private ceremony, probably at the local boat club or next door bar. She's in her 70s now so its not likely to be a sudden death, and frankly, i'd like to do it for her. Watch the TED talk by Caitlin Dougherty (she has written some books too, brilliantly funny) about why we have funerals - pretty much comes down to fear of doing something wrong. Its not like you're going to kill someone if you mess it up!


 

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