For Sale By Owner was founded out of a strong demand for an avenue by which private vendors could sell their houses themselves without using a real estate agent. Vendors now have the ability to take control of the sale of their property, whilst having access to the same marketing tools as real estate agents, but without the hefty commissions and advertising costs charged by agents.
Let’s examine the average costs imposed on vendors by most agents. For many campaigns, advertising costs can quite easily be in excess of a few thousand dollars (especially is the property is to be taken to auction), and in addition to this, the seller is usually up for a commission of around 2.5% of the sale price. On a $500,000 property, this equates to $12,500 in commission costs alone.
Compare this to vendors selling through For Sale By Owner, where costs can be as little as a few hundred dollars (which covers an extensive marketing campaign) and with no commission costs being payable at all. Vendors have access to many of the same services which real estate agents would typically provide (advertising on all the major portals in Australia), professional ‘For Sale’ signs, property brochures, and access to property sales reports.
Rather than paying for an all-inclusive service (including many options the vendor may not want or need), For Sale By Owner allows the vendor to pick and choose the services they would like (professional photography, drafted floor plans etc.), and to tailor a marketing campaign specifically suited to their needs and budget.
For Sale By Owner is, for many Australians, fast becoming the preferred way of selling one’s home. Vendors are realising that they can save themselves thousands of dollars in commissions by taking matters into their own hands, and that selling a property is not complicated.
For Sale By Owner | Investment Property | Estate Agent Caulfield | Plumber Frankston | Plumber Melton