The above countries in the title have tens of thousands of property owners who really know the benefits of showing your own property. Why? Generally because at the worst of the Global Financial Crisis and following, many thousands of property owners in those countries saw their property values decline by large percentage points.
Selling their property was often the only option before the banks moved in to repossess. Selling through agents who were charging commissions just eat into their already much diminished property value – so selling the property yourself became a popular norm.
Problem was they did not have access to essential online marketing portals exclusively enjoyed by registered real estate agents. This is where enterprising people saw a large opportunity. Charge an affordable fee, give owners access to a powerful marketing package, give qualified advice and assistance AND charge NO commission. The rest is history.
So what about Australia? Well Aussies dodged a bullet during and beyond the Global Financial Crisis and their property values in many cases still kept rising although more slowly and in mining towns particularly in Queensland, prices rocketed.
Now to the present. In this instance, I just want to talk about Queensland, particularly regional Queensland.
Mining boom to bust, floods and a general downturn in the economy and higher unemployment have led to depressed property values, in some towns huge losses in property value. Coupled to this is the added length of time to find a buyer.
But guess what? Real estate agents commissions have pretty much remained at around 3% plus GST. Three percent is $3,000 per $100,000 dollars – so what will this cost if your home is worth, for example $250,000 = $7,500 + GST = $8,250. If your home is worth $400,000 = $12,000 + GST = $13,200.
On top of this commission you would have paid a large sum (usually in advance) for marketing.
So, doesn’t this to a large extent look similar to the countries in our above title before the GFC?
Time for a similar radical change to the way we sell real estate, wouldn’t you say?
Now for those of you who consider the above scenarios of steep commission and marketing payments affordable and fair, then that is your democratic and economic choice.
For the rest of us, the value of our present home contributes greatly to our ability to upgrade to a larger home or a more expensive desirable location. Or it may represent the means to a comfortable retirement or assisting your children to their first home or higher education.
When our major asset value remains stagnant or its value drops rapidly due to economic circumstances, when we go to sell, we need as much as possible from that sale and this will not occur after steep commission and marketing charges.
Further, it is essential to any typical real estate agent to make the sale expedient, not at the highest possible price, but at any price, because the commission from your sale price is ‘their wages’.
This is when our company, Total Clarity Realty is your absolute best option to sell your home. Our low fee, powerful marketing package empowers YOU to sell your home and not have that after shock of a large chunk of commission come out of the sale proceeds at settlement. In addition to Total Clarity Realty charging NO COMMISSION – WE HAVE YOUR BACK with assistance, advice, and all the tools to sell your home … yourself! Further, unlike some others in this industry, we highly recommend the use of a registered conveyancer or lawyer to tend to the legal aspects of your sale.
So become part of the savvy movement of home sellers pocketing thousands more and challenging over 100 years of the dominant expensive way to sell property in Australia AND one final fact ‘buyers follow properties, NOT agents’.