While for sale by owner (FSBO) in Australia, and particularly Queensland is relatively new FSBO in Europe is extremely popular, in fact more popular than in the United States and Canada.
I was searching Google for stories relating to FSBO and came across a press release (undated) by ReMax Europe where the statistics claimed are startling to say the least.
According to ReMax Europe, only 31% of Austrians hire an agent to sell their home meaning that 69% are selling their homes themselves.
Then throw in these other figures from the ReMax press release such as 50%of homes are sold by owners in Italy and Slovakia and a whopping 62% of homes are sold privately in Spain.
Interestingly, but quite expected are the claims made in the article defending the ‘professional’ real estate industry as the only method that should be used by the public to sell their property.
Quotes such as:
- “The job of an agent is to be a time and money saver for a client who wants to sell and that is our aim at ReMax Europe”.
- “Hiring a professional means hiring a market expert: With knowing the market an agent also knows the value of property. Therefore setting the right price is much easier”.
- “Another benefit of using an agent is that he or she already knows potential buyers, which leads to a shorter selling period.”
- “There is also the fact about legal issues and knowing the risks when selling a property”.
How often do we hear the above quotes by people in Australia’s real estate industry. It seems that globally the real estate industry bandy out the same defensive statements to convince a gullible property selling public that real estate agents are the only ones equipped to sell your home.
The truth is that the industry enjoys a massive income and they are not about to entertain any possible encroachment to that lucrative income derived from selling property (and many other income streams as well).
In Australia, according to The Sydney Morning Herald article on 1 March 2016, “The figures show rental, hiring and real estate service companies made $14 billion before tax in the second half of 2015 while mining companies made only $9.8 billion”. “Real estate profits were twice those of the retail and construction industries”.
Just think, $14 billion in HALF a year! That’s 14,000 million dollars so the industry in Australia is sure making a heap of money.
Now, nothing wrong with that except that much of it is made up of commission from your property sales – your money!
Now let’s say that there was a shift in the way property was sold – a shift towards property owners selling their own homes. Well, the thousands of dollars a seller would save on his or her sale would still get circulated in the economy, which is a good thing.
Total Clarity Realty believes in fairness and an alternative way to real estate sales in Queensland and giving private home sellers all the tools to achieve their sale at a very small cost compared to paying commission.
A new era in Queensland real estate has just begun so if Europeans can do it, so can you!
And one final truth. Buyers follow properties NOT agents.