In general, Brisbane properties are experiencing increased demand. Many experts feel that when Sydney and Melbourne real estate is going gang busters (which it has), the next in line is Brisbane – and it’s all about affordability.
Brisbane property prices, as compared to Sydney and Melbourne are very affordable even in suburbs close to the CBD.
So what does this mean for greater Brisbane property owners? Increased demand meaning increased prices will follow.
This is the time where commissioned real estate agents will be fighting for listings – why? Big commission earnings, of course. And here’s the thing. When demand in property heats up, properties sell in quick time meaning a week or just a few weeks on the market. Agents therefore can turnover properties quickly and pocket lots of commission without a great deal of effort.
So let’s look at a scenario. An agent secures your listing. Up goes the ‘FOR SALE’ sign and the first open house is booked in. You feverishly ensure your home is clean to within an inch of its life, your lawns are clipped to bowling green standard, windows cleaned, etc., etc., in other words quite a few hours of your time. Time well spent of course because quite a few other property owners in your street or nearby will be doing the same thing – competition time?
The agent conversely will book your open, probably on a Saturday, for a half an hour, your marketing costs will be paid for up front and you have agreed to a commission of 3% or thereabouts PLUS GST!
You will then be ‘on the market’ with your home listed on realestate.com.au (where the majority of potential buyers will see your property) and its then the agent is looking to secure a buyer quickly.
Let’s say you sell in 40 days or just over five weeks. The agent has conducted say 4 opens each at a half hour duration, total 2 hours plus time for paperwork and follow up calls to potential buyers – say another 2 or 3 hours – making a combined 5 hours of his or her time. Remember, seasoned agents have dozens of listings so they cannot and will not spend endless hours selling your particular property. Remember, agents don’t get paid if they don’t sell.
Let’s say your commission payable was $12,000, your marketing costs $1,000, a total of $13,000 for 5 hours work! Your time in preparing the house for opens probably trebled that. Now – what if you sold privately through Total Clarity Realty?