The landscape of the real estate industry has changed drastically in the past decade. Gone are the days when the only viable option was to shell out thousands in agent’s fees, just to get your home on the market. In 2019, there are many online platforms and business services, which allow you to showcase your property to thousands of potential buyers. So what are some of these options?
Believe it or not, listing a home for sale on Facebook can be more successful than selling through an agent. Many sellers have found success through Facebook marketplace. There are even groups dedicated to buying and selling homes privately. You can boost audience exposure by investing some money into Facebook ads. If you’re savvy, and can formulate posts that target the right buyers, this can be a much cheaper option than paying for professional marketing. Instagram can also be a great way to get your home in front of younger buyers (aged 25-34), who make up over 50% of its audience.
One of the most popular online marketplaces, Gumtree is also one of the most visited websites in Australia. Listing your home on Gumtree’s real estate section is fairly quick and easy, and exposes your home to hundreds of thousands of potential viewers. Some users have found buyers within a week of listing their property, even after agents had failed to find a buyer after several months. One of the advantages of using Gumtree is that it’s free to create a listing, although there are a number of paid features to help gain some extra exposure.
For the fraction of the cost of hiring a real estate agent, you can purchase a professional marketing package to really get your home out there. A quick Google search for “sell my home without an agent” will turn up numerous businesses offering these services. Packages can range from a few hundred dollars, to a few thousand, depending on your needs. A basic package would include professional listings on the major real estate portals, like realestate.com.au and Domain. The cost of listing on these websites can be a barrier for the general public. As such, this is a good way to get your home out to a wider market. The level of support and services will vary between companies, but could include:
- Physical advertising such as a “For Sale” sign and print brochures
- Professional photography and retouching
- Social media campaigns
- Appraisal and market reports
- Vendor advocacy
If you’re comfortable negotiating the red tape involved with selling your home, this can be a great option. It includes benefits such as professional presentation and wider market exposure, without the additional costs that come with enlisting a real estate agent.
Some things to consider
Although selling your own home can potentially save you thousands in agent’s fees, there are still going to be a number of costs involved. Initially, you may want to get a market appraisal from a licensed real estate agent. You can always do your own research to work out a reasonable sale price, but it may not be in line with market expectations. You may also want to hire a conveyancer or solicitor to assist with the legal aspects of selling your home. While selling your own home can save money in the short term, it could cost you more than you bargained for if you get into any legal trouble.
There are definite pros and cons to selling your home by yourself. If you’re industry-savvy, well informed and confident, you might just outdo the professionals.