{"id":33838,"date":"2021-08-10T15:20:30","date_gmt":"2021-08-10T03:20:30","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=33838"},"modified":"2021-08-10T15:20:30","modified_gmt":"2021-08-10T03:20:30","slug":"buying-a-house-without-an-agent-through-private-sale","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/buying-a-house-without-an-agent-through-private-sale\/","title":{"rendered":"Buying a house without an agent through private sale"},"content":{"rendered":"<p><strong>PHOTO: Becky Irvine Stone, centre left with her family, didn&#8217;t mind putting in the extra work to sell her house privately and later bought that way too. <cite class=\"W-g-R _14nkQ _3BwtN _2eB4R _3qdyT _1SWGZ\" data-component=\"Figure__cite\">(<\/cite>Supplied:\u00a0Toni-Jade<cite class=\"W-g-R _14nkQ _3BwtN _2eB4R _3qdyT _1SWGZ\" data-component=\"Figure__cite\">)<\/cite><\/strong><\/p>\n<p class=\"_3mBrr _3jn4W LTJIg _2rdcP _3BwtN _2eB4R _3X_Mb\" data-component=\"Standfirst\">When Becky Irvine Stone decided to sell her investment property back in 2011, she was concerned by the $10,000 fee quoted by a prospective real estate agent.<\/p>\n<p>In a very Carrie Bradshaw-esque way, the mum-of-three couldn&#8217;t help but wonder: what if she sold the joint herself and saved the cash?<\/p>\n<p>People tend to use real estate agents because they can make it easier to meet the legal requirements of selling a home as well as preparing the property for sale, listing it, marketing it, running viewings, dealing with prospective buyers and the actual sale bit.<\/p>\n<p>But\u00a0&#8220;in the same way you&#8217;re entitled to sell your sofa yourself, you&#8217;re entitled to sell your house yourself&#8221;, says Dr Cathy Sherry, an associate professor at UNSW who teaches property law.<\/p>\n<p>There&#8217;s no legal requirement that you have to use a real estate agent to buy or sell, she adds.<\/p>\n<p>A bit of online research later and Becky decided she didn&#8217;t mind putting in the work if it meant ending up with more money.<\/p>\n<p>But is it that simple?<\/p>\n<p>&nbsp;<\/p>\n<h2 class=\"_3mBrr _2El7j LTJIg _3qPMD _2rdcP _2Od9e _582YK _2eB4R _3Z8IO\" data-component=\"Heading\">Hosting viewings yourself<\/h2>\n<p>Becky signed up for a website for private home sales, created her listing and put the big sign the company posted her in front of her house.<\/p>\n<p>For good measure, she also paid $2 to place an advert in the local school newsletter.<\/p>\n<p>It was enough to drum up some potential buyers.<\/p>\n<p>About three Saturdays in a row, Becky took five to 10 people a day through for viewings.<\/p>\n<p>She channelled the energy of real estate agents she&#8217;d observed on walkthroughs to turn her house into a place others could imagine themselves living in.<\/p>\n<p>On the last Saturday, she got an offer on the spot.<\/p>\n<p>Becky then spent about $600 engaging a conveyancing company to help with the nitty-gritty of transferring the title to the buyer.<\/p>\n<p>&#8220;The whole thing ended up costing us maybe $4,000 to sell. We saved about $10,000 by doing it,&#8221; she says.<\/p>\n<p>But Timothy McKibbin, chief executive of the Real Estate Institute of New South Wales, says he wouldn&#8217;t necessarily think about it that way.<\/p>\n<p>&#8220;Initially [selling privately] looks very attractive \u2026 You say to yourself, &#8216;I&#8217;m going to have to pay the agent so many thousands of dollars and that doesn&#8217;t look very attractive&#8217;, but what if the agent gets you an extra $100,000 as opposed to what you could do yourself?&#8221;<\/p>\n<p>Despite the possibility of more money, Becky says she&#8217;d sell privately again if she ever does.<\/p>\n<p>And when she needed to buy a new family home in 2017, she ended up going down the private road for that too \u2014 but not in the way she anticipated.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.abc.net.au\/everyday\/buying-house-without-agent-through-private-sale\/100343472\">ABC<\/a><\/p>\n<p>https:\/\/www.instagram.com\/p\/CSLAmbGB0y4\/?utm_source=ig_web_copy_link<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Becky Irvine Stone, centre left with her family, didn&#8217;t<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/buying-a-house-without-an-agent-through-private-sale\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":33839,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478117300,478117301,478117303,478098519,478098535,478098696,478117302,478105113,478098513,478098511,478098705,478098533,478098828,478101072,478098509],"class_list":["entry","author-data123nz","post-33838","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-becky-irvine-stone","tag-becky-stone","tag-dr-cathy-sherry","tag-home-ownership","tag-house-prices","tag-investment-property","tag-private-home-sales","tag-private-sale","tag-property","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-agents","tag-real-estate-institute-of-new-south-wales","tag-real-estate-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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