One symptom of every economic slowdown is a renewed focus on cost saving. And for those looking to save money selling their property we’re not surpised by the emergence of another Do It Yourself website, Buy My Place.com. This one is an online real estate advertising company, offering private sellers a way of accessing the online marketing world along with tools and technologies to sell their own property.
Some agents are horrified. We say, good on them.
This website charges less than $600 for some basic tools like a sign, web listing and “customer support”, another couple of thousand if you need them to help onsite. It’s heaps cheaper than using a real estate agent.
If an agent can’t add value to the transaction over and above their sign-erection skills, don’t use them! In fact, for much of what we do, you don’t really need to hire a real estate agent.
Of course we do have a bit more to add to this story! Let me ask this, “Do you cut your own hair”? Some things are best left to those who know what they’re doing. But if you get a shocker of a haircut you wouldn’t go back would you?
Buy My Place.com says one of the best reasons to sell your own is to remove the stress of “not ever really quite knowing who is actually saying what about your property”. What an indictment on our industry that this is a very common complaint and we couldn’t agree more – if your real estate agent doesn’t give you regular and complete feedback from buyers you would be better off doing it yourself. Of course if the agent isn’t ringing the buyers back at all (and yes, that’s happening right now in Brisbane) it’s pretty hard for them to get any feedback.
The challenge for a DIY seller is that when they call a buyer back, they come across sounding desperate. An agent chasing a buyer is just doing their job. That buyer contact and negotiation, especially the sweet time after a written offer’s received, is when a real estate agent should really earn their fee. That’s the true skill-set of a great agent.
The website says if you do decide to use an agent to sell for you, appoint them for the minimum of 30 days. We’d suggest that’s too risky and you should be able to sack your agent immediately and at any time. (Sellers with Bees Nees all have a ‘love us or sack us’ guarantee).
If those hairdresser’s scissors were out of control you’d jump from their chair pretty quickly wouldn’t you?!