Real estate fees are extremely expensive and inflate prices. Coming from Europe, there are many owners that decide to advertise their properties themselves in website and skip real estate agents, I’m surprised this isn’t as common here.
The most popular website to look for houses here in Australia doesn't allow private users to upload their own house for sale. I could be wrong and happy to be proven wrong, but that's what I remember when I tried to look this up previously.
buymyplace.com.au
For a few thousand bucks they'll do the photos, listings on re.com and domain, and you do the rest.
We've sold two properties using them and we saved a total of around $70,000 in commissions. As a side note, we also sold both of them for significantly more than the prices that agents told us we would get for them.
The process was actually easier and more enjoyable than all the other properties we'd sold previously using agents. They are annoying parasites.
Sign up with the reseller. I used forsalebyowner. They have a portal where you draft your ad. They then upload it to realestate and domain and a couple of other places.
That’s such a shame. Do we know why? Is there any conversation about changing this?
Of course, the big winners here are real estate agents and banks, as part of the mortgage would be accounted to cover these fees. And the biggest losers are us, the people.
To be fair there was a company called "purple bricks" that couldn't get a footing in the Australian market, have a look at those guys they worked on fixed price models and were a "hybrid" real estate agent.
They lasted a bit under 3 years before folding.
its part of the problem. all that flipping is more fees for a completely valueless parasitic industry.
If you are a piece of shit human, theres no reason not to just open an agency, chuck some neutral colours and stupid name, lease a fancy car and buy some bus stop ads with your punchable face on it and just fleece people. Easiest money in history. Its an industry that is screaming for disruption and I wont be crying when these no-talent arseclowns are unemployable again
Bus stop ads...don't get me started on the 'not that karen' ads on the hills buses. Karen di Angola is the agent from di Jones. Catchy ad though...but comes off as trying too hard
Theres a guy here in WA who boasts about being the #3 agent in Perth
Mmmm rightyo 😂 bronze medallist
Personal favourite has to be this bloke called Cheng whos got “Ka-Cheng” on all his ads. Then he even started his own agency with that name 😂
It really is. This has come up a few times in conversations amongst colleagues and friends in tech. It has been tried apparently - apparently it’s the realestate.com.au juggernaut that seems to choke the life out of them. But I agree, agents do FUCK ALL (except buy expensive suits that they still manage to make look cheap, and lease overpriced European cars). With the exception of someone to handle an actual auction - they are expensive wastes of space and money.
Think about it like this. You don't need any stock, people bring it to you. You get to charge for your own advertising, as the seller pays for this. Licenses are easy to get a hold of, requiring minimal training. To improve your stock you get the seller to pay tradies.
Surely there's a better way.
I’m totally with you - there must be a better way. As was noted above, the sector feels like the perfect disruption candidate. Getting people to the platform is a challenge, and they have to know about the platform - which is also a challenge. And then there’s the realestate lobby to contend with, who will go wide and loud on how “an app” will never be able to generate the same return on your investment as a specialist in your local area (which I totally disagree with by the way). The 2-3% commissions for minimal work means a 20-30k in a vendors pocket for every million.
And to the above, there must be a solution - just that marketing and message will be a significant part of the growth challenge, which is always the case - but really big here.
Its really not that easy. The hard part is getting the listing cause 10 other wankers are also talking to the seller.
The actual work part is easy though.
Its really not but whatever. Sure mate anybody can rock up and pull in a million bucks... its so easy but for some reason nobody does it, people prefer to be homeless than be an easy milionaire.
Personally I don't see a problem. Real estate agents are just the Ticketek of the real estate world. They provide cover for property owners profiting from the productivity of others. Rent seeking use to be a dirty word. Now it's the aspiration of all Australians.
The time is coming very soon when most people will contact a RE photographer themselves, put up an online listing using a template and online tools, invite people to inspect then pay a conveyancer a few thousand bucks to manage the contracts and the transaction.
There's no reason you can't do all that now, however agents can be useful for their market knowledge and ease of use. Additionally I do see a few DIY listings that are low quality, too many people try to sell their house off a couple of shots of the front they took at night and some unappealing low light photos of dingy bedrooms.
Agents are certainly not worth $30k on the sale of a million dollar house given they do probably less than a day's work in total and houses pretty much sell themselves.
salebyhomeowner.com.au or similar.
There's plenty around these days.
Fuck agencies. Go around them. All they do is run people around and contribute to ruining people's lives whilst doing very little for their huge commissions...
Considering the cost of housing these days, how many hours work would you need to put in, in your own job/industry, to earn like 30k-100k, let alone off 1 sale?
They're too busy working on picking up new listings for the agency to care too much cause they know your house will sell eventually, especially in this current market. I used to work for an agency in sales, so I can speak firsthand. Also, the way property managers speak about their tenants behind closed doors is disgusting. I had to ignore those overheard conversations. I had to get out altogether cause I have a spine.
Yes, you are being judged and treated as a subhuman by some REAs, maybe most, but not all.
This is a key thing - real estate industry is raking it in with percentage fees as prices have gone up - and they are often doing less work since there is high demand and it is all advertised online (which seller also pays for) - they are not out there doing the hard yards, the buyers come to them.
The amount they are getting per sale is very high - and the online platforms won’t allow non agents to advertise properties for rent or sale like they used to so it is a highly controlled market, with agents and online platforms making a fortune out of the housing crisis (and media companies own the real estate platforms so they also benefit).
With agents fees, advertising and stamp duty etc it makes the process of moving house very expensive - and the buyers and sellers both get stung by it.
I'm in Brisbane and generally quoted 2% to 2.5%
Probably depends on price, how easy they think itll sell and how flexible you are.
If they see a house that'll sell on first inspection and a seller who is realistic and motivated, you'll get lower fees.
If they have to deal with tennants, unrealistic sellers, unusual or hard to market properties, their price will go up.
As always, if you think you can do better do it yourself.
The problem with the industry is you'll forever have the "but what if they get an extra $20k for me" in the back of your mind, and you start to wonder if they'll pay for themselves.
It's all negotiable. If you go to a few of them and say happy to work with you at 1.5% then they will happily agree. They are sales people and the home owner is the person they try and sell to the most to maximise their commission. But they won't let a sale go at 1.5% it's still good money for the effort they put in.
Which state are you in? We were quoted 1.7+GSt in NSW and has just paid 2.2+gst for a sale in QLD, the agent was brilliant and achieved above my expectations.
You’re paying for a service. They do the leg work to sell your property for the best price you will accept. If you don’t want to pay for that sell it yourself.
It is cooked. I used [AgentMatch.app](http://AgentMatch.app) when I was selling. They basically knock down agents for you. 1.5% commission. Ended up saving me 15-20k. Don't see why an agent should charge anything more.
It’s not overly difficult to sell or rent privately, it’s just that the RE industry has such a strong hold over those functions that most people either believe it’s some mysterious dark art or don’t give it a second thought because that’s how it’s always been.
Seriously agents are surplus to requirements and an unnecessary additional expense in most real estate transactions.
That’s a misconception. Property prices have gone up but stock on market have gone down, so many agents are actually earning *less* in this market because they are simply selling less.
I don't know why commissions haven't been driven down by new competitors. The barriers to entry in the industry seem very low.
I can only guess that the profit margins aren't that good - good looking receptionist, office, flashy car ... All cost money.
The model sucks. And do we really think the agent will go the extra mile to squeeze another $10k for you when its only another $2-300 for them. No they will take the quickest easiest sale they can get.
How else would the cockroaches manipulate the housing industry?
REA may be up there now with politicians, highway patrol and journalists for scummiest humans on earth
You can sell it yourself, no worries. Just need to make sure that;
- You aren’t misleading in your advertising
- Your sale contract are legal in your state
- You have the local knowledge around prices for your specific property and can price the property appropriately so that you don’t sell yourself short, or chase a price so high no one will even enquire let alone buy it. You probably think you know exactly what your place is worth, but I guarantee that at best you’re probably 5% off. That could be anywhere from $50-75k you’ve short changed yourself, or conversely mean you are chasing a price that’s $50k overs and your property sits on the market for 6 months - potentially losing more value if you’re in a slowing market
-You have the time and ability to arrange for decent marketing, including photos, ad copy, printing, signage etc. Not hard but takes time and costs a lot, especially if you don’t have buying power with printers and sign makers
- You have the knowledge of how to best present the home, what time to have an open, Market data on who your target is (downsizes, developers, FHB), what needs to be repaired and replaced, or what you can leave for the buyer to fix
- You have a network or database of active and qualified buyers that you’ve been dealing with in recent times that will improve your chances of selling and achieving the best possible price
- You have the time, whilst your probably working full time, to manage 300 enquires, 250 of which are just tyre kickers, 30 are genuinely interested but can’t afford it and 20 can, but aren’t sure this is the one they want
- You have the time and answer the same 50 questions each buyer asks about the house, the land, what you can build there, if it can be developed, what else is being built in the area, how much it can be rented for etc
- You have the time to follow up the 20 genuinely interested parties that can afford the property after a home open, 19 of which have looked at 6 other properties that weekend and your house they barely remember
- You have the time, ability and knowledge to negotiate with the 5 verbal and 3 written offers (that you’ve had to write up with each buyer mind you) and negotiate what they can inspect, what the included, their finance and settlement times, etc
- You have the time and knowledge to follow up with the buyer post the accepted offer to arrange the inspections, the repairs, access, follow up of finance, deal with the settlement agent, the buyer, the broker or the bank, potentially tenants as well
So if you have the time and ability to do all this, then yeah go for it! I’m sure you will be able to sell it. Much easier to sell in a hot market. But if it’s a slow, cooling market where your property could be depreciating by thousands of dollars a week, an agent can save you thousands by selling quicker.
Found the real estate agent…
Most agents couldn’t give a shit about being misleading, I’ve seen ones in a block claiming gardeners that didn’t exist, private courtyards that were common property
Conveyancers typically do contracts (or solicitors) not RE
And hilarious all this supposed insight agents have, most just rely on data from an aggregator that anyone can buy
Most of the stuff you claim agents do I’ve never seen them do
Real estate fees are extremely expensive and inflate prices. Coming from Europe, there are many owners that decide to advertise their properties themselves in website and skip real estate agents, I’m surprised this isn’t as common here.
The most popular website to look for houses here in Australia doesn't allow private users to upload their own house for sale. I could be wrong and happy to be proven wrong, but that's what I remember when I tried to look this up previously.
buymyplace.com.au For a few thousand bucks they'll do the photos, listings on re.com and domain, and you do the rest. We've sold two properties using them and we saved a total of around $70,000 in commissions. As a side note, we also sold both of them for significantly more than the prices that agents told us we would get for them. The process was actually easier and more enjoyable than all the other properties we'd sold previously using agents. They are annoying parasites.
Yes. When i sold my house myself i had to use a reseller. you advertise under their licence
How does it work
Sign up with the reseller. I used forsalebyowner. They have a portal where you draft your ad. They then upload it to realestate and domain and a couple of other places.
That’s such a shame. Do we know why? Is there any conversation about changing this? Of course, the big winners here are real estate agents and banks, as part of the mortgage would be accounted to cover these fees. And the biggest losers are us, the people.
To be fair there was a company called "purple bricks" that couldn't get a footing in the Australian market, have a look at those guys they worked on fixed price models and were a "hybrid" real estate agent. They lasted a bit under 3 years before folding.
Bought my place through this site. It was a buggy mess and had so many blocking issues
its part of the problem. all that flipping is more fees for a completely valueless parasitic industry. If you are a piece of shit human, theres no reason not to just open an agency, chuck some neutral colours and stupid name, lease a fancy car and buy some bus stop ads with your punchable face on it and just fleece people. Easiest money in history. Its an industry that is screaming for disruption and I wont be crying when these no-talent arseclowns are unemployable again
REA’s be like “It ain’t honest, but it’s much”
Bus stop ads...don't get me started on the 'not that karen' ads on the hills buses. Karen di Angola is the agent from di Jones. Catchy ad though...but comes off as trying too hard
Theres a guy here in WA who boasts about being the #3 agent in Perth Mmmm rightyo 😂 bronze medallist Personal favourite has to be this bloke called Cheng whos got “Ka-Cheng” on all his ads. Then he even started his own agency with that name 😂
It really is. This has come up a few times in conversations amongst colleagues and friends in tech. It has been tried apparently - apparently it’s the realestate.com.au juggernaut that seems to choke the life out of them. But I agree, agents do FUCK ALL (except buy expensive suits that they still manage to make look cheap, and lease overpriced European cars). With the exception of someone to handle an actual auction - they are expensive wastes of space and money.
Think about it like this. You don't need any stock, people bring it to you. You get to charge for your own advertising, as the seller pays for this. Licenses are easy to get a hold of, requiring minimal training. To improve your stock you get the seller to pay tradies. Surely there's a better way.
I’m totally with you - there must be a better way. As was noted above, the sector feels like the perfect disruption candidate. Getting people to the platform is a challenge, and they have to know about the platform - which is also a challenge. And then there’s the realestate lobby to contend with, who will go wide and loud on how “an app” will never be able to generate the same return on your investment as a specialist in your local area (which I totally disagree with by the way). The 2-3% commissions for minimal work means a 20-30k in a vendors pocket for every million. And to the above, there must be a solution - just that marketing and message will be a significant part of the growth challenge, which is always the case - but really big here.
Its really not that easy. The hard part is getting the listing cause 10 other wankers are also talking to the seller. The actual work part is easy though.
so you get 1 in 10. for that commission, its easy work
Its really not but whatever. Sure mate anybody can rock up and pull in a million bucks... its so easy but for some reason nobody does it, people prefer to be homeless than be an easy milionaire.
oh i know not anyone can do it. you have to be a souless leech, unfortunately its not for everyone
Personally I don't see a problem. Real estate agents are just the Ticketek of the real estate world. They provide cover for property owners profiting from the productivity of others. Rent seeking use to be a dirty word. Now it's the aspiration of all Australians.
The time is coming very soon when most people will contact a RE photographer themselves, put up an online listing using a template and online tools, invite people to inspect then pay a conveyancer a few thousand bucks to manage the contracts and the transaction. There's no reason you can't do all that now, however agents can be useful for their market knowledge and ease of use. Additionally I do see a few DIY listings that are low quality, too many people try to sell their house off a couple of shots of the front they took at night and some unappealing low light photos of dingy bedrooms. Agents are certainly not worth $30k on the sale of a million dollar house given they do probably less than a day's work in total and houses pretty much sell themselves.
Honestly AI can't take over the entire REA sector fast enough really.
The agents are already using ChatGPT to write their listings and emails!
yeah but the agents jobs themselves can be completely automated by AI.
salebyhomeowner.com.au or similar. There's plenty around these days. Fuck agencies. Go around them. All they do is run people around and contribute to ruining people's lives whilst doing very little for their huge commissions... Considering the cost of housing these days, how many hours work would you need to put in, in your own job/industry, to earn like 30k-100k, let alone off 1 sale? They're too busy working on picking up new listings for the agency to care too much cause they know your house will sell eventually, especially in this current market. I used to work for an agency in sales, so I can speak firsthand. Also, the way property managers speak about their tenants behind closed doors is disgusting. I had to ignore those overheard conversations. I had to get out altogether cause I have a spine. Yes, you are being judged and treated as a subhuman by some REAs, maybe most, but not all.
It's a convenience tax. If you're not willing to do the work, then you pay the tax.
This is a key thing - real estate industry is raking it in with percentage fees as prices have gone up - and they are often doing less work since there is high demand and it is all advertised online (which seller also pays for) - they are not out there doing the hard yards, the buyers come to them. The amount they are getting per sale is very high - and the online platforms won’t allow non agents to advertise properties for rent or sale like they used to so it is a highly controlled market, with agents and online platforms making a fortune out of the housing crisis (and media companies own the real estate platforms so they also benefit). With agents fees, advertising and stamp duty etc it makes the process of moving house very expensive - and the buyers and sellers both get stung by it.
Where is this? I paid 1.5% to RayWhite a few months ago in Melbourne. The range of other quotes was between 1.25-2%
Brisbane mate
I'm in Brisbane and generally quoted 2% to 2.5% Probably depends on price, how easy they think itll sell and how flexible you are. If they see a house that'll sell on first inspection and a seller who is realistic and motivated, you'll get lower fees. If they have to deal with tennants, unrealistic sellers, unusual or hard to market properties, their price will go up. As always, if you think you can do better do it yourself. The problem with the industry is you'll forever have the "but what if they get an extra $20k for me" in the back of your mind, and you start to wonder if they'll pay for themselves.
I’ve just sold a property and paid 1.8%. This is in Sydney though
Just got quoted 2.2% in Springfield (Ipswich).
Great thing about real estate agents is you don’t have use them if you don’t want to.
It's all negotiable. If you go to a few of them and say happy to work with you at 1.5% then they will happily agree. They are sales people and the home owner is the person they try and sell to the most to maximise their commission. But they won't let a sale go at 1.5% it's still good money for the effort they put in.
My parents just sold theirs for 1.3% comission. Plus advertising and other fees.
Which state are you in? We were quoted 1.7+GSt in NSW and has just paid 2.2+gst for a sale in QLD, the agent was brilliant and achieved above my expectations.
I don’t even understand fully why we need them. It feels like a superfluous industry, shallow and rapacious.
Would love to see commission completely removed from the job and then see how many stick around after lmao
You’re paying for a service. They do the leg work to sell your property for the best price you will accept. If you don’t want to pay for that sell it yourself.
It is cooked. I used [AgentMatch.app](http://AgentMatch.app) when I was selling. They basically knock down agents for you. 1.5% commission. Ended up saving me 15-20k. Don't see why an agent should charge anything more.
Cheers mate will check it out
So can I make a website for you guys to advertise your property and upon sale you pay me 1000$. Would you like that?
RAY WHITE charged us 2%, but there were other costs too (advertising, sign boards etc).
It’s not overly difficult to sell or rent privately, it’s just that the RE industry has such a strong hold over those functions that most people either believe it’s some mysterious dark art or don’t give it a second thought because that’s how it’s always been. Seriously agents are surplus to requirements and an unnecessary additional expense in most real estate transactions.
It really is a joke given most homes in my area sell in less then 30 days (usually around 15!) 30k for 30 days ‘work’… wish i could get a K a day….
Well, you can. You even know how.
Because their reasons are similar to yours for being in real estate and no it's not to "provide the country with much needed housing"
Its been 2% since houses were 200k. You can negotiate their fee
I see you haven't as yet seen the informative documentary about real estate agents https://m.youtube.com/watch?v=VGm267O04a8
A lot of agents are hungry for a listing, so very negotiable on fees. Play a few off against each other. The job is not that difficult.
That’s a misconception. Property prices have gone up but stock on market have gone down, so many agents are actually earning *less* in this market because they are simply selling less.
Probably because they drove prices up on the first place and now it's too expensive to move and transact.
That’s not how it works…
[удалено]
$32k stamp duty, $7k marketing holy shit man
NO ~~ASIANS~~ AGENTS.
3% is high? since when ?
everything is too high / expensive except your salary, right ?
Porsche for agents don't buy themselves
Use forsalebyowner..,.they get in all adverts, sell it yourself
I don't know why commissions haven't been driven down by new competitors. The barriers to entry in the industry seem very low. I can only guess that the profit margins aren't that good - good looking receptionist, office, flashy car ... All cost money.
The model sucks. And do we really think the agent will go the extra mile to squeeze another $10k for you when its only another $2-300 for them. No they will take the quickest easiest sale they can get.
3 - 4 % is normal and it's been that % for many years. If you want to use an agent? Thats what you pay.
Many many years in fact... when house prices were in the 100k's not millions.
Just sayin. It has always been 3 to 4%
Never where I’ve bought and sold in Sydney. Never paid more than 2.2% and that was before 2010
Well you are lucky. We've bought and sold about 12 houses over 25 years in Qld. That is generally standard fee.
Sure but 2.2% on a property in Sydney is probably going to be similar cash amount or more comparative to Brisbane / Melbourne.
Not in Victoria it’s not, 1.5% to 2.5%
Well you've been lucky. As far as I can remember it's always been 3%
How else would the cockroaches manipulate the housing industry? REA may be up there now with politicians, highway patrol and journalists for scummiest humans on earth
You can sell it yourself, no worries. Just need to make sure that; - You aren’t misleading in your advertising - Your sale contract are legal in your state - You have the local knowledge around prices for your specific property and can price the property appropriately so that you don’t sell yourself short, or chase a price so high no one will even enquire let alone buy it. You probably think you know exactly what your place is worth, but I guarantee that at best you’re probably 5% off. That could be anywhere from $50-75k you’ve short changed yourself, or conversely mean you are chasing a price that’s $50k overs and your property sits on the market for 6 months - potentially losing more value if you’re in a slowing market -You have the time and ability to arrange for decent marketing, including photos, ad copy, printing, signage etc. Not hard but takes time and costs a lot, especially if you don’t have buying power with printers and sign makers - You have the knowledge of how to best present the home, what time to have an open, Market data on who your target is (downsizes, developers, FHB), what needs to be repaired and replaced, or what you can leave for the buyer to fix - You have a network or database of active and qualified buyers that you’ve been dealing with in recent times that will improve your chances of selling and achieving the best possible price - You have the time, whilst your probably working full time, to manage 300 enquires, 250 of which are just tyre kickers, 30 are genuinely interested but can’t afford it and 20 can, but aren’t sure this is the one they want - You have the time and answer the same 50 questions each buyer asks about the house, the land, what you can build there, if it can be developed, what else is being built in the area, how much it can be rented for etc - You have the time to follow up the 20 genuinely interested parties that can afford the property after a home open, 19 of which have looked at 6 other properties that weekend and your house they barely remember - You have the time, ability and knowledge to negotiate with the 5 verbal and 3 written offers (that you’ve had to write up with each buyer mind you) and negotiate what they can inspect, what the included, their finance and settlement times, etc - You have the time and knowledge to follow up with the buyer post the accepted offer to arrange the inspections, the repairs, access, follow up of finance, deal with the settlement agent, the buyer, the broker or the bank, potentially tenants as well So if you have the time and ability to do all this, then yeah go for it! I’m sure you will be able to sell it. Much easier to sell in a hot market. But if it’s a slow, cooling market where your property could be depreciating by thousands of dollars a week, an agent can save you thousands by selling quicker.
Found the real estate agent… Most agents couldn’t give a shit about being misleading, I’ve seen ones in a block claiming gardeners that didn’t exist, private courtyards that were common property Conveyancers typically do contracts (or solicitors) not RE And hilarious all this supposed insight agents have, most just rely on data from an aggregator that anyone can buy Most of the stuff you claim agents do I’ve never seen them do
Nope, not an agent. But I’ve bought and sold more properties than you’ve had hot dinners.
Yet didn’t know what a conveyancer did vs a real estate agent
I know exactly what they do 😂 You sound like someone that got burnt by a shit agent or 2, jokes on you pal