melaniee

I know there are a few of you out there so wanted to pick your brains

What's the latest with asking for up front payment for advertising if you want to sell your house ? Is this normal ? Is this recommended and what happens when the money runs out ! Will you want more, not market my property as much ??

Thanks !

melaniee

I know you are out there !

Nu-Shooz

Where's Bobcat when you need him

melaniee

Yeah I was wondering that

worzel

From an earlier post:

"I've mowed the orchard; cleaned some of the gutters out; got a fire going out the front to burn off all the fallen debris.

Got about another hour left before darkness falls; just got time to mow the paddock at the front."

He's probably asleep on the sofa!

mbike

Can't help with your specific question but what I can tell you from contacts of mine in media buying here in Perth is that the large RE agents here who take out full page ads on behalf of their clients in local papers will often negotiate a bulk rate with the papers (which largely survive on RE income) and then charge sellers a higher individual rate, pocketing the difference as profit. So it is in their financial interests to encourage sellers to advertise - especially at larger ad sizes. Any one who receives the Post in the Western Suburbs will know how lucrative this can be.

Mark

jensteve

Don't worry bobcat should be along soon, he's becoming a bit of a BE junkie, maybe he is meditating in preparation for our home open this sunday!! The poor fella's tried just about everything else, I half expect a pair of boardies and thongs to be worn this sunday in true Aussie fashion!
Maybe we should just sit down with him with a few stubbies and just see what happens, now thats a relaxed seller don't you think?
Jenny

Bobcat

Where do you live?

Your chosen Agent should be able to tailor make a marketing strategy to suit your particular house and your individual needs.

A lot of Agents are hurting at present........... I got a shock last two weekends when I left JenSteve's home-open.......... i called into see my former colleagues at their respective home-opens in the Tapping and Carramar areas............. some were reading books, others playing on their laptops....... normally we don't have time to scratch ourselves during home-opens?

Feedback i got from other agents........... some want VPA .......... some aren't even doing home-opens due to a lacklustre response ......... some don't even want any new listings until the market picks up.

Wrong attitude because if we are in it for the long haul........ we have to take the rough with the smooth! Roll on the days again when my vendor gives me a 30 grand tip for a job well done......... wish that happened every week

PM me if you need any assistance............ or give us a bell. Contact details are on profile.

Bobcat

Had to go out and see a man about him riding a goat?

Plenty of fingers and toes crossed for our home-open this Sunday........ lots of good old house selling Karma flying about left, right, and centre.

Our friends in UK are willing us to sell this weekend just as we are sending our Karma over the airwaves to them in a far off land hoping they too attract viewings from anyone but toss-pots.

Good result with sale of business......... have emailed you an up to date scale of fees re conveyancing costs for same....... both buyer and seller.
It's best practice to not use same settlement agent due to perceived potential for conflict of interest? Will ring you around lunch time.

danbex85

Hi,
I'm not too sure how it works in Perth but i am a Real Estate Agent in Qld.
Asking for VPA (vendor paid advertising) to help sell a house when it is coming on the market is very common. You will probably find that the majority of adverts in your local property paper have been paid for by the seller. THIS IS NORMAL!
When I list a property for sale I will always discuss the marketing of the property and try to work out a marketing plan that suits the seller. It is common for people to pay a lot of money for advertising but it really depends on the property. For example if your property is going to be sold by auction you should really do a lot of advertsing over normally 4-6 weeks.
It is often recommended that you pay for about 1% of what you expect to sell the house for. e.g if you are selling for 500,000 then pay $5000 towards marketing the property. Advertising will enable your property to be seen by a wider audience which will boost interest. This interest will hopefully result in competition and the price being pushed up.
Advertising often (not always) pays for itself. For exampe you might get a sale for 500k without advertising, but with advertising you might get 520k.

Unfortunately there is nothing definite about what results will come from the advertising and we often do not know if the leads came from the advertising but I would certainly advise paying VPA as it will hopefully get you more money. Spend $5000 to make $20,000.

Discuss this matter with your agent and see what he can come up with but make sure that you advertise asap as the majority of interest in a property is within the 1st 2 weeks so try to maximise the exposure in this time frame.

Good luck with everything


Dan


P.s
Your agent is not allowed to profit from advertsing (e.g buying it for 3k and selling to you for 5k). If he is doing this i would be concerned. Discuss this with him and find out if he profits at all. In Qld any profits or kick backs that we get must be declared.

Dan

P.P.S
Sorry-one last thing,
If you give the agent money for advertsing and he only uses some of it, then he must give you back whatever is leftover

melaniee

$5000-wow ! Would you want an extra 3% commission on top of that ?
And I was worried about $500 !

Thanks for the advice everyone !

Bobcat

Think I'd better move back to QLD............seemingly i'm short changing myself?