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Real Estate charges in Oz to sell our house!!!!!!

Real Estate charges in Oz to sell our house!!!!!!

Old Dec 1st 2003, 11:10 pm
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Default Real Estate charges in Oz to sell our house!!!!!!

As most of you know we are returning to the UK around May next year so we've had a few Real Estate agents round to value our property.

I am shocked at how much they want to charge us!!!!:scared:

Most want 3.8% of the sale price!!!!!

Our house 'should' make around the $215,000 price (89,500 pounds) which means they take a massive $8170 !!! (about 3400 pounds!)

This house is in the first time buyers bracket and I think this fee is outrageous, they do no more than an estate agent in the UK, maybe less as they do home open here so they dont have to show individual people round at all times of the day.
we will need every penny we can get to return so may try and sell it ourselves? Any ideas?

Before anyone says it's the same in the UK, we only paid 999 pounds to sell a property of a similar value in Nottingham.
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Old Dec 1st 2003, 11:14 pm
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Default Re: Real Estate charges in Oz to sell our house!!!!!!

Originally posted by janeyray
As most of you know we are returning to the UK around May next year so we've had a few Real Estate agents round to value our property.

I am shocked at how much they want to charge us!!!!:scared:

Most want 3.8% of the sale price!!!!!

Our house 'should' make around the $215,000 price (89,500 pounds) which means they take a massive $8170 !!! (about 3400 pounds!)

This house is in the first time buyers bracket and I think this fee is outrageous, they do no more than an estate agent in the UK, maybe less as they do home open here so they dont have to show individual people round at all times of the day.
we will need every penny we can get to return so may try and sell it ourselves? Any ideas?

Before anyone says it's the same in the UK, we only paid 999 pounds to sell a property of a similar value in Nottingham.

that does seem like a lot of money for doing bugger all.

i would try and sell it myself for a while first and the estate agent would be the last resort, do they want any money up front, or on completion of a sale?
 
Old Dec 1st 2003, 11:17 pm
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Default Re: Real Estate charges in Oz to sell our house!!!!!!

Originally posted by janeyray
As most of you know we are returning to the UK around May next year so we've had a few Real Estate agents round to value our property.

I am shocked at how much they want to charge us!!!!:scared:

Most want 3.8% of the sale price!!!!!

Our house 'should' make around the $215,000 price (89,500 pounds) which means they take a massive $8170 !!! (about 3400 pounds!)

This house is in the first time buyers bracket and I think this fee is outrageous, they do no more than an estate agent in the UK, maybe less as they do home open here so they dont have to show individual people round at all times of the day.
we will need every penny we can get to return so may try and sell it ourselves? Any ideas?

Before anyone says it's the same in the UK, we only paid 999 pounds to sell a property of a similar value in Nottingham.
We just sold a house here for that price, commission (including GST) was just over $6000, so $8000 seems pretty high.

I know it cost us a hell of a lot more than 999 pounds to sell our house in the UK. But then, we didnt live in Nottingham.

Was the nottingham property valued at GBP215K? Or converted?. If you sold it for 999 pounds, do the same as you did over there for this house.
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Old Dec 1st 2003, 11:17 pm
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Default Re: Real Estate charges in Oz to sell our house!!!!!!

Originally posted by welshboybilly
that does seem like a lot of money for doing bugger all.

i would try and sell it myself for a while first and the estate agent would be the last resort, do they want any money up front, or on completion of a sale?
The money is payable on completion of the sale which is one bonus!!?
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Old Dec 1st 2003, 11:21 pm
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Default Re: Real Estate charges in Oz to sell our house!!!!!!

Originally posted by MrsDagboy
We just sold a house here for that price, commission (including GST) was just over $6000, so $8000 seems pretty high.

scandalous....they would never get away with that in the U.K

£1000 pound would cover the sale of most house's.
 
Old Dec 1st 2003, 11:22 pm
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Default Re: Real Estate charges in Oz to sell our house!!!!!!

Originally posted by MrsDagboy
We just sold a house here for that price, commission (including GST) was just over $6000, so $8000 seems pretty high.

I know it cost us a hell of a lot more than 999 pounds to sell our house in the UK. But then, we didnt live in Nottingham.

Was the nottingham property valued at GBP215K? Or converted?. If you sold it for 999 pounds, do the same as you did over there for this house.
The house in Nottingham sold for 85,000 POUNDS not $!! So in $'s thats about $204,000 so the fee would have been $7752 which is about 3230 pounds, still loads more than the UK!! Also we shouldn't compare it to the UK really because isn't is supossed to be a cheaper cost of living here in Oz?

In Nottm we used one of the top estate agents and there fees only went up to % if your house was over 100,000 pounds.

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Old Dec 1st 2003, 11:32 pm
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Default Re: Real Estate charges in Oz to sell our house!!!!!!

Originally posted by janeyray
The house in Nottingham sold for 85,000 POUNDS not $!! So in $'s thats about $204,000 so the fee would have been $7752 which is about 3230 pounds, still loads more than the UK!! Also we shouldn't compare it to the UK really because isn't is supossed to be a cheaper cost of living here in Oz?

In Nottm we used one of the top estate agents and there fees only went up to % if your house was over 100,000 pounds.

OK, you've got me stumped.

we are talking about a PERCENTAGE of a price for one, but not for another because the second one is cheap. Also talking about one price in pounds which is a third (roughly) of the other price & you think its the same?

So if your house in the UK was worth 215K POUNDS what would the commission be worth?

Why the HELL do people always convert dollars back to pounds etc?!?!?! Unless its to do with moving BETWEEEN countries, that just is completely a waste of time!
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Old Dec 1st 2003, 11:39 pm
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Default Re: Real Estate charges in Oz to sell our house!!!!!!

Originally posted by MrsDagboy
OK, you've got me stumped.

we are talking about a PERCENTAGE of a price for one, but not for another because the second one is cheap. Also talking about one price in pounds which is a third (roughly) of the other price & you think its the same?

So if your house in the UK was worth 215K POUNDS what would the commission be worth?

Why the HELL do people always convert dollars back to pounds etc?!?!?! Unless its to do with moving BETWEEEN countries, that just is completely a waste of time!
Look, to convert back into pounds from dollars to compare is a natural thing to do. All I'am saying is that here they want at least 3.8% of the sale price of our house. In Nottingham when we sold (85,000 pounds) the price was so much cheaper.

There is no way that in the UK you would pay these prices. My thread was about how much Real Estate agents in Perth charge compared to Nottingham Estate Agents. At the end of the day it's far more expensive to sell a house in Perth than it is in the UK for the same value of property.

I know you love Oz and that isn't my argument, neither is converting dollars to pounds. No offence intended to your or anyone else who loves it here
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Old Dec 1st 2003, 11:44 pm
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Hello everybody

I've just joined this forum, after seeing a link to it from an Australian Property Investors forum at http://www.somersoft.com

I have had the "pleasure" of selling in both UK and Australia.

Here in OZ it is about 3%+ of the selling price, but back in UK it was only 1%. So yes, It was one hell of a shock when we sold our first OZ home.

If you are selling, and are not in a hurry, i would suggest an advert in your local paper first, and if you have access to a web page, put the full details there, with a link to the page in your advert. That way people can get a better idea of your property.

But with the slowdown in property sales in some areas here, it may not sell as fast as it would have done just a few months ago.
 
Old Dec 1st 2003, 11:48 pm
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Default Re: Real Estate charges in Oz to sell our house!!!!!!

Originally posted by janeyray
At the end of the day it's far more expensive to sell a house in Perth than it is in the UK for the same value of property.
But thats my point, I dont think it is the same value at all, especially when you point out that the house in the UK was cheap & didnt even get charged at a percentage rate .

Anyway FWIW, my comment still stands, one of our houses sold for that price last month & our commission was just over $6000, I would tell them that you arent happy. The figure they quote you is the MAXIMUM they can charge, its NOT a fixed rate, I would bargain with them if you arent happy with it.

Good luck.

PS. Im pretty sure that it cost us 1.8% to sell our UK house, Dagboy will know for sure.

Last edited by MrsDagboy; Dec 1st 2003 at 11:51 pm.
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Old Dec 1st 2003, 11:52 pm
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Hi Janey,

You've got a bit of time haven't you? So why not try selling it yourselves first then if you struggle use a real estate agent. Make a board for the garden & put it in the paper etc & do your own home opens. Put signs up on the weekend when people are driving around & up on the board in the local supermarket etc. It's got to be worth a shot.

Or, what about bargaining with the agents & try & beat down their %. Say you'll use a different one unless they come up with a more competitive rate. Talking to one of the ladies round here she said they can be flexible.

Good luck!

Loopy
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Old Dec 1st 2003, 11:52 pm
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Default Re: Real Estate charges in Oz to sell our house!!!!!!

Originally posted by MrsDagboy
But thats my point, I dont think it is the same value at all, especially when you point out that the house in the UK was cheap & didnt even get charged at a percentage rate .
You really have me confused.

The house in the UK was 85,000 pounds which in dollars is roughly $204,000

The house here is selling for $215,000 which is roughly 89,500 pounds

This means that they are roughly the same value but here to sell the fees are more than double.
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Old Dec 1st 2003, 11:55 pm
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Originally posted by Loopy
Hi Janey,

You've got a bit of time haven't you? So why not try selling it yourselves first then if you struggle use a real estate agent. Make a board for the garden & put it in the paper etc & do your own home opens. Put signs up on the weekend when people are driving around & up on the board in the local supermarket etc. It's got to be worth a shot.

Or, what about bargaining with the agents & try & beat down their %. Say you'll use a different one unless they come up with a more competitive rate. Talking to one of the ladies round here she said they can be flexible.

Good luck!

Loopy
I think we will give it a go ourselves! Got nothing to loose really.

I did mention about dropping the fees which they are willing to do if the house doesn't make the required price! So the price drops for the house and so do their fees, which is still going to be the same!? lol
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Old Dec 2nd 2003, 12:22 am
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Go for it!!

That's you and the animals airfares they are taking I should think:scared: :scared:

Good luck - I'm sure you'll pull it off!

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Old Dec 2nd 2003, 12:53 am
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Try and sell your house privately. There is a package you can buy for $1500 It helps you with advice on how to sell and uses professional signs. If we sell there is no way we would go through an agent. They want $15000 to sell our place. What are they, just jumped up sales people with no education whatso ever. They do a weekend course in 'How to Sell a house'
A friend has just sold hers privately saving heaps of money.
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