What is the Cheapest Way to Sell a Property in Australia?

The cheapest way to sell a property in Australia is to take a do-it-yourself (DIY) approach and minimise expenses related to professional services. Here are some cost-saving strategies to consider:

Sell by Owner (FSBO): Selling your property without the assistance of a real estate agent is known as a For Sale By Owner (FSBO) transaction. By taking on the responsibilities typically handled by an agent, you can save on commission fees. FSBO platforms and websites provide a platform to list your property and connect with potential buyers directly. Whilst this is a good way to save money, you may miss out on potential buyers by not going through a real estate agent. A good middle-ground is to use an App such as bRight Agent to still get an agent but with significantly reduced commission and fees.

Flat-Fee MLS Listing: Instead of engaging a traditional real estate agent, you can explore flat-fee Multiple Listing Service (MLS) listing services. These services allow you to list your property on the MLS for a flat fee, giving you exposure to a wider audience of buyers without paying a percentage-based commission.

DIY Marketing and Advertising: Take charge of marketing and advertising your property. Use online listing platforms, social media, and local community channels to reach potential buyers. High-quality photographs, well-written descriptions, and engaging marketing materials can make a significant impact on attracting buyers without the need for expensive professional services.

Opt for Online Conveyancing: Engaging a solicitor or conveyancer is a common practice in property sales, but their fees can vary. Consider using online conveyancing services that offer lower-cost options while still providing the necessary legal support for the transaction. Research reputable online conveyancers and compare their fees and services.

DIY Property Preparation and Staging: Prepare your property for sale by decluttering, cleaning, and making minor repairs yourself. Additionally, consider staging your property using your existing furniture and decor. Look for resources and tips online to help you create an appealing and inviting space for potential buyers without the expense of professional staging services.

Negotiate Service Provider Fees: When engaging service providers such as photographers, cleaners, or tradespeople, request multiple quotes and negotiate their fees. Some providers may offer discounts for bundled services or be open to negotiation, helping you save money on these expenses. Again, the bRight Agent App can help significantly reduce the costs of these other fees.

While adopting a DIY approach can be cost-effective, it’s important to recognise the potential challenges and additional responsibilities it entails. Selling a property involves legal and financial complexities, marketing expertise, and negotiation skills. Be prepared to invest time, effort, and research to ensure a successful sale.

Selling without an agent may save you money, but could be fraught with pitfalls!

It’s also worth noting that whilst engaging with professional services can cost some money, it can also result in a much higher sale price. Some industry experts suggest that the net return on the expenses can be worth 2x or 3x the initial outlay costs when it comes to achieving that higher sale price.

So before deciding on the cheapest selling method, consider your personal circumstances, comfort level, and the complexity of your property sale. Consulting with local professionals or seeking guidance from experienced DIY sellers can provide valuable insights and help you navigate the through the cheapest way to sell a property in Australia. Alternatively, you can look at a service such as bRight Agent to get lower real estate agent commission and other fees.