How to list a property For Sale By Owner Victoria
Get the rundown on how to list a property For Sale By Owner Victoria. If you want to know how to list your own property for sale, read on.
Selling your home—or investment property—can put you on the path of financial freedom or free you up to do the things that add value to your life.
Naturally, you want to sell your property for the maximum profit to help whatever your next stage in life brings. One of the easiest ways is to skip the real estate agent and list it as For Sale By Owner.
Keen to read more? Continue for exactly how to list a house for sale by owner in Victoria with some links to helpful information.
What exactly is the For Sale By Owner Victoria selling method?
The name pretty much says it all here—a For Sale By Owner (known as an FSBO for short or sometimes a ‘No Agent’ property sale) is when you, the owner, sell your property without using a traditional real estate agent to facilitate the sale.
Skipping the agent means you won’t need to pay any agent commissions or advertising costs. You could save yourself thousands of dollars.
There’s never been a better time to sell property. Buyers are hot to trot at the moment— in fact, for every new property that comes onto the market, there’s an estimated 1.4 properties sold around the country.
A real estate agent isn’t the vital part of selling a property. It’s just the piece you can leave out. But it is worth looking at hiring independent sales experts like a property valuer and a conveyancing solicitor to help make your FSBO journey a smooth ride.
Are you allowed to FSBO in Victoria?
Yes, it’s entirely legal to list For Sale By Owner in Victoria to sell your property. The number of FSBO’s in Australia is still quite small, but there are plenty of opportunities for growth!
How much does for sale by owner cost in Victoria compared to agents’ fees?
In Melbourne and Victoria, agent commissions are generally lower than the rest of Australia, but you can still expect to pay around 1.99-2.05% plus GST. The median house price in Melbourne is $962,500, meaning you’d be parting with almost $20,000 for using a real estate agent to sell your home.
When you consider that guidance from PropertyNow to sell your home comes in at $694, that’s some serious funds to consider!
Don’t forget the advertising fee your agent charges to promote your property. This is usually an extra 1% of your asking price—that’s almost an additional $10,000 to sell your Melbourne home! Your real estate agent has just taken a nearly $30,000 chunk out of your profit.
Melbourne housing values have risen 15% higher over the year, making it the highest in Melbourne since 2010. It’s a great time to consider using the For Sale By Owner VIC method and pocket those extra costs yourself.
Is it the right time to try and list for sale by owner in Victoria?
Melbourne housing levels are currently the lowest in Australia and are consistently considered softer than the national average. That said, we’re seeing one of the highest housing values in more than a decade, with an 18% lift in house values over the year.
Melbourne apartments rent for an average of $390 per week, while houses have a higher rent of $430 weekly. Gross rental yields are lower compared to 2020 at 3.5% for apartments and 2.4% for homes.
Low interest rates, buyer appetite and strong consumer confidence have experts expecting prices to continue rising into 2022. The median rate for a unit in Victoria is now $619,433, with house prices almost cracking the $1 million mark at $962,500.
You can check out our current FSBO listings here.
We genuinely believe everyone could find property sales success using the For Sale by Owner Victoria method. We have the right expert advice to help you skip the real estate agent and save more.
Don’t get intimidated by selling your own property. At PropertyNow, we pride ourselves on helping homeowners in Victoria and Australia successfully sell their homes using FSBO.