Loading
 
Are you a buyer, seller or an agent?
BuyerSeller Agent

Blog articles - Selling your home yourself

COVID-19: Click here for an update on buying and selling during restrictions
165000 more than the conventional real estate agents best estimate

$165,000 more than the conventional real estate agents best estimate.

Posted 22 September 2021

My name is Iain Macpherson, and I want to share my story about my father, Robert.

My father, Robert, had a stroke and needed to move permanently into a nursing home earlier this year. We both live in Warrnambool. He had been on his own for a few years, and I was apprehensive and worried about the impact this move would have. My focus was to find the best care possible in Warrnambool.  

People who have had dealings with nursing homes would know that you have to pay a costly deposit, and the family home, a simple three bedroom 1970's brick veneer, had to be sold. 

I needed $450,000 for the nursing home I had chosen and felt would be best for Dad.

My sister and I engaged the services of a financial advisor to help us with all the paperwork, and they also suggested that we use a conventional real estate agent to help us sell my fathers' house.

To keep things brief, the real estate agent I spoke to first suggested the maximum price Dads home was worth was $70,000 short of what was required to pay the nursing home deposit. 

This was money we didn't have. I was worried.

I have a sales component job, and I decided that I could do a better job selling the house than an agent. So, I started searching consumer affairs regarding the rules around selling a home and other sites related to selling a house. 

The social media algorithm being what it is, Next Address popped up. I had a bit of a look at what was on offer with Next Address, then requested their Golden Rules eBook. 

This eBook explained what I needed to do to sell a home without a traditional agent successfully.

After a few emails, the CEO, Julie O'Donohue, gave me a call. Julie explained how Next Address would be perfect for someone like me who is confident dealing with other people but not confident with the paperwork involved, nor experienced in styling and presenting the house.

She also outlined how Next Address managed the advertising and marketing on all the major real estate portals. I received a fixed cost quote explaining what Next Address could help me with and leaving out the bits I was confident and happy to do myself.

I shifted the responsibility for all the tasks that I didn't enjoy doing Next Address and Julie's way, and I took care of the fun bits, like showing people through my father's home.

Next Address arranged a virtual styling session with photos, and we then received a report on what to do. My wife and I followed all their advice. This process really helped present the house in the best possible way so that it looked like a million dollars on the real estate sites. 

We did not use a professional stylist.

Next Address arranged a virtual tour, drone, floor, and site plans. This helped with the covid issues too. Potential buyers told me they were impressed by how professional the home looked and the virtual tour.

After a weekend of inspections and lots of views of the virtual tour online, there were three active buyers. The sale took only five days from being advertised on a Friday afternoon to being done and dusted on the following Wednesday.

Next Address has a customer dashboard so communication is easy. We had three active buyers making offers through the dashboard. At every step along the way, I felt in control and fully informed regarding decisions and negotiations as they arose.


I will finish my and Dad's story where I began.

The best possible estimate from the real estate agent was $70,000, short of the amount we needed for the nursing home deposit. However, selling the house myself with Next Address assistance in the background delivered $95,000 more than we required.

Yes, that is correct.

With the help of an online real estate service - Next Address, we sold our house by private sale, with me doing the inspections for a massive $165,000 more than the conventional real estate agents best estimate.

Plus, there's more.

The bonus is that the Next Address fixed fee for the service was slightly more than $5,500, whereas a real estate agent on 3.0% commission would charge $16,350 plus advertising costs. 

This experience has taught me to get the best possible price, some rules need to be followed. With Next Address at our side, we knew what these rules were and how to follow them. They held our hand the whole way through.


This story might sound a little far-fetched, but I assure you that I am a real person who sells animal feed to farmers for a living. If anyone wishes to contact me so I can share my experience, then they are very welcome.


Dad's been in care for a while now, and he's happy and is enjoying the company. The nursing home is just as fabulous as I thought it would be.  I am relieved and stress-free as we can now afford to keep Dad at this home. 

I don't usually give testimonials, but I wanted to share my story so others may benefit.  I said to Julie I would be happy to speak to anyone about my experience. 

Iain Macpherson.

Warrnambool


General