Don't want, (or need) to start a new thread - still want to post it though

[Black_White]

Am downsizing therefore selling my home. Have contacted an agent and his fee is 1.25% plus GST of sale. Is that good or the usual percentage?

I quite like the agent and don't really want to shop around. Anyone have any recent experience on selling their home?

We sold our home, ourself, in 2004.
It’s not that hard.
You will need a solicitor/conveyancer, though only the latter is required, to do the legalities.
Of course you will then take responsibility for advertising the property and conducting any open houses.
This could still be much cheaper for you than an agent will charge. ( you need to ask if your agent will charge advertising on top of the 1.25% plus)
The market seems on a downward trend according to this weeks Age report. If that is the case then an agent might be a preferred option.

This may help.
https://www.choice.com.au/money/property/selling/articles/online-real-estate-agents
https://www.buymyplace.com.au/

 

[Black_White]

Not a street art fan myself, but had to chuckle at this.
http://www.abc.net.au/news/2018-10-...f-destructs-after-going-under-hammer/10346556

Though my smile turned to a frown at the suggestion that the “art” may now be worth even more!
How many “ one born every minute” are there out there?

 

[Maggie5]

We sold our home, ourself, in 2004.
It’s not that hard.
You will need a solicitor/conveyancer, though only the latter is required, to do the legalities.
Of course you will then take responsibility for advertising the property and conducting any open houses.
This could still be much cheaper for you than an agent will charge. ( you need to ask if your agent will charge advertising on top of the 1.25% plus)
The market seems on a downward trend according to this weeks Age report. If that is the case then an agent might be a preferred option.

This may help.
https://www.choice.com.au/money/property/selling/articles/online-real-estate-agents
https://www.buymyplace.com.au/

Thanks for the links.

Not doing any advertising and selling the house to what they refer to as 'off market' (basically a private sale without the board/advertising) as I am not in a hurry and houses in my area seem to be a desired suburb.

Was told I need a Section 22, contract and things like rate and water notices.

I was really only enquiring as to whether the percentage seems right.

 

[Black_White]

Ahhh....bugger, bugger...bugger.
http://www.abc.net.au/news/2018-10-...tin-kenihan-dies-in-adelaide-aged-43/10348452
Spent a night with Quentin at Crown watching ELO part 2. ( he sat next to us in the front row)
Was a massive fan of ELO, and despite being confined to a chair (which was a great bit of technology btw) he rocked it out on the night.
And very generous with his time when people approached him.
Don’t think he ever got to see his favourite band after the master Jeff Lynne went back on the road.
I’ll say a little “prayer” for Quentin in Dublin on the 25th.

 

[Black_White]

Thanks for the links.

Not doing any advertising and selling the house to what they refer to as 'off market' (basically a private sale without the board/advertising) as I am not in a hurry and houses in my area seem to be a desired suburb.

Was told I need a Section 22, contract and things like rate and water notices.

I was really only enquiring as to whether the percentage seems right.

Seems fair that percentage.
Just make sure about any “extras”. Ask the question. “Inclusive” pricing?

 

[ottoman]

Am downsizing therefore selling my home. Have contacted an agent and his fee is 1.25% plus GST of sale. Is that good or the usual percentage?

I quite like the agent and don't really want to shop around. Anyone have any recent experience on selling their home?

GST on the sale of a house?
When did this start happening.

 

[Maggie5]

GST on the sale of a house?
When did this start happening.

Under services (Goods and Services Tax).

 

[left at home]

Under services (Goods and Services Tax).

It is a new house, run a business from it, cause generally you don’t pay gst

 

[BPikkers]

It is a new house, run a business from it, cause generally you don’t pay gst

CGT

 

[Maggie5]

It is a new house, run a business from it, cause generally you don’t pay gst

I did run a consultancy and clothing business from home but never declared or used it as a deduction as there were too many problems with insurance, tax, utility bills, calculating floor area etc etc, then of course Capital Gains Tax. They get you from everywhere.

 

[left at home]

I did run a consultancy and clothing business from home but never declared or used it as a deduction as there were too many problems with insurance, tax, utility bills, calculating floor area etc etc, then of course Capital Gains Tax. They get you from everywhere.

Yes they do, oh of course, l thought you said gst, sorry

 

[ottoman]

Under services (Goods and Services Tax).

GST on the sale of the house or GST for the agents services.
I thought houses were exempt from GST.

 

[BPikkers]

How can it be that the medicos at each club can be so very different when it comes to reputation for treating injuries and getting players back in the park? Obviously we have had issues with soft tissue injuries (not sure if it has been the treatment/program or other circumstances), however, when it comes to knees, the Pies recovery is probably one of the best in the league.

Surely this is something that can be rectified. Whether it be reviewing methods used by others, or bringing in another expert in the field, I can’t understand how this can go on. Is it the training surface? Well let’s fix that up tomorrow. If it is our program, get the experts in to review it.

Seems simple to me. Or am I missing something here?

 

[Maggie5]

GST on the sale of the house or GST for the agents services.
I thought houses were exempt from GST.

GST on commission. Sorry, now I get what you were asking. Duh, silly me.

 

[DinoSoar]

GST on commission. Sorry, now I get what you were asking. Duh, silly me.

Have you looked at Purple Bricks? Based on their advertising, their point of difference is not charging commission so you would need to compare their flat fee against what a commission based agent would charge to determine if it’s a good option for your circumstances. It might be worth a look and comparing if you are planning a more low key sale.

 

[Obese Arachnid]

GST on commission. Sorry, now I get what you were asking. Duh, silly me.

When selling the family property I talked to four agents. Purple Bricks, a local one that was the "biggest in the area" & two other that wanted to move into the area.

I was impressed with Purple Bricks but in the end was too gun shy to go with them considering it was the family home.

The two who wanted to get a foothold in the area gave me somewhat fanciful predictions of what we would get for the property. I then decided to test them. I said we'll pay 1% up to 1.2M, then 2% for every dollar over 1.2M up to 1.4M & finally 5% for every dollar over 1.4M. Both these agents "guaranteed" min 1.4M. Both wouldn't commit to my request. Bullshit artists, it wasn't realistic in any sales history in the area at the time.

We ended up going with the "local powerhouse" & got what we though was fair value. Think we paid 1.15 or 1.2% +GST.

Shop around & test their resolve.

 

[Maggie5]

When selling the family property I talked to four agents. Purple Bricks, a local one that was the "biggest in the area" & two other that wanted to move into the area.

I was impressed with Purple Bricks but in the end was too gun shy to go with them considering it was the family home.

The two who wanted to get a foothold in the area gave me somewhat fanciful predictions of what we would get for the property. I then decided to test them. I said we'll pay 1% up to 1.2M, then 2% for every dollar over 1.2M up to 1.4M & finally 5% for every dollar over 1.4M. Both these agents "guaranteed" min 1.4M. Both wouldn't commit to my request. Bullshit artists, it wasn't realistic in any sales history in the area at the time.

We ended up going with the "local powerhouse" & got what we though was fair value. Think we paid 1.15 or 1.2% +GST.

Shop around & test their resolve.

Thanks OB.

I quite liked the guy (Nelson Alexander) who came around and he sold a house two doors down from me for $1.1M. No advertising or board either as I didn't even realise it was for sale, thought they were going to rent. They sell a lot of houses in my area.

Will check with one other (also sells in the area - Barry Plant) and compare. He did start off at 1.5 and I asked if it was the best and then he brought it down to 1.25.

I quite like the idea of selling 'off market', no signs or advertising as have plenty of time.

Have you looked at Purple Bricks? Based on their advertising, their point of difference is not charging commission so you would need to compare their flat fee against what a commission based agent would charge to determine if it’s a good option for your circumstances. It might be worth a look and comparing if you are planning a more low key sale.

Thought of them but only good if advertising also read quite a few bad reviews about them

 

[Black_White]

GST on the sale of the house or GST for the agents services.
I thought houses were exempt from GST.

GST would apply on the commission only.
The house is exempt.
The commission is a “service”.

 

[Black_White]

Thanks OB.

I quite liked the guy (Nelson Alexander) who came around and he sold a house two doors down from me for $1.1M. No advertising or board either as I didn't even realise it was for sale, thought they were going to rent. They sell a lot of houses in my area.

Will check with one other (also sells in the area - Barry Plant) and compare. He did start off at 1.5 and I asked if it was the best and then he brought it down to 1.25.

I quite like the idea of selling 'off market', no signs or advertising as have plenty of time.



Thought of them but only good if advertising also read quite a few bad reviews about them

Based on a million dollar sale, that’s $12,500.
Very reasonable

 

[jathanas]

The situation with North Melbourne and the war chest is getting cringeworthy.

 

[Maggie5]

Just thought I would update my association with professionals in my life. Dentist, Doctor, Specialists...guess who my solicitor barracks for? Yep Collingwood.

I will be so disappointed if I have to contact one that doesn't support Collingwood, think I might ask for a referral.

 

[Saintly Viewed]

Chris Scott after his recent rent review

 

[Saintly Viewed]

But you owe us over 800 large

 

[Saintly Viewed]

You’re not going to escape the media Chris

 

[Obese Arachnid]

Just thought I would update my association with professionals in my life. Dentist, Doctor, Specialists...guess who my solicitor barracks for? Yep Collingwood.

I will be so disappointed if I have to contact one that doesn't support Collingwood, think I might ask for a referral.

Mags, have you been up to no good again?