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​Real Estate and Legal Fees

​Having had quite a lot to do with the property market over the past few years, Real Estate and Legal Fees are a costly expense. Upon selling our home I bought a "Do It Yourself Conveyancing Kit" from my local newsagent for $60.00, and organised my bank manager to follow up on the final financial transactions of sale. The cheapest quote from a solicitor was $890.00. It cost me $60.00 for the kit and $14.00 to get my own council search done, a saving of $816.00. I then put another property on the market and was not happy with the Real Estate fee structure, so upon calling several other Real Estate Agents, I found one who would give me a flat rate fee, instead of a % of sale fee, no extra advertising fees or anything. This has saved me in excess of $1500.00 and once again I'm using my $60.00 Conveyancing Kit from the previous sale. A little bit of research and bargaining paid off. Contributed by Lea, Mt. Isa, October 5th 2006

​Sell Your Own House

Just by chance I happened upon a website called http://www.forsalebyu.com.au you can advertise your house on here to sell. There is a calculator to show you what you would save in agent fees & commission. I typed in a sale price of $220,000 and the savings come up as $6,101.00.
​Contributed by Marie, Tarneit, February 9th 2005

​Negotiating Fees at Point of Sale

As a Real Estate agent for many years I understand sellers wanting to pay the least amount of money for an agent to sell their home. If you want to negotiate the fee do it at the point of sale, when you have an offer on the table. This is when the agent is most likely to reduce their commission to get the deal across. Don't do it before you start the sale i.e. at the point of listing, this doesn't encourage the agent to work his/her hardest for you.
​Contributed by Helen, Oakford, March 11th 2005

​Sell Your House Yourself

Approximate $ Savings: $15,000

I sold my house in Fremantle, WA for more than the real estate agents said I would get. I have no sales experience and have never sold a house before. I spent $80 on a sign and sold it in 3 days. Firstly I borrowed a book from the library called Real Estate Without the Agents and used the tips from there. You can list your house on the Internet for free on www.owner.com.au. Then I put a more professional reply on my answering machine and waited for the calls. I received 20 calls over three days and sold my house on the third. If I had paid real estate fees it would have cost me upwards of $15,000 so you can do it yourself. What have you got to lose?
​Contributed by Lizz, Gerringong, 26th June 2007

​Save Thousands of $$$ on Real Estate Purchases

Don't make costly mistakes... Get FREE investment advice and support from The Investors Club. We have been investing in property for around 10 years, learning as we go, either buying and renovating our own homes or purchasing properties as renters. We have made some excellent capital gains and saved heaps in tax but we have also made some investment choices that could have been more successful had we had someone with more experience to assist us with our decisions on what, where and when to buy. Recently we were very excited to learn about The Investors Club, a totally free property investment club, operating across Australia, that offers expert advice and support to help you build a property portfolio that can fund your retirement. They have a fantastic formula for investing in property that has saved us thousands of dollars in costly mistakes and taken the stress and worry out of property investing. Take a look at their website www.tic.com.au and attend a free workshop to find out more.
​Contributed by Karen, Launceston, 18th September 2008

​Find An Agent Online

I have found this fantastic site to help home sellers save an average of $1500 in the commission that you have to pay to your real estate agent. They promise to find you the best agents to sell your home anywhere in Australia. If you have say a $500 000 house in WA you save $1980-$2145, In Vic:$1056-$1650, in NSW: $1320- 80, in Qld:$1709, in SA:$1320-$1815, In ACT:$1650-$2640, in NT:$1650-$2640 and in Tas:$2627.This is a free service that is paid for by the selling agent. Every home sold will donate $150 to the Fred Hollows Foundation and if you refer a friend who sells their home you will receive $100. The website is www.FindMeAnAgent.com.au
Contributed by Erin, Beeliar, 27th January 2009
​ Website: www.FindMeAnAgent.com.au

​Negotiating a Better Deal is Not Just for Buying

Approximate $ Savings: $1400

​ I wanted to sell some land but didn't want to pay the $8000 commission so I looked up on the RESI.com.au site and checked what percentage commissions agents take in NSW, then I rang a real estate agent and negotiated the commission down by $1000. He was quite happy to do a deal. Then I rang around solicitors and conveyancers and got quotes for the conveyancing. The first and second quotes were for $1300 and $1400 but when I called a conveyancer the whole price was $940, saving me at least $360, and possibly up to $460. It certainly pays to negotiate and get a few quotes. Contributed by Vicki, Rye, 8th August 2009