A mother-of-two has revealed she saved over $17,000 by handling the sale of her home herself.
In December, Gold Coast-based Chrissy Gowan sold her three-bedroom home and said if she had used a traditional real estate agent, she would have paid over $26,000 in sales fees.
The townhouse, located in Warriewood on Sydney’s Northern Beaches, was on the market for six weeks and sold for $1.2 million – fetching exactly what it was worth for a property in the area.
Chrissy Gowan (pictured) listed her three-bedroom townhouse and said if she had sold it using a real estate agent she would have paid over $26,000 in sales fees
Mrs Gowan, 38, told FEMAIL she was ‘intrigued’ by the idea of selling her home without using a real estate agent, but also made sure she explored a range of other options first.
‘We had a couple of local agents come through the home and their price guide was similar,’ she said.
As a result, Mrs Gowan and her husband decided they would sell their home using a full-service flat fee real estate agency.
The Gowan’s home in Warriewood on Sydney’s Northern Beaches sold for $1.2 million
Ms Gowan revealed she paid a flat fee of $8,696 however because she has children she spent extra money on having her home professionally styled
What’s included in a full-service flat fee:
* Marketing: Homes are listed on realestate.com.au, domain.com.au, and purplebricks.com.au
* Professional Photography, floor Plan and description
*Access to online platform: Includes booking viewings, offers made by buyers and
*Other extras: These can include accompanied viewings, advertising upgrades and video
The couple paid $8,696 to list their home with Purplebricks – $6,870 on auction fees plus an additional $1,826 on advertising.
According to the Purplebricks website calculator, total commission fees on the $1.2million dollar property would have been $26,000.
Based on these figures the pair saved $17,804.
However, Mrs Gowan did reveal she had her home professionally styled which cost $3,000.
The agency, which helps homeowners sell without an agent, said it passes on its savings to its customers through lower overheads, and it’s main focus is helping people save.
‘We refer to the commission charged by traditional agents as “commisery”, chief marketing officer Matt Siddons told Daily Mail Australia.
The Gowan children (pictured) following the sale of their family home
‘That’s the miserable feeling of paying thousands of dollars extra and getting nothing more for your money.’
The average commission for real estate agents is two to two and a half per cent of the sale price of a home.
While selling without an agent can save money, real estate experts say there are some important factors to consider before embarking on a sale.
Malcolm Gunning, President of the Real Estate Institute of Australia (REIA) told Daily Mail Australia that while technology has changed the real estate industry, the value of using a traditional agent can’t be overlooked.
The average commission for real estate agents is two to two and a half per cent of the sale price of a home
Mr Gunning said using a flat-fee service can offer savings but those who choose to do so need to be realistic about what they expect in terms of service.
He recommended those considering using a flat-fee service take a close look at what is being offered and weigh this up against what they need.
‘Online services [such as Purple Bricks] facilitate a sale and irrespective of whether the property sells or not, there is a listing fee paid up front,’ he said.
‘Real estate agents drive vendor price in order to get the best price possible for the homes they sell.
Ms Gowan said the savings the family made by not using an agent will go toward helping them buy their dream home
‘Unlike flat-fee services, a licenced real estate agent will charge a success fee and if they don’t meet your expectations, they don’t get paid.’
Mrs Gowan said selling her home using flat-fee service was not only a straight-forward process, the savings they made not using an agent will go towards buying their new home on the Gold Coast.
‘We are currently trying to choose our dream home and the savings we made from selling our home ourselves will have a huge impact,’ she said.