N
icholas Gray decided to sell his property in regional Queensland without involving a real estate agent due to high commission fees. He listed the property on a third-party website that allowed the advertisement to be displayed on popular real estate websites for a flat rate. Within 12 hours of listing, he had an inspection organized and three weeks later, the property was under contract. It sold for $40,000 more than the agent's estimate, allowing Mr. Gray to save around $11,000 on commission fees.

    Michael Fotheringham, managing director of the Australian Housing and Urban Research Institute (AHURI), noted that selling privately is becoming more popular due to increased popularity of third-party businesses that charge a flat rate to list homes on real estate portals such as realestate.com or Domain. Colin Sacks, who runs ForSaleByOwner.com.au, reported a 30% increase in enquiries over the past year. Wendy Baxter and her family have spent the past year renovating their investment property in Rockhampton in central Queensland. They plan to sell the property privately due to high renovation costs and the high commission fees charged by agents.

    Antonia Mercorella, CEO of the Real Estate Institute of Queensland (REIQ), emphasized the importance of real estate agents in the sale process. She noted that selling a property requires knowledge of various legislation and an understanding of how to complete a contract of sale. Even in a seller's market, selling a property is a big undertaking.

    Nicholas Gray found the process challenging, particularly the time spent getting the house ready, showing people through the house, and communicating with them. However, he found the money saved and control over the process worth it. Dr. Fotheringham pointed out that selling privately reveals the hard work done by agents, who present the property, show it to potential buyers, and discuss its features.