FSBO Explained

Here's the video transcript:

There used to be just 2 ways to sell property in Australia The first was to pay a real estate agent a commission of between 2% - 4% of the sale price. This meant that for the average sale in Sydney - a seller would pay an agent around $20,000 !! If you didn't want to pay a commission then of course you could do a "For Sale By Owner"  sale instead The problem with that was, you couldn't get your listing on realestate.com.au ( the most important site ) unless you were with an agent !! In other words if you used the agent you lost thousands in commissions and

if you didn't use the agent, you lost the best marketing avenue available. This meant that trying to arrange a for sale by owner sale would probably cost you more money than the commission you saved. This was just because you would struggle to show your listing to as many buyers as possible and so obtain highest price, unless you could advertise on realestate.com.au This was a very serious problem and was enough to put most people off the idea of private selling. That was until one real estate agency started to stand up for private sellers rights. The agency is called PropertyNow and over a decade ago, the agency decided to start Agent Assisted Private Sales as a way of getting for sale by owners onto realestate.com.au and other sites which had only been available to the agents. Fast forward and at the time of writing PropertyNow has saved Australians tens of millions of dollars in real estate agent commissions. In fact PropertyNow was so successful that a number of new businesses jumped on the bandwagon and the industry grew rapidly. Unfortunately the companies who followed were more interested in turning a fast buck than providing a genuinely valuable new service. Many of those companies were banned by realestate.com.au or got in trouble with Fair Trading. One of the largest was even knocked off realestate.com.au for over a year. All the while PropertyNow kept developing the industry it had created.

By 2010, so many people had started to sell with no commission that the agents lobbied realestate.com.au to try to close the PropertyNow realestate.com.au account…in an attempt to cripple the industry leader. Undaunted PropertyNow approached the Regulator and fought until in the end, realestate.com.au admitted its ‘error" under competition law. What does all this have to do with you? Well like so many things that we take for granted, you are now easily able to list your private sale (agent assisted private sale) on realestate.com.au….. …… and it is only possible because of because of the tenacity of the PropertyNow real estate agency Talk about the best of both worlds !! You pay no commission at all and you still get the advice and support of a Licensed real estate agency. This means you have all of the benefits of an agent, mixed in with the huge cost savings of private selling. We know you want learn more but that's precisely why you need to visit the site that started it all  …..

Check this out for information -https://www.youtube.com/watch?v=yM-YhblbYXg