Looking to sell your home privately in the ACT?

Real estate commission rates in the ACT are largely an unknown. Typically agents charge between 2% and 3.3% with a minimum charge of $10,000. All we can suggest is that you ring a few and ask, be careful as some will include advertising costs in their rate and some don't. Some agents at this stage will request to do a sales presentation before telling you about their rates, you will have to make your own judgement as to what to do here. Consequently many people elect to sell their property privately in Canberra. If you do want to sell privately below is list of things to consider and costs associated:

Documentation According the the Civil Law Act 2003 (Sale of Residential Property), four documents are necessary before properties can be marketed for sale. These are: a contract of sale, Energy Efficiency Rating Report and Building and Pest Inspection reports (not required for multi-story buildings, ie units/apartments). You will need to contact a solicitor to draft the contract of sale which needs to include a Title Search and Crown Lease. A list of firms that do conveyancing can be found on the Law Society of the ACT website. Energy Effeciency Rating Reports can be completed by accredited assessors only a list is available on the ACT Planning and Land Authority website. Building and Pest inspectors can be found in the yellowpages.
Listing To gain the necessary exposure for your property allhomes take private property listings for a fee of $895. The listing is current until your property sells. Other smaller sites also list private sales but do not have the audience of allhomes.
Marketing Photographs of your property are important in generating interest amongst prospective buyers. Many people do real estate photography in canberra and usually charge around $150.
Flyers Many prospective buyers will appreciate a flyer about your property when they inspect. A plan of the house is perhaps the most important aspect of this, to allow buyers to look at extensions, redesign, renovations etc.
Be available Once your home is on the market the most important factor is to be available for buyers to contact you. Provide as many forms of contact as possible including an email address and phone number. Buyers appreciate being able to view properties at their convenience, you may miss buyers if you only allow inspections during very specific times.

Other things that you would prefer not to think about but should include:

Insurance Check with your insurance company in regards to your cover for theft or public liability claims during the sale process.
Rental Agreements Remember if you are selling a property that is tenanted and you have a tenancy agreement, you can not offer to sell the property vacant. The tenancy agreement must be honoured until the end date unless the tenants are in agreement to vacate earlier. This agreement MUST be in writing and signed by the tenants and ALL owners of the property.

General information about preparing your property for sale can be found on our Selling section.