How To Save Money Selling Your Home with Purplebricks is a sponsored post.
When I’ve sold homes in the past, the biggest thing I’ve wanted to achieve is the highest asking price possible. Most people want that, don’t they?
However the costs involved in selling your home can sometimes have a major impact on the profit you (hopefully) come away with.
Real estate, legal, banking fees and other selling costs can really drive down the money you’re left with when the sale completes. I’ve always tried to factor these costs into my asking price when possible.
I’ve had mixed experiences with real estate agents. Some have done a fantastic job at marketing my property, maximising their database of buyers and giving me great tips on getting my house market-ready. Others have charged a small fortune to simply list the property and wait for a buyer to come along.
I’ve found inconsistencies in the fee they charge. And confusion about how it relates to the level of time and effort they put in to sell my property.
When I lived in Sydney I was amazed, and am more so now, at the cost of buying a property there.
We bought a small 2 bedroom townhouse in the Inner West. I loved that little house and after years of renting, we finally had a foot on the property ladder. Although for the same price out of Sydney, we could have had a 4 bedroom family home with land to spare!
Sydney’s median house price is currently $852,000, Brisbane’s $486,000 and Melbourne’s $641,200. Sydney is expensive to live in, although it’s one of my favourite cities in the world and a fabulous place to call home.
How to save money selling your Home with Purplebricks
I first heard about Purple bricks property when I lived in the UK and they arrived in Australia four months ago. They’re a game-changing real estate agency that is set to save Sydney sellers big bucks.
Purplebricks promise Sydney sellers:
- a greater level of transparency
Rather than paying a separate commission and marketing cost, Purplebricks offer a flat fee model.
After successfully launching in Melbourne, Brisbane, the Sunshine and Gold Coast in August 2016, Purplebricks has just launched in Sydney and parts of the Central Coast. Their unique offer is that they have dedicated local property experts and 24-hour technology to sell homes.
In fact it’s estimated that this model could save Sydneysiders $15,084 per sale in combined commission and marketing costs, translating to massive savings for homeowners in Sydney. With marketing costs wildly variable across Sydney, this saving is likely to be considerably more.
So many of my Sydney friends are either struggling to get into the Sydney property market or to sell their house. Especially given the inflated real estate agent fees they have to factor in.
I’m hoping the Purplebricks flat fee model will put an end to this.
In the four months they’ve been operating here, they’ve already exchanged or settled on over 150 residential properties through auction and private treaty sales and in doing so have delivered an estimated $1.7m in savings back to sellers.
When it comes to selling their home, Sydneysiders now have a choice away from the traditional high-cost real estate option. I would have welcomed an opportunity to save money in Sydney when we sold our home there!
Purplebricks has been rated 9.5/10 (“Excellent”) by its Australian sellers to date on independent rating service TrustPilot.com. The average time on market for a Purplebricks property is 24 days.
Here is an example of a recent sale made with Purplebricks:
Heidelberg Heights (Melbourne) – Auction
Homeowner Tanya Elsegood listed her property with Purplebricks through her Local Property Expert for the area, Prudence Jones.
The reserve price was $765,000 and the property quickly sold at the first auction for $787,000.
Tanya saved over $15,000 thanks to Purplebricks.
You can find out more about Purplebricks here.
Do you have tips on how to save money selling your home? Based on the ABS NSW mean price of a home $822,000, multiplied by 2.2% average agent commission, plus $2,500 average marketing costs of other agents, minus the Purplebricks $5,500 NSW flat fee (Source: ABS)
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