It can be tricky negotiating the private sale of a property as a for sale by owner. This process usually begins with verbal offers but we highly recommend that when conducting a real estate private sale as a for sale by owner you encourage potential buyers to make all offers in writing. When a price and conditions are finally agreed on by both you and the purchaser, the offer must be made in writing and any amendments need to be made to the Contract of Sale.

Offers to purchase a property whether through a private real estate sale as a for sale by owner or through a real estate agent can be conditional or unconditional. A conditional offer is one that is subject to conditions that need to be met in order for the sale of the property to be finalised. If these conditions are not met within the pre-arranged time, then the offer is void and the private real estate sale will fall down. Both buyers and the for sale by owner may have specific conditions they would like to impose on the sale.

Buyer conditions may include things like:
• A building/inspection report which needs to be complete and match the buyer’s expectations.
• The buyer may want to move in immediately.
• The sale may be conditional on the buyer selling their property.
• The for sale by owner may be required to fix a default in the property.

For sale by owner conditions may include things like:
• A specific amount of money as a deposit from the buyer.
• An early settlement date.
• The option to lease the property for a period of time.
• The desire to maintain ownership of certain things attached to the property.

In most cases, an interested buyer will offer a price and wait for a response from the for sale by owner. The first offer is usually lower than the maximum price which the potential buyer is willing to pay. The for sale by owner selling their property privately can respond either by accepting the first offer or rejecting the offer and making a counter offer. If the first offer is accepted, then there is no need for further negotiation. If the offer is rejected, the for sale by owner will go back to the potential buyer with a counter offer or will see if they are prepared to make another offer and/or alter or withdraw conditions. Through a process of negotiation, the for sale by owner will eventually reach a mutually acceptable agreement to sell their property privately with a buyer.

Any for sale by owner conducting a private real estate sale should consider the following things in relation to offers and property negotiation:
• Negotiating Offers – The for sale by owner should ensure to do this as often as possible in writing. This documentation will be valuable if a dispute arises.
• Terms of Sales – The for sale by owner should not be afraid to trade terms of the Agreement for a greater sale price.
• Accepting Offers – The for sale by owner should accept an offer sooner rather than later. This will reduce the chance of a buyer changing their mind about the offer.
• Amendments to the Contract of Sale – Any amendments require the signature of both parties to be legally enforceable.

Often potential buyers will make low offers as they feel they can intimidate a for sale by owner conducting a private real estate sale. If you are a for sale by owner selling your property privately then all you need to do is decline the offer and stand firm on the money you are asking for. Remember, buyers do not know how many other potential buyers are interested in the property resulting in serious buyers having to make serious offers.

Many for sale by owners (FSBO) who conduct a private real estate sale with no agent always struggle to set the listing price of their property. Setting the listing price of a property if you are conducting a private real estate sale with no agent can be hard but if the for sale by owner does the following then it will be easy.

For sale by owners (FSBO) who are conducting a private real estate sale with no agent need to discern the market value of the property. Once the for sale by owner (FSBO) has obtained the market value of the property the listing price can be established by taking into consideration the personal requirements such as time frame and financial return needed by the for sale by owner. The for sale by owner (FSBO) conducting a private real estate sale with no agent then needs to compare their property with what similar properties which are listed for sale.

It is perceived throughout the real estate industry that only real estate agents can accurately estimate the market value of a property. For sale by owners (FSBO) are led to believe that sophisticated mathematical calculations and specialised inside knowledge is necessary to determine the market value of a property and that a for sale by owner conducting a private real estate sale with no agent can not do this. However, all real estate agents do to determine the market value of a property is a simple Comparable Market Analysis (CMA).

A CMA is the comparison of similar properties which have been sold or are listed on the market in a particular suburb. Real estate agents usually get this data (known as Property Reports) from online real estate data websites. A for sale by owner (FSBO) conducting a private real estate sale can perform a CMA, it is easy and can be complete in approximately 20 minutes by the for sale by owner performing some simple research over the internet about similar properties to the one they are conducting a private real estate sale with no agent.

To sell property privately through a DIY sell is something which is still achievable given the current market conditions across the real estate industry. Many people believing selling property privately is no longer achievable but if you are a determined property owner and have access to resources like Privatepoint then a DIY sell can still work and with a little bit of luck you will sell your property privately.

You have decided to sell your property privately with no agent so you do not need to pay a commission. A for sale by owner often has trouble with a no agent sale especially when they are conducting a property appraisal for their property.

A property appraisal is an important step when selling a property with no agent as a private seller. It outlines the positive and negative features of the private sellers property and provides them with the necessary information to prepare their property for a private sale, set the listing price and successfully perform open inspections, negotiating with interested buyers.

As a private seller performing a no agent property sale the following things need to be performed to complete a property appraisal:

• Internal Features - Internal positive and negative features about the property including number of bathrooms, bedrooms, type and style of fittings, floorings, age of property, windows, views.
• External Features - Positive and negative external features about the property including gardens, balcony, lawn, garages, parking, pool, tennis court, spa.
• Location Features - Positive and negative property location features including local amenities, schools, public transport, freeways, views, location to noise, shopping centre, beach.
• Zoning - Positive and negative council regulations, renovation approvals, new constructions.
• Outgoings - Such as strata fees, land tax, water, gas and electricity rates and insurances.

Once the private seller has completed the list they need to rank the positive features from best to least favorable. The private seller needs to do this for the negative features listed, ranking the worst features first and moving down to the least negative feature.

Performing a property appraisal as a private seller performing a no agent sale can be an easy process as long as they break the process down.

The current times aren’t that great for a for sale by owner or private real estate sale. However if you are a real estate buyer than this is the Christmas you have been waiting for. There are good buys in most places but if you really want value for money then buy real estate in a smart suburb. The smartest suburbs are those closest to transport, shops and recreational facilities.

This Summer, you won’t have to look too far to find a property for sale at a cheaper price than you would have this time last year or even a few months ago. So, provided you’re not planning to offload it this year or next, then you won’t lose.

However, some purchases will always be smarter than others. Perhaps the price is cheaper, it may achieve a higher rent or the long-term capital growth potential is far greater. If you are thinking about purchasing property have a look around for a private real estate sale or a for sale by owner as they will usually provide a good deal.

Confused about whether to use a real estate agent to sell your property or whether to perform a private real estate sale as a real estate for sale by owner? There are pros and cons from each method of real estate sale but what is important is whether as a real estate for sale by owner you have the time and motivation to perform a private real estate sale.

Here are the benefits of performing a private real estate sale as a real estate for sale by owner ( FSBO ):

Real Estate For Sale by Owner or FSBO receives enquiries directly - Interested property buyers will contact the real estate for sale by owner or FSBO directly cutting out the real estate agent meaning the process of the sale will be more efficient and information will be relayed faster.

Real Estate For Sale by Owner or FSBO knows their property better than anyone - A real estate for sale by owner or FSBO knows their property better than anyone else so instead of a real estate agent showing their property it makes perfect sense that the real estate for sale by owner or FSBO is the best person to market the property.

Real Estate For Sale by Owner or FSBO receives all offers - The real estate for sale by owner or FSBO knows exactly what offers have been submitted and who is interested in their property. The real estate for sale by owner or FSBO will not have the real estate agent talking up interested parties or parties who are about to make an offer. The real estate for sale by owner or FSBO can see this for themselves as they are a part of every piece of the sale.

Real Estate For Sale by Owner or FSBO only deals with serious buyers - Real estate agents have been known to show a property owner’s property to buyers they have for a different property. They do this so they can use the property they are showing as leverage for the property they want to sell to the buyer. Real estate for sale by owner or FSBO will know that if a interested property buyer inspects their property it is because the property buyer has a general interest in purchasing the property.

Real Estate For Sale by Owner or FSBO is in full control - The real estate for sale by owner or FSBO can decide what tasks involved with the sale and at what time things are done. The real estate for sale by owner or FSBO is not at the mercy of a real estate agent and does not have the added pressure which real estate agents usually apply.

Here are the negatives of performing a private real estate sale as a real estate for sale by owner ( FSBO ):

Real Estate For Sale by Owner or FSBO limited resources - A real estate for sale by owner or FSBO has limited resources compared to the resources a real estate agent has available. These include real estate market reports, extensive database of buyers, other real estate agents and franchise offices and marketing resources.

Real Estate For Sale by Owner or FSBO limited experience - A real estate for sale by owner or FSBO has only limited real estate sales experience where as a real estate agent can have up to 40 years experience. This real estate sales experience can be vital when it comes to negotiating with interested property buyers.

Real Estate For Sale by Owner or FSBO no access to online real estate advertising websites - A real estate for sale by owner or FSBO can’t list their property on certain real estate advertising websites including Realestate.com.au, Homehound.com.au and Myhome.com.au. These websites have frequent buyers who search them for real estate for sale and offer a large amount of internet exposure for a property owner.

Outlined below are the property auction results for this weekend according to Australian Property Monitors:

Total auctions: 526 (last week: 637)
Sold: 287 (last week: 320)
Withdrawn: 49 (last week: 63)
Clearance rate: 50% (last week: 46%)
Total Sales: $153,903,570 (last week: $ 156,894,140)
Median: $ 492,000 (last week: $ 493,750)

Privatepoint is a for sale by owner private (FSBO) real estate sale website allowing a property owner to sell privately and market their property to a large audience of potential property buyers. As a for sale by owner (FSBO) seller you can enter your property details into the Privatepoint website and have your property listing appear on a number of popular private real estate sale websites.

The price of real estate in Australia is now beyond the reach of many young people looking to purchase their first house. This isn’t great for real estate for sale by owner or private house sales as first house owners make up a large portion of the buyers for real estate in Australia. However, there is hope as we are now seeing a trend emerge in real estate where young people are pooling their money together with friends and purchasing a property together to live in.

Young people are entering into what is know as a “tenants in common” contract, where they can divvy the mortgage and benefits of a property. They each have a certain share and when the property is sold each get their share of the sale price of the property.

Obviously this arrangement isn’t for everyone as not only are you making an investment with your friends but you are also living under the same roof as them on an ongoing basis. If things don’t work out then it isn’t a huge issue, as these contracts are designed so parties can leave the agreement without too much headache to all parties.

It is great to see that there are ways for young people to get a “foot in the door” in the real estate game in Australia.

Outlined below are the property auction results for this weekend according to Australian Property Monitors:

Total auctions: 637 (last week: 524)
Sold: 320 (last week: 262)
Withdrawn: 63 (last week: 40)
Clearance rate: 46% (last week: 46%)
Total Sales: $ 156,894,140 (last week: $ 135,231,970)
Median: $ 493,750 (last week: $ 505,000)

Privatepoint is a for sale by owner private real estate sale website allowing a property owner to sell privately and market their property to a large audience of potential property buyers. As a property owner you can enter your property details into the Privatepoint website and have your property listing appear on a number of popular private real estate sale websites.

If you are for sale by owner selling an apartment for private sale in a CBD location then don’t be surprised if you never get to meet the purchaser of your property. What is known as buying without viewing, is a trend which is starting to pick up speed in the way real estate is purchased across Australia. It refers to the situation where the property buyer of an investment property (usually units and apartments in the CBD) will search real estate across the internet and if a property ticks all the investment boxes they will purchase the property unseen and without ever meeting the real estate for sale by owner.

It is not a bad strategy as it saves a lot of time and means the property buyer’s judgement of the property can’t be clouded by any emotions they have when they inspect the property. It is simple in that the property buyer makes a decision to purchase the property from an investment/business point of view rather than looking at it from the prospective of a property owner / dweller.

Things a property buyer will use to assess whether a property is a good real estate investment include:
 - Number of bedrooms
 - Number of bathrooms
 - Secure Parking
 - Secure Storage
 - Floor the apartment is located on
 - Size of the apartment
 - Location of the apartment in regard to transport, shops, schools and CBD.
 - Views from the apartment
 - Strata and sinking fund fees

This is a good reason why real estate agents and a real estate for sale by owner need to make sure they create accurate property descriptions when preparing their property advertisement for the internet.