Sale Histories
On this page we list properties that have sold with estate agents
after having initially been offered for sale through our office.
It will be seen that in each case estate agents
have struggled to reach the valuation figure. At the same time, the estate agent
has charged a fee that is well in excess of that charged by Lawyers Real Estate.
(See our page "Questions To Ask Agents")
After selling with another estate agent, the client usually returns to us to have the conveyancing completed. It is at this stage that we
hear a familiar complaint:
"I should have stayed with you. All the other estate agent did was make me drop my price, and for that he charged me a
full commission plus advertising!"
If we ask why the client resorted to using an estate agent the
responses are also similar:
"They made all these promises, saying they'd sell it really quickly, and get the best price, and it all sounded so good that I thought I'd give them a go."
One of the saddest is a letter written to us by a client who had rejected an offer made while he was selling with us and, in his words:
"I was constantly badgered by local estate agents extolling their virtues, and telling me how they could get me a better price and more people through the property etc. I unfortunately succumbed to this constant assault and left Lawyers to sell with another local agent. They did get a sale, but for far less than we had already been offered for the property, and then we were faced with a large bill for services for doing nothing but putting up a new sign..." (To read the full letter CLICK HERE)
The properties below were initially listed with us, but were subsequently sold through
estate agents.
We invite you to check the circumstances of each sale, and to compare the prices and costs.
Vacant land
Gain or loss on valuation figure: Loss (-$32,660)(est)
Period with Lawyers Real Estate: 4 months
Period with agent #1: N/K
Period with agent #2: N/K
Total time on market: 12 months
Valuation: $225,000
Sale price: $200,000
LESS Commission: $6,000
(estimate based on 3%)
LESS Advertising: $1,000
(estimate @ $1,000)
LESS Conveyancing: $660
(estimate @ $660)
House
Gain or loss on valuation figure: Loss (-$22,660)(est)
Period with Lawyers Real Estate: 4 months
Period with agent: 1 month
Total time on market: 5 months
Valuation: $380,000
Sale price: $370,000
LESS Commission: $11,100
(estimate based on 3%)
LESS Advertising: $1,000
(estimate @ $1,000)
LESS Conveyancing: $660
(estimate @ $660)
House
Gain or loss on valuation figure: Loss (-$10,810)(est)
Period with Lawyers Real Estate: 2 months
Period with agent: 1 month
Total time on market: 3 months
Valuation: $305,000
Sale price: $305,000
LESS Commission: $9,150
(estimate based on 3%)
LESS Advertising: $1,000
(estimate @ $1,000)
LESS Conveyancing: $660
(estimate @ $660)
House
Gain or loss on valuation figure: Loss (-$46,110)(est)
Period with Lawyers Real Estate: 9 months
Period with agent: 2 months
Total time on market: 11 months
Valuation: $350,000
Sale price: $315,000
LESS Commission: $9,450
(estimate based on 3%)
LESS Advertising: $1,000
(estimate @ $1,000)
LESS Conveyancing: $660
(estimate @ $660)
House
Potential loss on valuation figure: Loss (-$45,000)(est)
This one requires some explanation. The client approached a long-established and "well-respected" estate agency, and was told that his property should be offered for sale with a "buyer enquiry range" of $340,000 to $370,000.
The client then spoke with us, and obtained an independent valuation which stated that his property was worth $405,000. The property was on the market for 7 weeks, and sold for $405,000.
The client calculated his savings (after deducting our fixed fee) at approximately $45,000. See this client's letter (signed "WS & LS, Lilydale") on our
client testimonials page.
Total time on market: 7 weeks
Agent's "appraisal": $340,000-$370,000
Sworn Valuation: $405,000
Sale price: $405,000
LESS estimated agent's commission: $12,150
(estimate based on 3%)
LESS estimated advertising: $1,000
(estimate @ $1,000)
LESS estimated conveyancing: $660
(estimate @ $660)
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Conveyancing Section for real estate consumer information, and to our
Disclaimer regarding the limited use of information provided on this website.
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