Free pass: Home sellers listing their property for no cost

Listing your place for sale can be done for free. How, you ask me?

Residz Team 1/23/2022 5:22:42 AM 2 min read

Money is hard to earn, and even harder to save. It’s a relief to get something for free. So property owners about to hand over up to $2000 to market their property should hear this. Listing your place for sale can be done for free. How, you ask me? Read on…

Home of the free

Residz loves giving away free stuff. Our Investability Index which helps buyers assess potential areas for investment is free. Our bushfire risk assessment is free. In fact, all the hundreds of pieces of data on properties, including internet speeds, crime statistics and school results, are free.

Now, homeowners are looking to list their properties on Residz for free. There are lots of reasons they’re doing so.

“Always for sale” mindset

Firstly, they’re adopting a mindset of their home being “always for sale”.This is being really tapped into the market, and considering what their dream price might be, if and when they decide to sell.

Some test the market by putting a published DreamPrice(™) on their home without actually offering it for sale. DreamPrice(™) is to let buyers know what you might sell for when ready. Dream buyers match the price, or may offer higher! You then choose to sell now or wait.
Others formally list their homes for sale. Listing certainly lets people know you are ready to sell now.

Test the market

Secondly, homeowners like that there is no cost to list on Residz. Upside estimates show advertising can cost between $400 and $2000 (for top-tier listings that appear at the top of search results).

Listing for free is a no-fuss and low-cost way to test the market without committing to other advertising costs, finding an agent, and being bound to pay commissions on the sale.

Before you list

There are a few important things to note:

A residential property cannot be advertised for sale in NSW or ACT until a contract of sale has been prepared.
In Victoria, you must have a contract for sale before contracts are signed.
No matter where you live, experts recommend you have a contract of sale in place at least before open inspections.
Speak to your conveyancer or solicitor about all legal requirements for selling a property in your state. LawLab can give you estimates of conveyancing costs.

Competition is keen

Thirdly, more than 600,000 homes were sold across Australia in 2021, a 42% increase on the year before. People are competing more than they’ve ever done before to distinguish their property from the thousands of others on the market. Listing for free might not necessarily differentiate your property but it costs nothing, so why not test the market?

How to list your property for sale on Residz

If required by your state, have a conveyancer or solicitor prepare a contract for sale.
If preferred, engage a real estate agent.
Type your address into Residz.com
Follow the prompts as the Homeowner to “claim your property”
Choose whether to nominate a DreamPrice(™), or formally list your property for sale or auction.
When an agreement is reached with a buyer, you can manage the sale yourself (but only if you know the ropes inside and out), or you can call in an agent to “concierge” the process.

Image of lock by Basil James