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Australians Sell Homes on EBay

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A recent report by News.com.au gives an insight into the mind set of Australian home sellers trying to sell their properties. It highlights the fact that 130 properties were listed on eBay's Australian site last week, including several multi-million dollar homes in Sydney and New South Wales

Australian home owners opting to sell property themselves would save thousands in commission. It seems that selling property by using EBay may be more about getting more exposure than saving money .

Offered for sale on the auction website was a water view apartment in inner-city Pyrmont, is priced at almost $1.5 million. The apartment's owner, David Shaw, said selling privately would save him $10,000 in marketing costs and about $45,000 in agent's commission.

The luxury apartment has been listed for eight weeks and Mr Shaw said four potential buyers had been watching the listing.

"I've sold three other properties but not online," he said. "I don't expect to sell it overnight."

Mr Shaw said he would avoid real estate agents and have his solicitor finalise any sale, saving thousands of dollars in agency fees.

Among NSW properties listed for sale on the online auction website were a $325,000 house at Rooty Hill, a $300,000 pub at Lockhart and a $350,000 holiday home at Nelson Bay.

Australian Property Monitors spokesperson Michael McNamara said online private property sales allowed astute vendors to save tens of thousands in agency fees.

But he warned online and private sales could be fraught with danger.

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