Stephen Knight

Then they said, okay, well, we'll set an asking price.

We'll make the asking price $1.6 million.

Ah, nobody bought.

They ended up selling it seven months later for $1.5 million.

Now, that might have happened if they did have a real estate agent, right?

Like the same thing could have happened.

But it's interesting to be like, oh, wow, seven months with no sales, actually quite a long time.

So there are some people who this will work for.

There are some people who this won't work for, right?

But from your experience, Andrew, 20 odd years in the property industry,

When do private sales tend to work?

But if we think about when private sales maybe don't work quite as well, if you're in a slower market or if you've got like a standard suburban property where agents might have a big database for your sort of property.

And I think the other one is if this is your first ever time selling a home, as in you've bought a property, you've never sold it though through a real estate agent before and

If this is your first ever sale, I think it's probably a good idea to use a real estate agent.

And the other thing you've just got to keep in mind is there's a lot of legal stuff and responsibility when you're selling a house yourself, and you really can't skip this.

And I'm really talking about your disclosure obligations.

Like you have to tell buyers no in issues, leaks and weather tightness or any meth history, unconsented work.

If you hide any of that,

you could be sued even years after the sale.

Whereas if you use a real estate agent, they're going to know what to look for and what to ask and then therefore know what to tell the buyers to make sure that you don't have people come after you years later.