Sell My Castle Do you need them ?
If the time has come to sell your home, using the services of Sell My Castle might cross your mind. What does Sell My Castle do? From their website:
“100% FREE, NO OBLIGATION service that allows you to request and review online proposals from multiple local real estate agents, helping you choose the right agent to sell or rent your property”
Wow. Sell My Castle sounds great! Hmmm. Maybe we should take a quick look under the hood.
Ok. Sell My Castle claim to be “100% FREE”. Really? They do all this for nothing? How do they make any money? Well, if you are the seller, Sell My Castle does not charge you directly for listing your property. AWESOME! …… But (and I hate “buts”) for the real estate agents Sell My Castle charges “a small success fee” on successful sale. “A small success fee“. That doesn’t sound too bad at all, but to be sure, lets do the sums and see just what this small fee equates too.
I live and work in Canning Vale, so I’ll use this suburb for comparison.
Lets take the average entry level home in Canning Vale selling at $600,000.
From their web, Sell My Castle charge the agent a 0.375% fee on successful sale.
(see Sell My Castle Agent Terms and Conditions here )
0.375% of $600,000 = $2250
$2250.00 ! + GST! on a $600,000 sale!
Sell My Castle consider this to be a “small success fee“. Wow. If this is what Sell My Castle consider a small success fee I’d be pretty glad not to be charged a large success fee.
What do Sell My Castle provide for this fee? Again from the web:
“… allows you to request and review online proposals from multiple local real estate agents“
Couldn’t this be achieved by any seller with access to Google and a few phone calls or emails to the local agents? The vast majority of sales agents do not charge for “online propsals”.
Is Sell My Castle worth its fee? Hmmm. I’ll let you decide that one for yourselves.
Sell My Castle do you need them?
With relation to my Real Estate services, here are the facts.
If you were to choose me to sell your $600k entry level Canning Vale home via Sell My Castle I would have to pass on to you the $2250 “ small success fee” that Sell My Castle charge me. If you had contacted me directly this fee would simply disappear.
Oh, by the way, as an agent you need to register to be on the Sell My Castle agents list. I choose not to be.
In Summary: Sell My Castle is part of a plethora of companies out there (Open Agent, Local Agent Finder etc) that offer to put you in touch with the “BEST AGENT” via one means or another, touting no cost for the seller.
In reality, Sell My Castle would appear to be, for all intents and purposes, the very embodiment of the classic middle man. In Real Estate, as with any transaction, what do we condsider the Golden Rule when trying to reduce transaction overheads? Simple: Just cut out the middle man!