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Old 3rd April 2010, 18:56   #1 (permalink)
Els
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Thumbs up Selling your property yourself

Some advice if you are trying to sell, based on our personal experience.

If you use an estate agent to sell your Turkish property, please bear in mind they will sometimes add on 10, 13 or even 15 percent (see Val2661's thread on outrageous emlak fees today) on to the price you would like to receive, thus making your property very expensive compared with new and off plan properties. I know this is not lawful, but it is definitely common practice by a lot of emlaks selling to foreign customers (also my own experience as I worked for one for a few weeks).

Instead of using an emlak, you could try advertising on sahibinden.com (translation: from the owner). This is a website that is used by millions of Turks to find property and you can now select English on the website and place your ad in English. I have recently sold an apartment like this. Completely free advertising and of course if you sell to a Turkish person no hassle with waiting around for the tapu to be transferred. I had my money in the bank the same day he decided to buy! You may well get some enquiries by phone and email in Turkish so unless your Turkish is really good, be prepared to have someone help you with this (put a Turkish friend's phone number in the ad for instance).

Advantages:
- completely free of charge
- very user friendly website (even I managed to upload photos quite easily)
- reaches lots and lots of prospective Turkish buyers
- your property will be much more competitively priced than through an emlak
- if you sell to a Turkish person you will be able to complete the whole sale in one day!
- Turkish people are much more interested in existing property than foreign buyers who prefer new builds

I know I have posted this information hidden away in a couple of other threads, but as it worked so successfully for me, I hope this is a better way to share it with all of you trying to sell.

Hope this will work for lots of other people as well - nothing ventured, nothing gained!!!! Hope you will want to give it a try.
Els
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Old 3rd April 2010, 21:04   #2 (permalink)
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Re: Selling your property yourself

Hi Els

There is a thread on this subject at present 'Exhorbitant emlak fees !!!!!!!' with many people expressing the same concerns...

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Old 3rd April 2010, 21:07   #3 (permalink)
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Re: Selling your property yourself

Sorry Els

Just reread your post and realised you have already seen the thread I was refering to.

My mistake

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Old 3rd April 2010, 22:29   #4 (permalink)
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Re: Selling your property yourself

Just a few comments:

Firstly: Sahibindin.com is completely saturated with property from Estate Agents just like every other online portal that offers free advertising

Secondly: For example, a lot of Turkish people think 30k is well over the odds for a 2 bed apartment so unless you are selling dirt cheap your property is not going to fly out of the door

Thirdly: Not all emlaks add outrageous fees on top of the sale price

The problem with resales is the lack of exposure given to them by some Agents. They dont get a fair airing because a lot of emlaks want to sell the properties they can earn more commission from. Take Altinkum for example (groan!) with over a thousand Estate Agents and every man and his dog selling property a business will find it impossible to survive on a 3% commission when the customers are spread so thinly.

However, there are agents that will promote a resale the same as a new build and they take the job seriously, not play at it. These agents have stayed in business by actually having a business longer than 5 minutes, by keeping updated with current legislation as and when it changes at the drop of a hat on a frequent basis, by building a good reputation, by not overcharging and by intending to still be in the job until they retire, not bugger off when they have made a few quid. These rare beasts enjoy matching the right house to the right customer. Its called job satisfaction :-)
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Old 4th April 2010, 06:47   #5 (permalink)
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Re: Selling your property yourself

Better to have half a loaf than no loaf at all.
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Old 4th April 2010, 08:45   #6 (permalink)
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Re: Selling your property yourself

Hi Ms Who, thanks for your comments, and I agree with you on quite a few points, but

Advertising on sahibinden.com is an additional way to bring your property under the attention of Turkish buyers, which is a vast group you would probably not reach at all if you just try to sell through your local emlak.

In our region these ridiculous percentages seem to have become the norm, so even if you are selling dirt cheap, selling through these emlaks will price your property out of the market.

Not all Turkish people want to buy dirt cheap. If you have any Turkish neighbours in your complex this probably means it is attractive for Turkish people to buy there. There are literally millions of Turkish ex pats who use the site as well. Do you realise how many Turkish people moved to Western Europe in the sixties and seventies? I have sold to a Turkish family living and working in Austria, who wanted a holiday home in their home country.

I think sahibinden.com is a good additional way to try and sell property. It won't work for everyone, and of course you can also use one of those rare beasts you mention, a good reliable agent!

It worked brilliantly for me, so hope I can help some other people with this information.
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Old 4th April 2010, 09:05   #7 (permalink)
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Re: Selling your property yourself

Hi Els,

Im not saying people shouldnt advertise on there, im just pointing out a few things.

Regarding: "Advertising on sahibinden.com is an additional way to bring your property under the attention of Turkish buyers, which is a vast group you would probably not reach at all if you just try to sell through your local emlak"

Thats one of my points in the first reply. The site is saturated with emlaks listing the property on their books so that 'vast group' would indeed get to see a property listed through their local emlak.

I didnt say 'all' Turkish people, I said 'a lot' and yes I am aware that Turkish people emigrated.

You mention 'complex's' but please remember that complex's come with maintenance costs and a common problem with this is the Turkish people dont pay the site fees which causes a problem for the other property owners.

The other thing of course is listing a property on Sahibinden will also result in calls from emlaks who also browse the site looking for cheap property to take on.

In any event, Im happy for you that you sold your property this way and good luck to anyone else that does :-)
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Old 4th April 2010, 09:19   #8 (permalink)
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Re: Selling your property yourself

Hi Ms Who,
You made some valid points, thanks for that. By the way, I did not get a call from a single emlak. I suppose that means the price was too high for them, but main thing is the apartment was sold. I think we can agree that the two methods of selling can exist happily side by side.
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