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Sell property without going through estate agent
Posted: Tue Mar 21, 2023 6:47 am
by jane doe
Does anyone have experience of this?
If you have a contract with an agent, in my case "sennin baikai keiyaku", 専任媒介契約, I think, then the agent says if I find a buyer myself, ie not through the net, in that case I understand I don't have to pay the brokerage/commission to the agent. However in that case, how to go about preparing the contract and other documents? Obviously an estate agent might do it, but then they would want the standard 3% presumably, which would defeat the whole point.
What professional does this, and any idea how much they might charge? Would it be on a percentage basis? Would it work out cheaper than getting an estate agent to cover promoting the sale as well as the actual transaction process?
My understanding is you would need someone to do two main things, but there may be others:
1) Prepare documents for exchange of contracts (or Japanese equivalent)
2) Chair the meeting, as seller's representative, and read out the whole thing, as they legally have to do in Japan.
3) Do the whole hankoing ritual at the end of 1) and 2)
You need a judicial scrivener on handover day, and to deal with registration of the change of ownership as well? (not sure if the seller also needs this, I know the buyer does) and presumably this is the same, and costs the same as when you go through the agent. I've bought but not sold, so I'm not entirely sure.
Any experience, tips, or pointers to somewhere with the info, or someone who knows, or professionals, would be great.
Re: Sell property without going through estate agent
Posted: Tue Mar 21, 2023 12:30 pm
by TokyoBoglehead
jane doe wrote: ↑Tue Mar 21, 2023 6:47 am
Does anyone have experience of this?
If you have a contract with an agent, in my case "sennin baikai keiyaku", 専任媒介契約, I think, then the agent says if I find a buyer myself, ie not through the net, in that case I understand I don't have to pay the brokerage/commission to the agent. However in that case, how to go about preparing the contract and other documents? Obviously an estate agent might do it, but then they would want the standard 3% presumably, which would defeat the whole point.
What professional does this, and any idea how much they might charge? Would it be on a percentage basis? Would it work out cheaper than getting an estate agent to cover promoting the sale as well as the actual transaction process?
My understanding is you would need someone to do two main things, but there may be others:
1) Prepare documents for exchange of contracts (or Japanese equivalent)
2) Chair the meeting, as seller's representative, and read out the whole thing, as they legally have to do in Japan.
3) Do the whole hankoing ritual at the end of 1) and 2)
You need a judicial scrivener on handover day, and to deal with registration of the change of ownership as well? (not sure if the seller also needs this, I know the buyer does) and presumably this is the same, and costs the same as when you go through the agent. I've bought but not sold, so I'm not entirely sure.
Any experience, tips, or pointers to somewhere with the info, or someone who knows, or professionals, would be great.
You can also sell your house without going through a real estate company. / 不動産会社を通さずに家を売却する,することもできます
http://bit.ly/40ppvNI
You might want to write a short How: To Guide after the fact!
Re: Sell property without going through estate agent
Posted: Tue Mar 21, 2023 1:54 pm
by jane doe
Thanks for the link. As far as I can see, it's impossible to copy and paste that Howto into an online translator so I can actually read it. My Japanese is not good enough to do something technical in Japanese only. If someone tells me how to copy it into a translator, and I actually go that route, I will share a Howto on this forum. Promise!
Re: Sell property without going through estate agent
Posted: Tue Mar 21, 2023 2:38 pm
by TokyoBoglehead
jane doe wrote: ↑Tue Mar 21, 2023 1:54 pm
Thanks for the link. As far as I can see, it's impossible to copy and paste that Howto into an online translator so I can actually read it. My Japanese is not good enough to do something technical in Japanese only. If someone tells me how to copy it into a translator, and I actually go that route, I will share a Howto on this forum. Promise!
Chrome browser + Google Translate Plugin works fine.
Chrome Browser:
https://www.google.com/chrome/?brand=FN ... lsrc=aw.ds
Google Translate Chrome Extension:
https://chrome.google.com/webstore/deta ... cleb?hl=en
Re: Sell property without going through estate agent
Posted: Tue Mar 21, 2023 9:33 pm
by captainspoke
Or, go to the page in japanese, copy all (or chunks), paste that into google translate.
Re: Sell property without going through estate agent
Posted: Wed Mar 22, 2023 6:45 am
by jane doe
captainspoke wrote: ↑Tue Mar 21, 2023 9:33 pm
Or, go to the page in japanese, copy all (or chunks), paste that into google translate.
That's what I meant. Selecting and copying doesn't seem to work on this page.
Re: Sell property without going through estate agent
Posted: Wed Mar 22, 2023 6:50 am
by imaginatorium
This (stupid) software only seems to let me attach files it thinks are images. Attached doc.png is the source of the page, with the (helpfully labelled) "copyright protection" script removed. You need to download doc.png, rename it as doc.html, then open it in a browser.
Sorry: "The upload was rejected because the uploaded file was identified as a possible attack vector." If you give me an email address by private message, I will send you a copy.
Re: Sell property without going through estate agent
Posted: Wed Mar 22, 2023 10:28 am
by TokyoBoglehead
This link should also automatically translate the website.
(You may need to select English at the top). Tested on Windows 10, Chrome and Edge.
https://www-ie--urutaro-com.translate.g ... 3%E3%80%82
Re: Sell property without going through estate agent
Posted: Thu Mar 23, 2023 1:02 am
by Nancy
Jane, After reading your post, I understand that you want to save money, but since I am a very risk avoidant person, I was just thing that the chance of you running into problems trying to manage everything yourself is quite high. (scammers, non-paying clients, risk of having to go to court to reclaim the house etc., having to show the property yourself and being targeted on social media). I was reading an article yesterday about a 32 year old who interviewed 90 year olds on what advise they would give themselves in retrospect, and one quote was; No amount of money is worth trading for your peace of mind. I really think that this may apply in your case.
Re: Sell property without going through estate agent
Posted: Thu Mar 23, 2023 1:06 am
by TokyoBoglehead
Nancy wrote: ↑Thu Mar 23, 2023 1:02 am
I was reading an article yesterday about a 32 year old who interviewed 90 year olds on what advise they would give themselves in retrospect, and one quote was; No amount of money is worth trading for your peace of mind. I really think that this may apply in your case.
Would you kindly share a link to that article?