FAQs about selling a property

Before Marketing

Q.  HOW LONG WILL IT TAKE?

A.  Our ideal aim to have a property sold is within 30 days – assuming the price has been set based on the current market evidence and climate.

Q.  WHAT ‘S THE PROCESS  INVOLVED?

A.  The property is marketed for sale at a fixed price or an indicative range.  When an offer to purchases is  written up with a buyer, we present  this offer to you for discussion and negotiation. If the offer is accepted, we instruct your Conveyancer to prepare the Transfer of Land document and to adjust rates and taxes.  Settlement takes place in due course and possession takes place once settlement has been effected.

Q.  DO YOU HAVE RECENT TESTIMONIALS OF PEOPLE WHO HAVE DONE BUSINESS WITH YOU?

A. There are some in this document and even more at our offices.  Just ask to see them.

Selling Authorities

Q.  WHAT ARE THE TYPES OFSELLING AUTHORITIES?

A.  There are two types of authorities to  sell , they are:

1.  Exclusive Plus Authority
This Authority allows Bourkes to market and promote your property exclusively.  We will conjunct (or co-operate) with other reputable agents to sell your home.  If they have a buyer, we simply share the commission.  We circulate information to other REIWA agents to advise them we will co-operate with them in selling your property.

So an Exclusive Authority is a ‘misnomer’ as we won’t be the only agent selling your property.  Other agents will ring us and ask if they can show their buyers through your home.

We will co-ordinate viewings with you and/or your tenant (if it’s rented).  We will accompany the agent through the viewing.  The Authority can be for any period you nominate but generally it is for  90 or 120 days.

2.  Auction Authority
In a market of high demand and low supply, the Auction method is an excellent way to maximize price and so this within a 30 day period.  Deceased estates, land releases and mortgagee sales use this method as there can be no dispute that the  highest price was obtained on the day.

The process is that we appraise your  property and suggest a reserve price,  ie a price below which you shouldn’t  sell.  On the day, the highest bidder  (at or in excess of the reserve price)  will pay to the Auctioneer  5 – 10%  deposit and the balance of the funds within 30 days.  The promotion costs  would be $3,000 to $4,000 – this however, can be made up by one  extra bid alone.

Marketing Process

Q.  SHOULD I LEAVE WHEN YOU  SHOW SOMEONE THROUGH MY HOME AND AT HOME  OPENS?

A.  Yes please.  Buyers prefer to discuss your property without being overheard.  With you present, it inhibits  discussion and makes the sales process  harder.

Q.  DO I NEED TO PUT VALUABLES  AWAY BEFORE A HOME OPEN?

A.  Yes , purely for safety sake.  We have never had item go missing in years of  property sales but it is still
advisable.

Q.  WHAT IF I DON’T LIKE WHAT MY SALES REP IS DOING?

A.  He | she will always take recommendations and suggestions  from you.  If you wish to discuss any issue directly with the Principal, please  feel free to do so.  Alan’s mobile number is 0419 474 240.

Q. CAN I WITHDRAW FROM THE AGREEMENT PRIOR TO IT EXPIRING?

A.   You can change your mind and not sell your home, though two things are relevant.

1) You are then liable for advertising expended during the listing period and

2)  you can’t give it to another agent during this time.

Offer Stage

Q.  WHAT HAPPENS WHEN WE GET AN OFFER?

A.  Your listing representative will discuss the maximum amount the buyer can pay, we try and achieve this be  negotiation.

Q.  DO I HAVE TO SELL IF YOU PRESENT ME WITH AN OFFER?

A.  No. We will charge no commission unless you are happy with the offer and property settlement goes through.

Q.  HOW DO I DEAL WITH OFFERS INVOLVING SELLING ANOTHER PROPERTY?

A.  We suggest we continue to market your property and we insert a “2 Business Day Clause” on the Offer.  This allows the buyer the first right of refusal.  If a second Offer comes in that doesn’t involve a subject  sale, the original buyers then have 2 working days to go unconditional and settle within 30 days.

Q.  HOW LONG DO I HAVE TO ACCEPT | COUNTER AN OFFER?

A.  There is no legal limit but we recommend 24 hours.

Request a Rental Appraisal

Setting a successful rental price for your property is a balance we can help you with.

Request a Sales Appraisal

Setting a successful sale price for your property is a balance we can help you with.

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