Frequently Asked Questions and Answers For Sellers

1.- What methods are used to sell properties?

There are 3 methods of selling a property: auction, private treaty and expressions of interest(tender). With an auction, there is no price advertised and because there is a "time limited" campaign this may result in an expensive marketing programme leading up to a stressful auction day which may or may not attract buyers who are will to pay the price you have in mind and of which they are unaware. Tenders are very similar to auction but without the auction being held, with an auctioneer. They are very uncommon for residential sales and because of this may not attract buyers. Private treaty allows the price to be advertised and because of this, buyer response can be quickly determined. There is no stressful "auction day" and the property can be sold at a price satisfactory to both seller and buyer at any time.

2.- What is the difference between advertising and marketing?

Advertising is just one of the processes through which the message is conveyed that your property is for sale. Marketing is the general term used to cover all the methods which a professional agent would use in order to sell your property.

3.-How much do you charge for Marketing?

We have different packages available to suit sellers different needs and budgets.

4.-Do you have buyers who would be interested in my property?

Every agent should keep a record of all their potential buyers.

5.-How much is the sales commission?

The most that can be charged in Queensland has been legislated by the State Government at a rate of 5% of the first $18000 of the sale price plus 2.5% of the remainder of the sale price.

6.-Do I need a "for sale" sign?

It's recommended that you have a sign because many local people buy in the area in which they are already living. By driving or walking past and seeing the sign, they know that your property is for sale. It is a "silent salesman"

7.-Why should I sell my property through you - an independent agent - and not a franchise?

The individual agent gives you a personalised service. You are number one. Large franchise treat you as one of many.

8.-Do you sell property in my area?

Yes.

9.-How long will it take to sell my property?

Currently the average property is selling within 30 to 45 days.

10.-Have you got a buyer for my home?

All agents should have a data base of buyers

11.-How do you put a price on a property?

You, together with your agent, should compare the statistics of local, recent sales in your area and choose a price.

12.-Aren't all agents the same?

No, You need to interview each one, check out their agency website and ask for testimonials if none are featured.

13.-How am I kept informed about the sale of my property?

You should receive an immediate communication after each inspection and weekly written reports.

14.-Why do you need an agent?

Selling property is a mine field and a professional agent is trained to negotiate all the pitfalls.

15.-How long should I list my property with agent?

The maximum period is 60 days.

16.-Who pays the stamp duty?

The buyer pays for this.

17.-Who pays for the building and pest inspections?

Generally in Queensland the purchaser pays for these inspections. In some other states the seller is required to organize the building and pest reports and the local authority approvals.

18.-Should I organize my own building and pest inspection?

It's recommended that solicitor is used.

19.-Do I need a solicitor?

It is recommended that a solicitor is used

20.-Why should I have "open houses"?

"Open houses" give the seller the best opportunity for exposure to a number of potential buyers at one time while allowing you to schedule your activities satisfactorily.

21.-What is a "valuation"?

There are 2 types of valuation. The first one is performed by a "sworn valuer" who is able to give a valuation report with supporting data, which could be used for legal/court matters. The second is a "market valuation" or a "market appraisal". This is carried out by a real estate agent who arrives at a price by comparing data on prices of current settled sales of similar properties in your area.

22.-When would any inspections be carried out?

Inspections should be scheduled at a time to suit both the seller and the proposed buyer.

23.-How do i find out about the sale process?

The agent should walk you through the process and keep you informed of each step.