Selling a home
Selling your home. A guide to maximising the price
View our tips to maximizing your property's price through exposure and
"street appeal" to prospective buyers.
It is important that you know the differences between a professional who
represents a seller (the "traditional" role of a sales associate), a
professional who represents a buyer, which is rare in Australia and one who
represents both. In most areas, real estate professionals are now legally
obliged to disclose, in writing, information on the various types of real estate
agency relationships that exist. You should assume the real estate professional
is working for you, the seller vendor] unless otherwise stated.
Seller's Agent - A real estate professional becomes a Seller's Agent by entering
into a listing agreement to represent the seller's interests.
The Seller's Agent can provide information to assist the buyer, but they must
place the interests of the seller first.
A buyer should not disclose anything to the Seller's Agent they do not want the
seller to know.
Buyer's Agent - A real estate professional becomes the Buyer's Agent by entering
into an agreement to represent the buyer. A Buyer's Agent can assist the seller,
but does not represent the seller.
The Buyer's Agent must place the interests of the buyer first [his or her
principal].
A seller should not tell the Buyer's Agent anything they would not want the
buyer to know, because the Buyer's Agent must disclose any pertinent information
to the buyer.
You may want to interview several sales professionals before selecting one to
represent you. If you are selling your home, the real estate sales professionals
you interview should cover the following items during the interview:
- Pricing your home
- Increasing your home's value
- Marketing strengths
- Negotiating the sale -The seller's agent should review every offer with you and
help you evaluate all aspects of each offer and its financial implications.
- An overview of the local standard Contract For Sale along with typical addenda
and a copy for your review
If you are buying a home, the real estate professionals you interview should
cover the following:
- Agency relationships
- Many real estate professionals who primarily represent buyers have been
specially trained to do so and have received the Accredited Buyer Representative
(ABR) designation
- How much home you can afford
- The difference between being "pre-qualified" for a mortgage and being
"pre-approved" for a mortgage
- Key features you "must have" in your new home vs. those you would like to have
- How to evaluate and compare the homes you see
- An overview of the local standard Contract For Sale along with typical addenda
and give you a copy for review
- The types of inspections you will want to have done on the property you select
