Whether you own a retail, industrial or office building, we can negotiate a sale for you. Our aim is to provide a level of service and result that exceeds your expectations.
The sale process begins with us advising you on the most appropriate method of sale of your property, the suggested listing price (if any) and devising an effective marketing campaign.
Method of Sale
A property can be placed on the market with or without price, but typically a price is determined at listing. A sale takes place when the two parties come to a negotiated agreement. Private treaty sales include:
(i) The Exclusive Agency Listing
The client lists with only one agent for a set time period. This means that one agent is dedicated to the sale of your property, resulting in a higher level of service and generally a higher sale price. If the property is sold by another agent who is not in conjunction, or by the owner, the listing agent is entitled to receive commission.
(ii) The Sole Agency
This is when a client lists with only one Agent for a set time period. If a property is listed as a sole agency and sold by another agent who was not in conjunction, then the owner may be liable to pay both the listing agent and the selling agent commission. If the owner sells the property, however, the listing agent is not entitled to commission.
(iii) The Open Listing
This is when the owner/s have signed an Appointment of Agent with a number of agents. This means that the owner has to deal with several different agents and make keys available to all agents. It can result in multiple signs on the property as well as multiple internet listings, which can look unprofessional and somewhat desperate. In the event of a sale, commission is paid only to the agent who introduced the successful purchaser. There is no time limit and either the client or the agent can end the appointment at any time. An open listing can be overridden at any time by an exclusive listing.
This is an exclusive listing where the property is put on the market without a selling price. Sale price is determined by public bidding at a set time and place, conducted by a professional auctioneer. This creates a competitive bidding setting and is an efficient, effective, and fair method of selling. It is often held after an intensive 30 day marketing campaign.
This is the lowest price a seller will accept at auction. This can be altered before or during the actual auction sale if a seller so instructs.
Terms and conditions of sale
Most auctions are offered as a cash sale with no special conditions meaning that it will be an unconditional contract.
This is an exclusive listing without an asking price. The bidding process is private and the terms and conditions of the intended sale are usually not known until close of tender date.
Suggested Listing Price
For a sale by private treaty is it common practice to determine a listing price. Our agents will assist you to do this, employing the most appropriate method or combination of three principal methods of doing so:
(i) Sale price based on current net return of the property (if tenanted) and the security of this return.
(ii) Sale price based on replacement cost (ie value of land plus cost of building the improvements).
(iii) Sale price based on the recent sale price of comparable properties.
Each property is different and we understand that the needs of sellers vary. Your appointed agent will devise and recommend a marketing campaign designed to result in creating a level of interest in your property that will help maximise the sale price as well as meet your desired time frame for the sale. Commonly-used marketing activities include internet advertising, signage, print media advertising and email marketing to our extensive database.
Your approval will be sought for all marketing activities prior to being implemented, and your agent will provide feedback on the results of these activities.
During the marketing period your agent will keep you informed of the level of interest in your property and advise you if any adjustments to the marketing strategy are appropriate.
The Negotiation Process
The negotiation process can be a stressful time for sellers, but you can rest assured that our agents are skilled negotiators who will act in your interest to achieve the best possible sale price for your property. We will also endeavour to ensure that any contract conditions are suited to your requirements.
From Contract to Settlement
Once your property is under contract your agent will not only work to help ensure that contract conditions are met in a timely fashion, but will continue to show your property to prospective buyers until the contract on the property is unconditional.