Agent Agreements

Open Listing

An open listing is when you appoint an agent, how ever you can appoint other agents simultaneously to sell the property. There is no end date required for an Open listing and you can terminate any time. The agent who sells the property is entitled to the agreed commission.

Exclusive Agent

You appoint the agent your happy with paying them the commission once property is sold whether they sell it or anyone else does within the date of agreed appointment.

Sole Agent

You may sell the property privately and you can also appoint an agent to sell ,if the agent did not sell the property or was not the effective reason for the sale, you then would not pay any commission to the agent.

60 Days is the minimum time for appointment; however, you may give written notice if you are not happy at 30 days. The maximum appointment time is 90 Days.

Marketing Methods

To achieve the best possible price, the method of sale is the most important factors.

Auction

The agent and yourself set a Date, Location and Time with the Auctioneer. Auctions create urgency and prospective buyers bid publicly, if the property reaches the reserve price set and the vendor is happy with price, the property is sold to the highest bidder. Contracts signed and deposits paid.

Tender Sale/Expression of Interest

These are similar and are a private Auction, best offers are submitted by a certain date and time. The agent and seller then revise the tender offers, and then are either rejected, accepted, or negotiated. This method also creates urgency.

Private Treaty examples
  • Private Treaty – This is when you advertise in a multitude of ways.
  • Advertising with a price range, example $760,000- $800,000
  • Advertising with a fixed price, example $800,000
  • Advertising without a price example, Price by negotiation, Contact Agent, Offers Invited.
Your agent will take these into consideration before recommending a Marketing Method
  • Urgency of the Sale
  • Location of the Property
  • Type of property you are Selling
  • Your personal preferences

Where the market is at the time of selling, is it a buyers or sellers’ market, are there many properties for sale to compete against.