How do I choose an agent?
  When selecting an agent, the best source may be your family and friends. Many may have sold a property in the past and can refer you to an agent they found to be capable. Selling a home is a complex transaction, so experience should be a consideration. Also consider agents who work for larger companies, as they tend to offer more extensive training.
 
 
WHAT ARE THE COSTS INVOLVED?
  Fees vary depending on the type of property as well as what is negotiated in the sale. Your property consultant can provide an estimated closing statement to give you an estimate of what is to be paid as part of the sale. Costs include:
• Transfer fee’s
• Commission in case of resale
• 0 % Commission on primary market (new home)
 
 
What are the steps involved in selling my home?
  Selling your home involves many steps, from consultation to pricing. View ourSeller's Process for details.
 
 
How are buyers attracted to my property?
  You will work with your listing agent to develop a marketing plan and attract as many potential buyers as possible. Methods include:
• Yard Sign
• Newspaper Advertising
• Internet
• Magazines
• Social Media
 
 
WHAT FACTORS CAN INFLUENCE THE PRICE OF MY HOME?
  You want your home to sell for the highest price possible, but also in a timely fashion. Here are some factors that influence the price of your home:
• Current real estate market conditions
• The expertise and market knowledge of your real estate representative
• Hard facts such as lot size, square footage and condition of your home
• Desirability factors, including location, special amenities and property attributes
• Selling and listing price of comparable homes in the area
• A sophisticated real estate marketing plan
• Your level of motivation
• Conditions that do not affect the price of your home
• The profit you wish to make from the sale
• The amount of money spent on improvements
• The original price you paid for your home
 
 
How do I negotiate?
  Pricing your property with a 'cushion' for negotiation can be costly if it pushes the price above the fair market value range. To begin the negotiating process, you need interested Buyers. If overpriced, the number of Buyers that see the property is reduced, so the likelihood of an acceptable offer is also reduced. The best approach is to price a home just within the market value range. This allows room for negotiations, without sacrificing exposure.
 
 
What are the dangers if I overprice?
  When a property is overpriced, windows of opportunity are missed. Broker and buyer interest is at its highest when a property is initially placed on the market. But if the property is priced above realistic market value, the excitement and number of showings are greatly reduced. Later, it may be necessary to adjust the price below market value to compete with new, competitively priced listings.
 
 
What is the best approach to pricing my home?
  The best approach is to price a home just within the market value range. This allows room for negotiation, without sacrificing exposure. Make no mistake; we want you to get the best possible price for your property. However, when a home is priced too high for the market this may:
• Attract lookers, not legitimate buyers
• Imply you aren't motivated to sell
• Reduce the number of showings
• Help competitive listings look better
• Cause financing issues for the buyer if the property doesn't appraise at the higher price
• Ultimately force you to drop the price below market value in order to sell
 
 
What is my role in the selling process?
  No one has a more important role in the home selling process than you. Here are some ways your participation can contribute to a successful sale:
• Maintain the property
• Ensure the property is easily accessible for showings
• Communicate - let your agent know how to contact you
• Remove or lock up valuables
• Limit conversations with buyers/agents about price
 
 
WHAT FACTORS DETERMINE THE PURCHASE OF PRICE OF THE PROPERTY YOU ARE BUYING?
  While a number of factors come into play, in the end a property's worth is judged by only one figure - how much is somebody prepared to pay for it at the time? The most significant considerations for pricing a property are recent sales and current competition. The former is a review of what other properties of this type have sold for, while the latter takes into account similar homes that are presently on the market.

Your real estate agent can provide you with information and advice regarding both of these aspects of the house-hunting process through competitive market analysis.

It is also import to take note of the prevailing market conditions, as these can generate a genuine insight into short-term trends and help prospective homebuyers gain a feel for what they will need to pay to achieve their goals.

If high buyer demand exists at a time when very little property is actually available, prices are likely to increase.

'Seller motivation' - the reason the current owner is attempting to offload the property - might also play a major role in determining the final cost. If a quick sale is required, sellers have little choice but to accept the best offer at the time without the luxury of waiting for a better deal.
 
 
I am considering employing a buyer's agent to help find my ideal property. What exactly is their role and how do they get paid?
  A buyer's TBN agent is employed by a buyer to establish a shortlist of properties that meet their specific requirements or preferences.

Once this list has been developed, the agent takes the clients to inspect the selected properties and negotiate the purchase price on the buyer's behalf - or possibly making a counter offer.

There is a fee for using a buyer's agent in case of resale units, but the main advantage is that it saves the buyer from having to spend time looking at unsuitable properties.
 
 
Why should I carry out a final inspection on the property I am buying?
  No matter how excited you are about purchasing your new house or unit, it is prudent to undertake a final inspection to ensure that the property is still in the same condition it was when you negotiated the deal.

You should check that all the fixtures and fittings included in the contract are still present and that the previous residents did not cause any damage when moving out of the property.
 
 
How many homes should I inspect when looking for a property?
  We recommend looking at enough properties to gain a comprehensive understanding of the marketplace.

This will provide you with the required knowledge to work out if the property you are interested in buying represents value for money, while also helping you to determine which location appeals to you the most.

It is important to feel confident about your eventual purchase, so viewing properties is a good way to research the market efficiently.

Alternatively, your real estate agent can give you comprehensive market analysis on the property, with details of similar properties currently for sale or in the same area.
 
 
What is the "cooling off period" in a contract?
  A cooling off period is usually where one party - usually the buyer - is given a short amount of time after signing and exchanging the contracts to decide if they definitely want to proceed.

The seller is generally bound to the contract and prohibited to sell the property to anyone else during the cooling off period.

The rules of cooling off periods differ, so take care to check the details that apply to your location with a solicitor or conveyancer.
 
 
What is an open listing?
  An open listing arrangement is a situation whereby you have gained the services of a number of different agents, who will list your property and attempt to find a buyer for you.

You are only expected to pay a commission to the successful agent when a buyer has been found.

The benefit of this type of listing is that your property may be advertised across a wider spectrum of potential buyers, but the downside is that you may not receive the same individual attention as you would by employing the services of only one agent.
 
 
What is an exclusive listing?
  With an exclusive agency agreement, you give only one agent the rights to sell your property.

This may entitle the agent to be paid a commission if the property is sold during the fixed term of the agreement, even if you or another agent were responsible for the sale.

An exclusive listing arrangement is most commonly used for the sale of residential properties
 
 
How long should it take to sell my house?
  Once your home is placed on the market, the length of time it takes to sell depends on a number of circumstances.

The biggest factor is how much you want to make for the property, having a good real estate consultant has generally proven to be the most effective way to sell it for the best price in the shortest possible timeframe.

Your TBN agent can tell you the approximate number of days properties similar to yours have spent on the market before selling. .
 
 
What does 'overcapitalised' mean?
  The term 'overcapitalised' refers to a situation where you have spent more money on your property than you will recoup from the sale price.

While it is likely that any work you have done - such as landscaping or interior construction - will add value to the property, there is no guarantee that the full amount spent on these improvements will be seen in the eventual price of sale.
 
 
Can I sell my property while it is currently leased?
  You are able to sell your property while it is being leased, but any potential purchaser must be told there is a current lease in place and that the property will not be sold with vacant possession.

The tenant has the right to occupy the residence until the end of the lease term, unless both parties negotiate and agree to terminate the existing agreement.

In some cases, the fact your property has reliable tenants in place may actually be appealing to prospective investors.
 
 
Can I sell my house by myself?
  It is not a legal requirement to use an agent to sell your property - you may elect to undertake the process yourself.

However, there are many reasons why people generally engage the services of a professional to ensure the best price.

Aside from the obvious expertise in marketing, negotiation and selling that an agent brings, most buyers also prefer not to deal directly with the seller. If buyers know you are not paying for an agent, they will usually expect to see the house price reduced accordingly.

In the end, selling a property on your own might lead to a lot of work and pressure, without actually saving any money or maximizing the end sale value.
 
 
How much rent can I receive for my property?
  To determine how much rent you can charge for your property, you will need to assess the market rent - in other words, how much money similar properties in your area are renting for.

A good place to start is to carry out some research. It is important to pay attention to the requested prices, as well as how long the properties stay on the market at those rates. Your Your TBN agent can provide you with plenty of useful information on comparative rentals in the area.
 
 
How long is a typical lease?
  In Australia, standard lease periods are generally either six or 12 months. While longer lease terms are possible, you are likely to find a smaller number of tenants who are willing to commit to this time.

You may wish to speak to your TBN agent about the different advantages of each lease length and help you determine how to maximise your return most effectively.
 
 
CAN I INCREASE THE RENT DURING THE LEASE PERIOD?
  Current rent rates must remain in place for the remainder of the lease term (unless the contract includes an agreed annual rent appreciation rate, regardless of the fixed term).