Buying or Selling?
Buying a house or land?
If youre thinking of buying a new home or investing in real estate our free mortgage calculator on the left will give you an idea of your financing requirements before you start looking. We all want to know how much a property is going to cost and what better place to start than a mortgage calculator.
It is always best to have a good understanding of what your budget for buying real estate is. It is the first step towards achieving your goal.
Once you have a good idea of what you can afford contact me for help. I can offer assistance in many areas which are tricky such as titles, pricing, market valuations, contract terms and conditions and of course negotiations. But most of all I can take much of the stress out of the process and best of all it will not cost you anything for my professional services.
Selling your property? What next?
So you have decided to sell your property. How much is it worth? Call me for a free no obligation appraisal
Armed with an estimated value for your property - you need to bring it to the market by listing it. There are two basic types of listing - General and Exclusive
General Agency – This is where the Agent has no exclusivity and other agents can also be appointed.
a. This type of listing is reasonably rare because agents prefer to concentrate
their attention on their exclusive listings.
b. These types of listings typically have the longest days on the market as a
result, and end up not selling at a premium or a fair market price and often
not selling at all.
c. There is a lot more work involved for the vendor as they struggle to deal
with multiple agents.
Exclusive/Sole Agency – This is when a single Agent is appointed on an exclusive basis to manage the sale of the property and it is listed with a price. This is the most common type of listing method accounting for about 65% to 70% of all listings.
a. A price will attract buyers looking in the area who themselves believe they
are in the price range. The property will need to compare well with other
properties similarly priced in the area – requiring a careful and well
planned marketing strategy by a professional.
b. Can allow a sale to occur on the first day of marketing.
c. Offers can have conditions or be unconditional.
d. Full commitment that my efforts and that of the whole Ray White team will
continue for the entire duration of our appointment as exclusive agent. The
sales team visits all properties.
e. Works best and can provide the quickest sale when the pricing is
appropriate and competitive for the market at the time of listing – an
attractive price will always work best when combined with a
professional marketing strategy.
Tender Agency – Marketing without a price – This is also an exclusive agency listing but starting with a tender process to sell the property – most commonly used in commercial or rural types of sales.
a. There is a fixed date and a designated timeframe for potential buyers to
submit offers.
b. The process is private in comparison to an auction. None of the interested
parties can see the others offer.
c. There is perceived competition by the interested party or parties and the
set date creates urgency.
d. Tenders may have conditions inserted or can be unconditional – it is the
buyers choice.
e. Buyers are encouraged to submit their highest price and often they do
– however sometimes they take a gamble on being the only buyer and
put in an offer with a view to being able to negotiate.
f. On the tender closing date the vendor is invited to open the envelopes
and make a judgment on which offer to accept or to negotiate. A sale can
only occur on the tender closing date or after.
Auction Agency – Marketing without a price – This is also an exclusive agency listing but starting with an Auction process to sell the property.
a. There is a fixed date and designated time frame when the Auction will occur
ensuring buyers are attracted to the property without being forced to make a
hurried decision.
b. No advertised price allowing feedback of the markets impression of the value
c. The process requires the buyers to make a value judgment about the
property based on their perception of value.
d. Unlike a tender the bidding process is public, open and the bidders are all
aware of the price offers as it progresses.
e. The sale must be unconditional when it is sold at auction or prior to auction.
The seller has the option to sell prior to auction.