Agent’s Commission
Agent’s fees used to be set by the government however, today we have a deregulated industry and fees are negotiated on a property to property basis. In other words, the rate of commission will vary depending on the value type, location, condition and overall saleability of the property.
The commission is payable to provide the Agent with a reward for doing their job successfully and because in most cases it is a percentage based reward the higher the amount obtained for the client the greater the reward for incentive for the Sales Consultant.
Be mindful of the statement often used in the Real Estate industry, ‘The lower the fee the lower the price’.
Marketing Costs
The old saying of, ‘You can’t sell something if you’re going to keep it a secret’, certainly applies to property sales.
Advertising is the main thrust of a total marketing campaign, however it should be noted that advertising doesn’t sell property, Sales Consultants do. It is vital that your property reaches the buying public and not only reaches them but is delivered to them in such a way that they sit up and take notice. Once the property has created interest, this will generally result in enquiries and then it is up to the Sales Consultant to obtain you the maximum result.
You should be guided by your Sales Consultant as to what advertising expenditure would be required. It is vital that your property be presented to the market in a professional way, ‘sloppy advertising’ can result in ‘sloppy prices’. You don’t have to spend a fortune in advertising but what is done must present the image you want. Be sharp, crisp, well written and something of obvious pride. This will certainly add to the result.
Some properties can be simply placed ‘in the mix’ with all the general advertising carried out by De Freitas & Ryan, however, some properties do need their Seller to give them more focused status and this is where the Seller sets aside a certain amount of marketing expenditure to help profile their property.
When it comes to marketing you should consider the following:
- Brochures
- Signboards
- Local Paper – Advertising
- Daily Paper – Advertising
- The Internet
- Window Displays
At De Freitas & Ryan, your Sales Consultant can guide you as to what is in the best interests of you and your property in relation to marketing expenses.
Conveyancing Costs
Conveyancing costs relate to the cost of handling all the necessary legal requirements in transferring the property from your name to that of the buyers.
These details are usually handled by a Solicitor or a Conveyancer on your behalf, who will charge you a fee for doing so. These fees can vary a great deal depending on who handles it for you and how complex the transaction is.
If you have a Solicitor or Conveyancer you have used before, you should be able to obtain a quote for their services over the telephone. Some of the information they may find helpful will include the type of title you are transferring, the time frame involved, your planned method of sale, and whether you want them to handle your purchase as well.
Remember, if you do not know anyone who could handle these matters for you, your De Freitas & Ryan Sales Consultant will be more than happy to refer you to an experienced and caring professional who can supply you with an obligation free quote.