Once you’ve chosen your agent, next comes the paperwork.
A contract between the vendor (seller) and the agent is created, known as an ‘agency agreement’, which sets out the various terms involved in the contract.
Some things to be filled out are conditions like;
Instruction to solicitor / conveyancer
Vendor/s details
Agent details
Property details
Price
Method of sale – Private treaty (for sale) or auction
Agency period (length of agreement)
Agent’s remuneration (agent fees)
Inspection
Promotional activities (marketing)
Expenses
Payment to principal (vendor)
Disclosure of rebates, discounts, commissions or benefits
Once the agreement is filled out, you’ll send the instruction sheet to your solicitor or conveyancer so that they can get underway on preparing the contract of sale ASAP.
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This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
