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4/16-18 Murray Street, Bronte, Sydney market appraisal presentation for apartment by LJ Hooker Bondi Junction - Robert Stein-Rostaing
Citation preview
Your Local Property ExpertLJ Hooker Bondi Junction
Arthur Veliss & Mark RogersPrepared in confidence for
BRONTE, NSW 2024Apartment 4/18 Murray Street
The selling process
Successful selling
Selling your property is a combination of emotion and hard financial decisions.
Using LJ Hooker Bondi Junction is the first step towards obtaining the right
result.
Using us means you have a partner in the selling process, someone with the
knowledge and expertise to make the selling experience an easier one for you.
We will use a systematic approach to determine a price –factoring in prices of
local homes that have recently sold, properties that are currently for sale, the
state of the market and our knowledge of buyers in the market place.
The question “how much can I get for my property?”should really be “what will
you do to get the best price for my property?”.
In today’s competitive market, the best agents offer specialised multi-faceted
marketing to capture buyers from across the suburb, across the country and
around the world.
Marketing plans which utilise a combination of marketing tools including
signage, local advertising, direct mail, buyer databases, internet exposure,
media editorial and much more, to maximise your chances of attracting buyers.
LJ Hooker Bondi Junction will deliver this and more.
The selling process
Methods of sale
Auction
Higher prices can be achieved
Creates competition between buyers
Offers prior to Auction can be considered
Creates urgency for buyers to show their interest
Sale is unconditional on Auction day
Concentrated marketing can reach more buyers, more quickly
Often results in a quicker sale than private treaty
Can be offered for sale by private treaty after an Auction
Private Treaty
You set the price, together with your agent
Some buyers are reluctant to bid at auction
You have time (within reason) to consider any offers
Sale by Tender
"Tender" means that buyers have to submit a price by a specified date.
The buyers will not know how much someone else has submitted, whoever
has submitted the highest offer will be successful in purchasing the property
Our recommendation for Apartment 4/18 Murray Street, BRONTE
Given current market conditions, together with the characteristics of your property, werecommend the home be offered for sale by Auction.
Auction
The Auction system of marketing and selling Real Estate is not a new
innovation – in fact auctions have been a part of the Real Estate Industry’s
culture for over 150 years with LJ Hooker leading the way since 1928.
However, what has changed substantially is the way Real Estate Auctions
have evolved over time.
Responding to the way consumers require business to be conducted and
adapting to changing legislation, LJ Hooker has moved into the 21st
century with a totally transparent and consumer friendly process. We
believe a well conducted Auction should provide an open and fair
environment for both buyers and sellers.
LJ Hooker understands that the handling of an Auction requires a certain
process to be followed whereby many strategic aspects must be covered
throughout the course of an Auction marketing campaign in order to
achieve a great result.
• Auctions attract more buyers to your property, as people don’t dismiss
it because of an asking price.
• The sense of urgency created by the auction date stops buyers
delaying a decision and lets them know you are serious about selling.
• You are protected by a reserve price; this means your property won’t sell unless bidding reaches a pre-agreed level.
• At an auction there is no ceiling price so you have the opportunity to
achieve a price above your expectations.
• Auctions produce an unconditional contract for sale with a set
settlement date.
The selling process
Marketing options for your property
A tailored marketing strategy
Getting your marketing right from the start is critical to ensuring you get the best result for your property. Once we have discussed which selling method you’d like to use, we’ll develop a detailed plan that reaches the greatest number of potential buyers by combining:
Signage, displays and touchscreens
We use a combination of methods to ensure that your property receives maximum exposure in the immediate local area, including the LJ Hooker sign, local full colour property guides and brochures, office window displays and interactive kiosks.
Newspapers and direct mail
Newspaper advertising and direct mail provide maximum exposure for your property in the shortest possible time.
ljhooker.com.au
ljhooker.com.au is Australia’s #1 agent web site, attracting over 450,000 people who visit every month.
This means your home is showcased to thousands of prospective local, national and international buyers all day, every day.
Database
We will leverage ‘e2’, our database of local, national and international prospects to ensure that we attract the highest number of qualified buyers to your property. This could include an invitation only open home before advertsing commences.
Additional internet reach
We’ll also automatically list your property on a number of high traffic Australian and International real estate sites – in addition to any advertising on realestate.com.au and domain.com.au that is part of your tailored marketing strategy. This complimentary service is unique to LJ Hooker and will expose your home to over 5.9 million more potential buyers.
Social media
We also use channels such as Facebook and Twitter to generate maximum interest and exposure.
Which marketing mediums are most effective?
Marketing options for your property
Internet31%
Local property magazine3%
Advertisements in city paper5%
Advertisements in local weekly paper17%
Signboard13%
Local Office ‐ you knew they were there
8%
Previously dealt with agent / office7%
Viewed property in office window
6%
Referred from a friend / relative / associate
6%
Agent / office contacted you4%
Power of the LJ Hooker office working for you: 32%
Current as at last calendar year
A tailored marketing strategy
Our unique complimentary listing service
These days 90% of Australians use the internet when they research for property*, so maximising your exposure on real estate websites is critical.
We’ll automatically list your property on a number of high traffic Australian and International real estate sites – in addition to any advertising on realestate.com.au and domain.com.au that is part of your tailored marketing strategy.
Your property will appear on these Australian websites:
• ljhooker.com.au – Australia’s Number One~ agent website
• homehound.com.au
• thehomepage.com.au
• homesales.com.au
• propertynow.com.au
• realestate1.net.au
• rent.com.au
• realestateworld.com.au
Plus the International websites
• rightmove.co.uk
• Including iProperty Group, Asia’s #1 online property group.
• And China’s largest property website, Juwai.com.
This complimentary service is unique to LJ Hooker and will expose your home to over 5.9 million^ more potential buyers.
Social media
We also use channels such as Facebook and Twitter to generate maximum interest and exposure.
Marketing options for your property
**Nielsen online property report, 2010 ^As at August 2012 ~Google Analytics, LJ Hooker
Our team working for you
Local team strength and local area expertise
delivering powerful, proven marketing programs.
Maximum buyer interest through a unique Customer
Referral System across a network with over 690 LJ
Hooker offices internationally working harder for you.
Personalised Activity Schedules keeping you fully
informed during the process.
Our distinctive signboard range gives your property
high visibility.
We provide reward opportunities to Vendors who list
and sell exclusively through LJ Hooker.
You can earn 20,000 Qantas Frequent Flyer points#
when you list and sell your residential property
exclusively with LJ Hooker.
LJ Hooker is the principal national partner of Cystic
Fibrosis Australia –raising money to help find a cure
for this life threatening genetic condition.
We actively support the local communities we serve.
Marketing options for your property
# You must be a member of the Qantas Frequent Flyer program to earn and redeem points in accordance with the terms and conditions of the Qantas Frequent Flyer program. A joining fee applies. To join visit qantas.com/frequent flyer or call 13 11 31. This is a once only per property points allocation for properties sold in Australia and cannot be claimed in conjunction with any other rewards program in which LJ Hooker participates. Your Qantas Frequent flyer membership number and the number of points you will receive after settlement must be clearly stated in your LJ Hooker exclusive agreement for the sale of your property.
Internet
Reaching people in the next street, the next suburb, around the country and
across the world!
Australia’s most visited single branded real estate website.*
When you appoint LJ Hooker your home is showcased on not one, but
seven of Australia’s top real estate websites: ljhooker.com.au,
homehound.com.au, thehomepage.com.au, homesales.com.au,
realestate1.net.au, rent.com.au, RealEstateWorld.com.au, and
PropertyInvestor.com.au - bringing more potential buyers and investors to
your property! Plus three leading international websites; rightmove.co.uk,
juwai.com – China’s largest property website and iPropertyGroup, Asia’s #1
online property group.
LJ Hooker also offers vendors and purchasers the easiest communication
method of all…myljhooker – your online real estate assistant automatically
matching your property to every buyer nominating a search criteria of
similar features.
Marketing options for your property
* Source: Nielsen/NetRatings
How your property may look on ljhooker.com.au
Marketing options for your property
Newspaper advertising optionsMarketing options for your property
Other channels
LJ Hooker window display
• Many people looking to buy, view our window display.
• Your property will be displayed in our office window in full colour and
our display is fully lit at night.
Property drop cards
• Delivered to surrounding property owners, the Property Dropcard is a
high impact, succinct method of capturing their interest and generating
their enquiry.
Editorial submissions
• Editorial submissions will be made to all local publications for the
opportunity to secure editorial for your property.
• Please note, we have a high success rate for the publishing of
editorials, however, we cannot guarantee any property submission will
result in publication of free editorial as this is at the sole discretion of
the Real Estate Editor of each publication.
Marketing options for your property
How we communicate with you
Regular Activity Reports include
As one of our clients you will benefit from the variety of in-depth and
personal ways we communicate with you throughout the selling process.
The regular Activity Report provides an unrivalled snapshot of exactly what
is happening with the marketing and sale of your property, including:
• The number of buyers who have enquired
• How many people have viewed the property online
• How many buyers have inspected the property
• The comments and level of interest of these buyers
• The follow up of any potential buyers and their current status
• Activities we have performed that week to bring you a successful sale
• What activities we are due to perform for you in the coming week
• What correspondence has taken place on your behalf eg. letters to
solicitors
• Any changes to the listing of your home that have taken place
• An update on what marketing has been undertaken, including costs
• A copy of all marketing materials developed that week
• A statement of account for any advertising spent
• Of course, we will also meet with you regularly to discuss where we are
up to with the sale and answer any questions you have about the
proceedings
• Plus more.
How we communicate with you
Regular Activity Reports example How we communicate with you
5 rules of buyer behaviour
The 5 rules of buyer behaviour
1. Buyers look to exclude
2. They don’t think price they think price
range
3. They’ll spend 10-20% above their original
expectations
4. They start thinking logically, then they
think emotionally
5. They’ll pay less the longer the property is
on the market – the first 2 weeks are
critical
5 rules of buyer behaviour
The current market
Comparative Market Analysis
We have prepared the following comparative market analysis specifically
for your property. It displays all nearby and/or similar properties for sale and
those sold in recent times. It details:
1. Properties that are currently on the market with similar features as
yours
2. Properties with similar features to yours which have recently sold
3. The average length of time on market
4. The difference between the asking price and actual selling price
The current market
COMPARATIVE MARKET ANALYSIS
4/16-18 Murray Street Bronte NSW 2024
Robert Stein-RostaingEmail: [email protected]
Mobile: 0451 443 052Office: 02 8383 1900
4/16-18 Murray Street Bronte, NSW, 2024 2 1 1 7,947m2
DESCRIPTION
PROPERTY TYPE: Unit
ZONING: Residential
LAND USE: Residential Strata Units
REAL PROPERTY DESCRIPTOR: LOT 4 SP54647
FEATURES
1 Lockup Garages $146,225 Unimproved Capital Value (Land Value)
01 Jul 99 Date of UCV (Land Value) Private & Others Owner Code
SALES HISTORY PROPERTY DIMENSIONS
PROPERTY DETAILS
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
Aerial View
Cadastral View
SINGLE PROPERTY MAPPING
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
Points of Interest View
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
Robert Stein-Rostaing
Email: [email protected] Mobile: 0451 443 052 Office: 02 8383 1900
LJ Hooker - Bondi Junction
42 Spring Street, BONDI JUNCTION NSW 2022 AUS +61(02)83831900
ABOUT ME
From the UK and sponsored by LJ Hooker Bondi Junction to focus on domestic and international sales
for the firm. His entrepreneurial pedigree in international business sales across various industries
provides him a great platform to work in Residential Sales; only matched by his experience in marketing
and internet communications. The founder of a celebrated technology firm which he built up and sold,
Robert is superbly skilled at harnessing the power of the most cutting-edge technologies and the full
platform of the internet to maximise sales returns for his vendors and to communicate with them in a way
that meets and surpasses their highest expectations. Having spent many years on the other side of the
real estate table as a buyer, vendor and property developer and being closely related to the Hooker
Family, Robert could think of no better company to join than LJ Hooker. To him, it’s genuinely a family
business; real estate is in his blood.
RECENT PROPERTIES WORTH MENTION
3 2 - 139m2
5 Dudley Street Paddington, NSW, 2021
$1,650,000 Sold Price:
2 1 1 649m2
9/76 Birriga Road Bellevue Hill, NSW, 2023
$860,000 Sold Price:
18 9 9 727m2
12-14 Brighton Boulevard North Bondi, NSW,
2026
$8,500,000 Sold Price:
YOUR PROFESSIONAL AGENT
© 2015 RP Data Pty Limited, All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials
is permitted. The information is deemed reliable but not guaranteed.
6/36 Botany Street Bondi Junction NSW 2022
Sold Price: $905,000Sold Date: 16 Jun 2015Category: UnitLot Plan: 6/SP7662 BONDI JUNCTION NSW
2 1 1 307m2
Distance: 0.00km
8/359A Bronte Road Bronte NSW 2024
Sold Price: $800,000Sold Date: 21 Mar 2015Category: UnitLot Plan:
2 1 1 -
Distance: 0.18km
1/246 Bondi Road Bondi NSW 2026
Sold Price: $740,000Sold Date: 9 Feb 2015Category: UnitLot Plan: 1/SP18626 BONDI NSW
2 1 1 503m2
Distance: 0.00km
10/13 Macpherson Street Waverley NSW 2024
Sold Price: $875,000Sold Date: 17 Jul 2015Category: UnitLot Plan: 10/SP4990 WAVERLEY NSW
2 1 1 2,106m2
Distance: 0.00km
1/33 Read Street Bronte NSW 2024
Sold Price: $870,000Sold Date: 5 Jun 2015Category: UnitLot Plan: 1/SP13239 BRONTE NSW
2 1 1 463m2
Distance: 0.29km
5/207 Birrell Street Waverley NSW 2024
Sold Price: $860,000Sold Date: 14 Feb 2015Category: UnitLot Plan: 5/SP21800 WAVERLEY NSW
2 1 1 1,099m2
Distance: 0.43km
SOLD PROPERTIES
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
16/85-95 Albion Street Randwick NSW 2031
Sold Price: $980,000Sold Date: 13 Jul 2015Category: UnitLot Plan: 16/SP9086 RANDWICK NSW
2 1 1 1,689m2
Distance: 0.00km
1/290 Birrell Street Bondi NSW 2026
Sold Price: $765,000Sold Date: 10 Apr 2015Category: UnitLot Plan: 1/SP1458 BONDI NSW
2 1 1 653m2
Distance: 0.50km
5/246 Bondi Road Bondi NSW 2026
Sold Price: $860,000Sold Date: 18 Feb 2015Category: UnitLot Plan: 5/SP18626 BONDI NSW
2 1 1 503m2
Distance: 0.00km
11/284 Birrell Street Bondi NSW 2026
Sold Price: $830,000Sold Date: 13 Mar 2015Category: UnitLot Plan: 11/SP2771 BONDI NSW
2 1 1 805m2
Distance: 0.00km
7/1 Macpherson Street Waverley NSW 2024
Sold Price: $900,000Sold Date: 30 Apr 2015Category: UnitLot Plan: 7/SP14738 WAVERLEY NSW
2 1 1 878m2
Distance: 0.00km
14/4 Macpherson Street Waverley NSW 2024
Sold Price: $875,000Sold Date: 4 Jul 2015Category: UnitLot Plan: 14/SP2404 WAVERLEY NSW
2 1 1 1,226m2
Distance: 0.00km
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
4/36 Botany Street Bondi Junction NSW 2022
Sold Price: $760,000Sold Date: 20 May 2015Category: UnitLot Plan: 4/SP7662 BONDI JUNCTION NSW
2 1 1 297m2
Distance: 0.00km
5/33 Read Street Bronte NSW 2024
Sold Price: $975,000Sold Date: 2 Apr 2015Category: UnitLot Plan: 5/SP13239 BRONTE NSW
2 1 1 463m2
Distance: 0.29km
5/133 Macpherson Street Bronte NSW 2024
Sold Price: $760,000Sold Date: 29 May 2015Category: UnitLot Plan: 5/SP22602 BRONTE NSW
2 1 1 556m2
Distance: 0.00km
19/5-7 Macpherson Street Waverley NSW 2024
Sold Price: $925,100Sold Date: 22 Apr 2015Category: UnitLot Plan: 19/SP4583 WAVERLEY NSW
2 1 1 1,479m2
Distance: 0.00km
4/380 Bronte Road Bronte NSW 2024
Sold Price: $907,500Sold Date: 26 Mar 2015Category: UnitLot Plan: 4/SP2617 BRONTE NSW
2 1 1 1,465m2
Distance: 0.32km
2/503 Bronte Road Bronte NSW 2024
Sold Price: $860,000Sold Date: 13 Apr 2015Category: UnitLot Plan: 2/SP1150 BRONTE NSW
2 1 1 646m2
Distance: 0.00km
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
4/16-18 Murray Street Bronte NSW 2024 2 1 1 7,947m2
YOUR PROPERTY
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
3/36 Botany Street Bondi Junction NSW 2022
Listing Price: AuctionListing Date: 27 Jul 2015Lot Plan: 3/SP7662 BONDI JUNCTION NSW
2 1 1 307m2
Listing Type: AuctionDistance: 0.00km
3/11 Belgrave Street Bronte NSW 2024
Listing Price: Contact agentListing Date: 25 Jul 2015Lot Plan: 3/SP15339 BRONTE NSW
2 1 1 447m2
Listing Type: Normal SaleDistance: 0.34km
8/428-430 Bronte Road Bronte NSW 2024
Listing Price: AuctionListing Date: 23 Jul 2015Lot Plan: 8/SP10542 BRONTE NSW
2 1 1 657m2
Listing Type: AuctionDistance: 0.13km
6/69 Albion Street Waverley NSW 2024
Listing Price: AUCTIONListing Date: 26 Jul 2015Lot Plan: 6/SP75535 WAVERLEY NSW
2 1 1 665m2
Listing Type: Normal SaleDistance: 0.00km
9/1A Macpherson Street Waverley NSW 2024
Listing Price: AuctionListing Date: 23 Jul 2015Lot Plan: 9/SP7899 WAVERLEY NSW
2 1 1 819m2
Listing Type: AuctionDistance: 0.00km
ON THE MARKET
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
2 1 1 447m2
3/11 Belgrave Street Bronte NSW 2024
First Ad Price: $960,000 Last Ad Price: $960,000Actual Sale Price:% Change First to Last Ad Price: 0%% Total Change:
Days On Market: 33Distance: 0.34km
2 1 1 1,465m2
4/380 Bronte Road Bronte NSW 2024
First Ad Price: $750,000 Last Ad Price: $750,000Actual Sale Price: $907,500% Change First to Last Ad Price: 0%% Total Change: 21%
Days On Market: 25Distance: 0.32km
2 1 1 657m2
8/428-430 Bronte Road Bronte NSW 2024
First Ad Price: Last Ad Price: AuctionActual Sale Price:% Change First to Last Ad Price:% Total Change:
Days On Market: 8Distance: 0.13km
2 1 1 463m2
1/33 Read Street Bronte NSW 2024
First Ad Price: Last Ad Price: AuctionActual Sale Price: $870,000% Change First to Last Ad Price:% Total Change:
Days On Market: 16Distance: 0.29km
2 1 1 463m2
5/33 Read Street Bronte NSW 2024
First Ad Price: Last Ad Price:Actual Sale Price: $975,000% Change First to Last Ad Price:% Total Change:
Days On Market: 10Distance: 0.29km
2 1 1 1,099m2
5/207 Birrell Street Waverley NSW 2024
First Ad Price: Last Ad Price: AuctionActual Sale Price: $860,000% Change First to Last Ad Price:% Total Change:
Days On Market: 25Distance: 0.43km
MARKET COMPARISON
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The size of Bronte is approximately 1 square kilometres. It has 5 parks covering nearly 11% of total area.
The population of Bronte in 2006 was 6,675 people. By 2011 the population was 6,830 showing a population growth of 2% in thearea during that time.
The predominant age group in Bronte is 0-14 years.
Households in Bronte are primarily couples with children and are likely to be repaying between over $4000 per month on mortgagerepayments.
In general, people in Bronte work in a Professional occupation.
In 2006, 60.2% of the homes in Bronte were owner-occupied compared with 59.4% in 2011.
Currently the median sales price of houses in the area is 2,750,000.
AREA PROFILE
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Recent Median Unit Sale Prices
BRONTE WAVERLEY LGAPeriod Median Price Median Price
June 2015 $875,000 $870,000
May 2015 $1,116,000 $850,000
April 2015 $975,000 $975,000
March 2015 $855,000 $955,500
February 2015 $443,000 $862,500
January 2015 $938,000 $945,000
December 2014 $938,000 $885,000
November 2014 $865,000 $835,000
October 2014 $865,000 $895,000
September 2014 $1,400,000 $947,500
August 2014 $765,000 $835,000
July 2014 $942,000 $750,000
RECENT MEDIAN SALE PRICES
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Unit Sales Per Annum
BRONTEPeriod Number
2015 22
2014 60
2013 80
2012 74
2011 58
2010 62
2009 55
2008 68
2007 66
2006 77
SALES PER ANNUM
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Capital Growth in Median Prices (Unit)
BRONTE WAVERLEY LGAPeriod % Change % Change
2014 20.5% 12.2%
2013 1% 8.1%
2012 10.3% 3%
2011 -6.7% 0.7%
2010 0.9% 11.1%
2009 9.9% 9.3%
2008 13.9% -2.3%
2007 7.2% 10.6%
2006 -1.5% -2%
2005 -0.4% 0%
CAPITAL GROWTH MEDIAN PRICES
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Household Structure
Type Percent
Couples with Children 46.2
Childless Couples 25.3
Lone Households 12.7
Group Households 7.4
Other 5.1
Single Parents 3.3
HOUSEHOLD
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
Household Occupancy
Type Percent
Renting 38.3
Owns Outright 32.5
Purchaser 26.9
Other 2.3
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
BRONTE WAVERLEY LGAAge Group Male % Female % Male % Female %
0-14 9.6 9.2 7.9 7.3
15-24 4.2 4.8 4.7 5.2
25-34 8.5 9.6 12.2 12.6
35-44 9.1 9.1 9.3 8.9
45-54 7.7 7.3 5.9 5.6
55-64 4.9 5.3 4.4 4.5
65-74 3.0 3.0 2.7 2.9
75-84 1.3 2.2 1.6 2.2
85- 0.3 1.0 0.7 1.4
AGE SEX RATIO
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Income Range Bronte % Waverley LGA %
0-15K 2.5 3.0
15-31K 7.7 9.3
31-52K 7.7 10.4
52-78K 10.1 11.2
78-130K 17.1 16.8
130-180K 22.8 21.2
180K- 18.3 14.3
HOUSEHOLD INCOME
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
Auction clearance rates locally remain over 80% in recent months and house prices have gone up 10% this past year alone, butsupply and demand dynamics have kicked in - strong supply of new properties matches buyer demand so deals can be achievedprior to auction. Recent China and AUS FTA , the 1st of it's kind, will have an impact on housing prices with the USA taking anincreasingly back step to AUS as the FDI country of choice. Chinese like to buy near their friends & associates.
MARKET TRENDS
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
4/16-18 Murray Street Bronte NSW 2024 2 1 1 7,947m2
APPRAISAL PRICE (PRE-VIEWING)
Recommended Listing Price: Take to AuctionAppraisal Price Range: $850,000 - $950,000
Prepared On: 29 Jul 2015Prepared For: Arthur Veliss & Mark RogersThis is not a valuation but a suggested price guide for the property. This suggested list price is furthermore based on comparables in the area and might differsignificantly based on the property's water views, aspect and general condition which cannot be assessed accurately prior to viewing.
AGENT DETAILS
Robert Stein-Rostaing
Mobile: 0451 443 052Office: 02 8383 1900
Email: [email protected]
SUGGESTED LISTING PRICE (PRE-VIEWING)
© Copyright 2015 RP Data Pty Ltd trading as CoreLogic AU (CoreLogic), Local, State, and CommonwealthGovernments. All rights reserved.
The numbers
Pricing your property
Thank you for inviting me to provide a market appraisal for your home. Based on our knowledge of similar sales within the area and the current market demand for properties such as yours, it is our opinion in the current real estate market;
would realise a price of
Other factors exist that can ultimately affect the sale price of a property – from competitive bidding at auction, or seasonal factors to movements in interest rates affecting demand. As your agent, I will always work to achieve the highest possible price for you in all circumstances.
Although we have taken care in arriving at this figure, we must state that this appraisal is not for use by any third party. It has been prepared for you for the purposes of considering the sale of property and is not to be taken as a sworn valuation.
The numbers
Advertising Prices
Wentworth Courier (at cost)
1/4 Page $887.00 PW Per line pw $13.64
1/2 Page $1,680.00 PW
Full Page $2,936.00 PW 1/8th page (sun) $726.00
Double Page Spread $4,802.00 PW
Properties under $750,000 $365.00 PW 1/4 page (sat) $951.00
1/8th page (sat) $511.00
3X4 Photo $185.00
Brochures & Booklets $321.00 A5 6X4 Photo $245.00
$400.00 A4 6x4 V-Shape $730.00
8x4 Photo $310.00
Photography $350.00 7x3.5 Envirosign $395.00
Floor Plan (Apartment) $110.00 Flag attachment $15.00
Floor Plan (Terrace/House) $165.00 Spotlight +timer $120.00
Drop Cards $150.00
Video $550.00 Websites $1,800.00
(.com.au)
Auction Costs $795.00 Domain 6 week boost
Realestate
Costs For Your Home Juwai.com
4/16-18 Murray Street LJHooker
Chinese Daily 1/8 page x1 $511.00 Homepage
Auction Fee (once booked non-refundable) $795.00 Millionplus
Signboard $245.00 Homesales
Signboard extras $15.00 Homehound
Brochures $400.00 iProperty
Floorplan $110.00 Squiz
3D floorplan $200.00 Houseandland
Photography $350.00 Rightmove
Internet $1,800.00 Realestateview
Video $550.00 Realestateworld
Letter box drops $150.00 Realestate1
Total $5,126 Propertynow
Agent(s): Robert Stein-Rostaing
Standard LJHooker Commission Fee 2.00%
Offered Commission Fee 1.35%
Example Commission rates Sale Price Commission Total
Commission (including 10% GST) $900,000 $13,365 $18,491
1.49% $950,000 $14,108 $19,234
$1,000,000 $14,850 $19,976
Flat Fee offered $18,500
SMHerald
SunHerald
Signboard
Internet
Chinese Daily
Who we are
Meet your local LJ Hooker property expert
Sales & Marketing Executive LJ Hooker BondiJunction
Robert Stein-Rostaing
Robert joined LJ Hooker Bondi Junction to focus oninternational sales for the firm. His pedigree in internationalbusiness sales across various industries provides him agreat platform to work in Residential Sales, only matchedby his experience in marketing and internetcommunications. As the founder and seller of a celebratedtechnology firm in the UK, Robert is well positioned toharness the power of the most cutting-edge technologiesand the full platform of the internet to maximise salesreturns for his vendors and to communicate with them in away that meets and surpasses their highest expectations.
Having spent many years on the other side of the realestate table as a buyer, vendor and property developer inthe UK and the European continent and being related tothe Hooker Family, Robert could think of no bettercompany to join than LJ Hooker. To him, it’s a familybusiness in real terms as well as figuratively and one couldsay that real estate is in his blood. He looks forward tousing his wide range of business skills, his strong workethic and his person-ability to become one of the leadingreal estate agents in the Eastern Suburbs as well as withinthe entire LJ Hooker group.
Robert graduated with a Bachelor of Science with Honoursfrom King College London University and is a graduate ofLJ Hooker's Future Captain's Program.
Learn more about my experience and credentialshttp://www.linkedin.com/in/robsteinrostaing
bondijunction.ljhooker.com.au
0451 443 052
42 Spring Street BONDI JUNCTION2022
My contact details
LJ Hooker Bondi Junction is one of 720 highly active LJ Hooker Offices throughout the network in Australia and
overseas.
The Bondi Junction office is located conveniently in the heart of Sydney’s Eastern Suburbs with high profile street
frontage and set amongst the solid financial epicenter of the East. The office is very close to Westfield’s Bondi
Junction which has quickly become Australia’s premier shopping centre with the country’s leading designers &
boutique retail outlets. LJ Hooker Bondi Junction has many specialist departments with dedicated team members
managing associated residential sales, commercial sales, leasing, valuations, property management and finance.
LJ Hooker Bondi Junction, with its commitment to the Eastern Suburbs market, has become one of the area’s
market leaders. Our technique, strong negotiating skills and marketing experience have all contributed to
premium prices being paid in both the commercial and the residential arena. Whilst we are regularly selling local
properties between $1,000,000 and $5,000,000, we remain very conscious of our grassroots in the area and
continue to service the entire market by selling property from $300,000 upwards. We attribute our great success
on our well satisfied client base developed throughout the years of service to the area and in return we have our
clients’ ongoing support of repeat business and referrals. We continue to be diligent in all our efforts to provide
the service and results that our company’s reputation has been built on.
42 Spring Street Bondi Junction NSW 2022 Phone Number: 8383 1900 Direct line 8383 1906 Fax: 9369 3154
Email: [email protected] Web: bondijunction.ljhooker.com.au
About the LJ Hooker brand
Our history
1928: Founder Sir Leslie Hooker opens first office in Maroubra, Sydney
1947: LJ Hooker Limited is floated on the Australian Stock Exchange
1953: Becomes the largest real estate agency in Australia
1959: Forms Australia’s first property unit trust
1960s: Becomes the largest private landowner in Australia, amassing land holdings approximately the same size as Belgium
Introduces the integrated real estate agency concept – land, construction, finance, sales, leasing and management of property for both Residential and Commercial
1965: Builds Australia’s first large suburban shopping centre, Warringah Mall, on Sydney’s Northern Beaches
Co-builds Australia’s largest private residential development project in Sydney’s north west, comprising of 2,200 homes
1967: Introduces the franchise model to real estate
1973: Founder Sir Leslie Hooker receives a Knighthood
1978: Celebrates 50th anniversary with opening of 100th franchise office
1989: Purchased by Suncorp
1998 – 2007: Rapid international expansion phase, rolling into NZ, China, Japan, Indonesia, India, PNG and the South Pacific
2009: Acquired by a consortium led by grandson of founder, L. Janusz Hooker
Testimonials
Testimonial for Robert Stein-Rostaing 14-11-2014
We were initially attracted to the LJ Hooker brand name as we knew they have a good reputation
and good market share in the eastern suburbs of Sydney. We met with the principal, Rob Paridis,
and Robert Stein-Rostaing and they offered a level of service that made us very comfortable and
this was demonstrated by “how” the sales marketing campaign would be conducted. Even before
we had signed a sales agreement Robert had a very detailed report on our suburb, highlighting the
types of owners, their occupations, socio-economic data and importantly a complete and fully
detailed list of recent sales in the suburb.
What was very impressive was the high level of communication that was maintained throughout
the sales campaign. Robert continually provided us feedback on the potential buyers - their price
points and what they liked and didn’t like. Even when we were overseas for two weeks Robert’s
weekly vendor reports were delivered to us in addition to emails informing us on the progress of
the campaign.
We were also very impressed with the high level of complimentary services that were offered,
such as letterbox drop-cards, the marketing brochures, the laminated DA plans and the high
quality video of our property.
What makes a good real estate sales agent who can achieve a superior sales price? Well, we think
it is one who continually engages the potential buyers and provides this feedback to vendors and
this how Robert exceeded our sales price expectation. Also, Robert displayed excellent
communication skills coupled with a strategic negotiating ability when dealing with potential
interested buyers. Robert immediately had our tenant on side and developed such a rapport that
our property was always kept in a spotless state prior to open house inspections.
Robert exceeded our price expectation and his preparedness to negotiate with a buyer all
weekend before the property was to go to auction ensured that we would successfully complete
the sale.
I would thoroughly recommend Robert to anyone who is considering selling their property as he
has the depth of requisite skills in – communication, negotiation, marketing, creativity and
importantly an ability to read both the market and how interested are the potential buyers.
Mark & Adriana Ferguson
Eva, Rose & Les Rechnitzer/Sardi
12-14 Brighton Boulevard
North Bondi
NSW 2026
Robert Paridis & Robert Stein-Rostaing
LJ Hooker Bondi Junction
42 Spring Street
Bondi Junction
NSW 2022
3rd February, 2015
RE: Sale of 12-14 Brighton Boulevard, block of Units
Dear Robert P and Robert S, Mum, myself and brother Les would just like to say a big THANK you to you both and the team at LJ Hooker Bondi Junction for the amount of work and effort you all put into the sale of our family building at 12-14 Brighton Blvde, North Bondi. We had tried with other local agents to achieve the price we wanted for our building which we owned and lived in for the past 45 years. Your hard work on our behalf has paid off with a great marketing campaign, video and even stories in the press, beyond what we paid for and expected. We've now all moved on to our dream homes and could not have done this without you. We will certainly recommend you for both sales and property leasing to the rest of our family and friends. "Thank you Mr Hooker". Kind regards, Eva, Les and Rose (Rechnitzer / Sardi)
Recent Sales
All information contained therein is gathered from relevant third party sources. We cannot guarantee or give any warranty about the information provided. Interested parties must rely solely on their own enquiries. Residential | Commercial | Rural | Finance
RANDWICK5 4
For Sale $2,575,000
View Saturdays 12:00PM - 12:45PM
Contact Robert Paridis 0412 250 075
Robert Stein-Rostaing 0451 443 052
ljhooker.com/A0HD1
02 8383 1900Paridis Real Estate PTY LTD
LJ Hooker Bondi Junction
2
Magnificent Dream Family Home
34 Dolphin Street
On one of the most sought-after yet private andpeaceful streets in Coogee and Randwick, lies thismagnificent and deceptively spacious 5 bedroomdream home. The truly massive master bedroomhas an en-suite spa bathroom with shower, a walk-inrobe, parent's retreat and an 8m wide balcony. Fromhere parents can look down on their generousgarden and out to the fully independent cottage idealfor family, guests, au pair, extra income or extensivework space. In fact each room offers somethingdifferent. This is an Aladdin's Cave crossed with aTardis. There is:- King-sized guest bedroom with en-suite- Children's double bedroom & playroom- Student or teenager bedroom- Modern gas kitchen with island- Glass conservatory dining extension- Polished floorboards and designer marble features- Covered patio, ideal for al fresco dining- Sun-filled North-facing garden and grass lawn
All information contained therein is gathered from relevant third party sources. We cannot guarantee or give any warranty about the information provided. Interested parties must rely solely on their own enquiries. Residential | Commercial | Rural | Finance
BONDI JUNCTION- 1
For Sale On Application
View By Appointment
Contact Robert Stein-Rostaing 0451 443 052
ljhooker.com/B9HD1
02 8383 1900Paridis Real Estate PTY LTD
LJ Hooker Bondi Junction
-
Top Floor high yield Studio with District Views
804/79-85 Oxford Street
This 30sqm studio apartment is a great investmentproperty currently achieving a 6% yield but it'sequally a great opportunity for a first time buyer toget on the property ladder. Renovated two yearsago, it's location in the heart of Bondi Junction issecond to none, moments walk from Bondi Junctiontrain and bus stations as well as the Westfieldshopping precinct.
All information contained therein is gathered from relevant third party sources. We cannot guarantee or give any warranty about the information provided. Interested parties must rely solely on their own enquiries. Residential | Commercial | Rural | Finance
PADDINGTON3 2.5
Auction 27th October 2014 at 6:00PM
Venue Double Bay Auction Centre
View Sat & Thu 11:00AM - 11:45AM
Contact Robert Paridis 0412 250 075
Robert Stein-Rostaing 0451 443 052
ljhooker.com/88HD1
02 8383 1900Paridis Real Estate PTY LTD
LJ Hooker Bondi Junction
-
Unique Freestanding Home in Paddington
5 Dudley Street
Nestled in a cul-de-sac known locally asPaddington's Secret Street, this stunning standoutproperty boasts all the flexible living optionsassociated with a cleverly designed new build.Although just seconds walk from William Street'shigh end boutiques, playground parks, cafes andiconic taverns it maintains a special quiet and safefeel that is very rare today. Local residents boast oftheir enjoyment of living here with their kids playingin the street and a community feel that defiesmodernisation trends. This contemporary yet totallyunique home is well-suited for a young family, aprofessional couple, a savvy investor and down-sizers alike. There are countless possibilities tomake the home your own. Whenever it rents, it rentsfast and people never want to leave. This is a'must-see' property.- All 3 Large Bedrooms with Built-ins, main withBalcony- Central Courtyard leading to 3rd double Bedroom
All information contained therein is gathered from relevant third party sources. We cannot guarantee or give any warranty about the information provided. Interested parties must rely solely on their own enquiries. Residential | Commercial | Rural | Finance
NORTH BONDI18 9
Auction 26th November 2014 at 6:00PM
Venue Woollahara Golf Club
View Saturdays 1:00PM - 2:00PM
Contact Robert Paridis 0412 250 075
Robert Stein-Rostaing 0451 443 052
ljhooker.com/8JHD1
02 8383 1900Paridis Real Estate PTY LTD
LJ Hooker Bondi Junction
9
A Rare Offering, Whole Block of Apartments In
12-14 Brighton Boulevard
An exceptional investment opportunity is on offer inthis premium blue-ribbon beachside setting. Firsttime offered since it was built in 1970s, thisimmaculately maintained building which wasoriginally a block of 9 has been converted into 7unique apartments.
Currently set up as 5 x 2 bedrooms and 2 x 4.5bedrooms, it can be easily converted to its formerblock of 9 configuration. Also offers 9 lock upgarages plus extra visitor parking and stunning 180degree ocean & district views from the top floorpenthouse apartment.
Located in one of North Bondi's most sought afterpockets, it's a brief walk to cafes, restaurants, localgrocer, transport, Bondi beach & coastal treks.
Capital gains assured for the astute investor! (Enterinto Brighton Blvd via Campbell Parade)
All information contained therein is gathered from relevant third party sources. We cannot guarantee or give any warranty about the information provided. Interested parties must rely solely on their own enquiries. Residential | Commercial | Rural | Finance
BELLEVUE HILL2 1
Auction 27th October 2014 at 6:00PM
Venue Double Bay Auction Centre
View Thu 10-10.45AM & Sat 1-1:45PM
Contact Robert Paridis 0412 250 075
Robert Stein-Rostaing 0451 443 052
ljhooker.com/8CHD1
02 8383 1900Paridis Real Estate PTY LTD
LJ Hooker Bondi Junction
1
84m² 2-Bed Apartment w/ Balcony & LUG
9/76 Birriga Road
This delightful and spacious Art Deco apartmentoffers many opportunities to a smart investor. As itstands, it is a great return on investment and adream residence for existing tenants; with a well-designed DA approved by both Council and Strata, itcan be so much more. This just has to be seen.- Master Bedroom with Built-in Wardrobes- Polished Timber Floorboards throughout- Bi-fold doors lead to a 12m² Sun-filled Balcony- Ideal Investment Opportunity with fully approvedDA- Spacious Lounge/Dining Area & Stunning Kitchen- Long and Bright Office/Sunroom & InternalLaundry- Lockup Garage with plenty of extra Storage
Strata Levies: $847.05PQ Council Rates: $283PQWater Rates: $180.40PQ
All information contained therein is gathered from relevant third party sources. We cannot guarantee or give any warranty about the information provided. Interested parties must rely solely on their own enquiries. Residential | Commercial | Rural | Finance
BONDI5 3
For Sale Forthcoming auction if not SOLD prior
View Thu & Sat 2:00PM - 2:45PM
Contact Robert Paridis 0412 250 075
ljhooker.com/6PHD1
02 8383 1900Paridis Real Estate PTY LTD
LJ Hooker Bondi Junction
2
Rare ocean view home only metres from Bondi
2-4 Sandridge Street
Commanding a spectacular vista acrossuninterrupted ocean waters, this freestanding familyhome spans three levels of coastal chic, completewith a selection of sun-filled indoor/outdoorentertaining spaces and a versatile layout formodern family life. This prized 266sqm approxparcel enjoys a sun-drenched north/easterly aspect,neighbouring onto Hunter Park and popular coastalwalks.
Bathed in abundant natural light and a fresh whitecolour scheme, the open plan living and diningareas merge effortlessly onto a wraparoundTravertine terrace perfectly positioned to soak in thesweeping ocean and parkland views. A tastefullyupdated kitchen boasts timber benchtops andquality appliances that keep in perfect harmony withthe rest of the house. There are multiple outdoorentertaining spaces, including a large ground levelterrace that leads to a wonderfully private garden
All information contained therein is gathered from relevant third party sources. We cannot guarantee or give any warranty about the information provided. Interested parties must rely solely on their own enquiries. Residential | Commercial | Rural | Finance
NORTH BONDI2 1
For Sale Expressions of Interest
View Thu 5.30PM - 6.15PM & Sat 12:45PM - 1:30PM
Contact Robert Paridis 0412 250 075
Simon Zaglas 0425 316 881
ljhooker.com/8THD1
02 8383 1900Paridis Real Estate PTY LTD
LJ Hooker Bondi Junction
2
Rare hidden Gem PETS ALLOWED (Entrance Via
2/337 Old South Head Road
Positioned at the rear of the building makes this welllaid out unit suprisingly Quite. Conveniently locateda short stroll from the famous Bondi Beach, this airysun filled apartment with NO common walls enjoystranquillity and privacy,entry is via Simpson Street)Set in a security building, the apartment features 2bedrooms, both with mirrored built-ins a privatebalcony off each, renovated bathroom, open planliving and dining which flows onto an sun drenchedentertainers balcony.
The apartment also features a fully equippedspacious kitchen, internal laundry, floorboardsthroughout and two undercover parking spots. Nextto Barracluff Park and surrounded by shops, andwith easy access to Bondi Junction and BondiBeach, this apartment makes the perfect home foranyone looking for the desirable beach lifestyle whilestill maintaining privacy peace and quiet.
All information contained therein is gathered from relevant third party sources. We cannot guarantee or give any warranty about the information provided. Interested parties must rely solely on their own enquiries. Residential | Commercial | Rural | Finance
NORTH BONDI2 1
Auction 8th December 2014 at 6:00PM
Venue Double Bay Auction Centre
View Thu & Sat 11:00AM - 11:45AM
Contact Robert Paridis 0412 250 075
Simon Zaglas 0425 316 881
ljhooker.com/97HD1
02 8383 1900Paridis Real Estate PTY LTD
LJ Hooker Bondi Junction
-
Direct Access to Common Courtyard and BBQ
3/62 Blair Street
Conveniently located a short stroll from the famousBondi Beach, this airy sun filled apartment enjoystranquillity and privacy as it is located at the rear ofthe block. Set in a security building, the apartmentfeatures 2 bedrooms both with built-ins your ownspacious balcony leads off both the main bedroomand lounge leading to the spacious common court-yard and BBQ area.
The apartment also features polished floorboards, afully equipped spacious kitchen, good bathroom,open plan living dining area, internal laundry andyour own storage area. Surrounded by shops andwith easy access to Bondi Junction and BondiBeach, this apartment makes the perfect home foranyone looking for the desirable beach lifestyle whilestill maintaining privacy peace and quiet.
Strata Levis: $829.40PQ Council Rates: $262.65PQWater Rates:$180.40PQ
What happens next
We decide on…
• Method of sale
• Time frame
• Marketing plan
• Contract of sale and the appointment of your conveyancer
• Open for inspection frequency
• How best to present your property for sale
• Agency agreement
What happens next
February 2014 FTR32
Agency agreementsfor the sale of residential property
FACT SHEET
www.fairtrading.nsw.gov.au www.reinsw.com.au
Selling a home is something many people do only once or twice in a lifetime, so it pays to do some homework before signing up with an agent to sell your property for you.When you sign up with an agent, you enter into a legally binding contract. This fact sheet explains what your rights and responsibilities are under that contract.You have a cooling-off period of 1 day starting from when you sign the agreement. You can cancel the agreement in this time if you are not happy with it (more information over the page).
Choosing a real estate agentTo sell a home in New South Wales, an agent must have a real estate agent’s licence issued by NSW Fair Trading. You should check the licence details of all agents you are thinking of using before signing up with your preferred choice. You can do a licence check online through the Fair Trading website or by calling 13 32 20.
To find the right agent for your needs, you should shop around. If possible, get the names of one or two agents from other home owners in your area who have recently sold. We suggest you talk to at least three agents and:
y make sure they have a valid licence y get a list of all their fees y find out if they have a good knowledge of your area y ask if they adhere to a code of ethics.
Signing up with an agentBefore the agent can market your property, they must sign a contract with you, called an ‘agency agreement’. An agency agreement is a legally binding contract and it is important that you read and understand it.
If you are not sure about the agreement terms you should get legal advice.
Signing an agency agreement means that you authorise an agent to do certain things for you in relation to the
sale of your property, such as arranging advertising and inspections and receiving deposits from buyers. The agreement must specify what the agent is authorised to do for you and must state all commissions and any other costs you may be liable to pay.
What is in the agency agreementThe agency agreement must state:
y the services the agent will provide for you y the amounts of any fees or commission you agree to
pay for those services y the circumstances in which the agent is entitled
to payment – for example, commission is usually payable only when the property is sold
y how and when payment is to be made – for example, whether the agent can deduct their commission from the deposit money paid by the buyer
y warnings about circumstances in which you might have to pay commission to more than one agent (see information on page 2 about the different types of agency agreement)
y the extent of the agent’s authority to act for you – for example, whether the agent is permitted to exchange a sale contract on your behalf or make changes to the sale contract
y the agent’s estimated selling price or price range for the property.
You have the right to negotiate with the agent about the terms and conditions of the agreement and to ask for any legally permitted changes to be made. Alterations made to the agreement need to be signed by all parties.
Commission, fees and expensesThe amounts charged by agents are not set by law. You can negotiate with the agent about the amounts of any commissions, fees or other expenses that you may be required to pay. Before signing an agreement, it is a good idea to talk to a few agents and compare their prices. Ask
February 2014 FTR32FACT SHEET
www.fairtrading.nsw.gov.au www.reinsw.com.au
each agent for a printed list of their fees and commission rates and the expenses they charge.
Disclosure of rebates and discountsThe agency agreement may require you to pay the agent for certain expenses in relation to the sale of your home, such as advertising, auctioneer’s fee, or any other services the agent may arrange for you, such as cleaning, decorating or landscaping.Sometimes the amount the agent has to pay for the service is less than what you are being asked to pay. This can occur if the agent receives a commission or discount from the provider of the service for being a regular customer – for example, some newspapers pay a commission to the agency at the end of the year based on how much advertising was placed.The agency agreement must state the amounts or estimated amounts of any such commissions or discounts and from whom they are received. You can negotiate with the agent about whether you should pay the full amount.
Ending the agreementThe agency agreement usually has a specified period (a ‘fixed term’) during which the agreement cannot be ended unless you and the agent both agree. If the agreement is open ended (that is, it does not have a fixed term) it must state how the agreement can be ended.The length of any fixed term is negotiated between you and the agent, there is no minimum or maximum set term. The fixed term will depend on how long you and the agent think it will take to sell the property.If the fixed term is longer than 90 days, you can give the agent 30 days written notice to end the agreement after 90 days. Of course, if the fixed term has less than 30 days left to run, you can just give notice to end the agreement at the end of the fixed term – check your agreement to see how much notice you need to give. If you are not sure how to end the agreement, you should seek legal advice.
If you are not happy with an agent’s services, it is important to properly end your agreement with them before signing up with another agent. Otherwise both agents may charge you commission when the property is sold.
Types of agency agreementsThere are several different kinds of agency agreements for the sale of residential property. It is important to be aware of the kind of agreement you sign, because it affects your rights and the amount of commission you may have to pay. You should discuss the agreement with a legal adviser if you are not sure about your rights. The following is an overview of the different types of agreements.
Exclusive agency agreementsExclusive agency agreements are commonly used for the sale of residential property. In this kind of agreement, you give exclusive rights to one agent to sell your property. This may entitle the agent to be paid commission if the property is sold during the fixed term of the agreement, even if the property is sold by you or by another agent. The agent may also be entitled to commission if the property later sells to a person who started negotiating for the property with the original agent.
Sole agency agreementsThis is similar to an exclusive agency agreement. You give rights to one agent to sell the property but you may find a buyer yourself. If you find a buyer who has not been introduced by the agent, then no commission is payable to the agent.
General listing / Open agency agreementThis lets you list your property with a number of agents. You pay a commission to the agent who finds the buyer.
Multiple listingThis occurs when you deal with an agent who is part of a network of agents working together to sell your home. It covers both auction and private treaty. You pay a commission to the agent you signed up with.
February 2014 FTR32FACT SHEET
www.fairtrading.nsw.gov.au www.reinsw.com.au
Auction agency agreementThis is effectively an exclusive agency agreement where the property is listed for auction.
Cooling-off periodThe agency agreement becomes binding when the principal (that is, you as the owner/s of the property, or someone who is legally acting for you) and the agent have signed it. There is then a cooling-off period of 1 business day during which you can cancel (or ‘rescind’) the agreement. Saturday is included for the purposes of the cooling-off period, but public holidays are not.The cooling-off period starts when you sign the agreement and ends at 5pm on the next business day or Saturday. For example, if you sign the agreement on a Friday, the cooling-off period ends at 5pm on Saturday. If you sign up on Saturday, the cooling-off period would usually end at 5pm on Monday, unless that is a public holiday, in which case it will end at 5pm on Tuesday.The cooling-off period gives you time to read the agreement, consider the terms you have agreed to, including the agent’s fees, and get independent advice if you have concerns about any aspect of the agreement. Talk to the agent – they may be willing to change things in the agreement that you are not happy about.
Cancelling the agreement during the cooling- off periodIf you decide to cancel (or ‘rescind’) the agreement during the cooling-off period, you need to deliver a ‘notice of rescission’ to the agent.This simply means giving the agent a written notice or letter which:
y is addressed to the agent (use their name as given in the agency agreement),
y states that you are rescinding the agreement, and y is signed by you (and any other person named on the
agreement as a principal) or by your solicitor/s.You can hand the notice to the agent in person, deliver it to or leave it at the agent’s office or the agent’s address
as given in the agency agreement, or fax it to the agent. Make sure to keep a copy for your records.The agent cannot charge you any fees or costs in relation to an agreement that has been rescinded correctly. Any money you have already paid to the agent must be refunded to you.
Waiving your cooling-off rightsIf you are sure that you wish to go ahead with the agency agreement, you can waive, or forego, your right to a cooling-off period by signing a separate waiver form when you sign the agreement.The cooling-off period can be waived only if the agent gave you the following documents at least 1 business day before you signed the agency agreement:
y a copy of the proposed (unsigned) agency agreement, and
y a copy of this fact sheet.For example, on Thursday morning the agent gives you a copy of the unsigned agreement and this fact sheet, which you read and consider carefully. On Friday afternoon you sign the agency agreement and the waiver form. The agency agreement immediately becomes binding and the agent can get to work on selling your home.
The Contract of SaleA residential property cannot be advertised for sale until a Contract of Sale has been prepared. The contract must contain a copy of the title documents, drainage diagram and the Zoning Certificate (s 149) issued by the local council. Property exclusions must also be included and a statement of the buyer’s cooling-off rights must be attached. The draft contract must be available for inspection at the agent’s office. It is important that you consult your solicitor or conveyancer about preparing the contract to make sure that everything is in order.
February 2014 FTR32FACT SHEET
www.fairtrading.nsw.gov.au www.reinsw.com.au
www.fairtrading.nsw.gov.auFair Trading enquiries 13 32 20TTY 1300 723 404Language assistance 13 14 50
© State of New South Wales through NSW Fair Trading.You may freely copy, distribute, display or download this information with some important restrictions. See NSW Fair Trading’s copyright policy at www.fairtrading.nsw.gov.au or email [email protected]
This fact sheet must not be relied on as legal advice. For more information about this topic, refer to the appropriate legislation.
Exchange of contractsThe contract exchange is a critical point in the sale process:
y The buyer or seller is not legally bound until signed copies of the contract are exchanged.
y Buyers of residential property usually have a cooling-off period of 5 working days following the exchange of contracts during which they can withdraw from the sale.
y If the agent arranges exchange of contracts, the agent must give copies of the signed contract to each party or their solicitor or conveyancer within 2 business days.
y The cooling-off period can be waived, reduced or extended by negotiation.
y There is no cooling-off period for sellers. Once contracts have been exchanged, sellers are generally bound to complete the agreement.
y There is no cooling-off period when purchasing at auction.
If you encounter problemsIf an issue arises during the sale process that you are unhappy with, check your copy of the selling agency agreement to clarify your rights and obligations.Try to sort out the problem by talking to the agent.Make certain that any instructions you give the agent are in writing, and keep a copy. If you think the agent has charged a fee to which they are not entitled, or believe the fee charged is excessive, you can apply to the NSW Civil and Administrative Tribunal (NCAT) to settle the matter.
Other tipsIf you need further assistance to resolve a problem, consider the following:
y If your agent is a member of a professional association, contact that association. They can be helpful in resolving disputes.
y You can also seek legal advice from a solicitor or the Chamber Magistrate at your nearest Local Court.
y If your complaint concerns your solicitor, you can lodge a complaint with the Office of the Legal Services Commissioner.
y If your complaint concerns your conveyancer, you can lodge a complaint with NSW Fair Trading.
More informationNSW Fair Trading can give you more information about the laws applying to property sales and agents. Contact Fair Trading on 13 32 20 or visit the Fair Trading website.
Thank you for the opportunity.
86 years, 700 offices, 6,500 people, 8 countries, 1 great brand.
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bondijunction.ljhooker.com.au
02 8383 1900
42 Spring Street BONDI JUNCTION2022
LJ Hooker Bondi Junction