Our fixed fee
Our costs structure is quite different, we charge on the basis of services provided, rather than a
commission
triggered by a sale.
The result is a pressure-free sale with no
conflicting interests
and lower costs.
Our fixed fee
We charge a fixed fee of $4,400 (incl. GST) for the services we provide for a standard real estate sale over a period of three months.
Our fee also covers the cost of signage, document preparation and internet advertising for the property (for full
details of what our fee includes, see "
What is Included" below).
Why is our fee so low?
It is all a matter of our costs structure. While an estate agent
charges an open-ended commission that is payable in the event of a sale, we charge a fixed fee on the basis of the services we provide. Even though we provide more services than an
estate agent can, and the quality of our service exceeds those of estate agents, we are able to pass on savings (particularly those savings resulting from our investment in technology) to consumers.
While percentage-based commissions will only ever increase over time, the costs and overheads associated with real estate sales have actually decreased through the application of technology, particularly the internet.
[Further information - see "Estate Agents - Commission Mentality Explained"]
When is our fee payable?
You will be liable for the costs of our services as each stage of the transaction is completed. You will be invoiced for the first half of our fee when we have prepared your sale documents and set up your sale campaign. You will be invoiced for the second half of our fee after your sale, with payment made by way of a cheque drawn at settlement.
If the property is taken off the market, you will be charged for the services provided up to that point.
Where a property is taken off the market we cap our fees (see "What if the sale is cancelled?" below).
What is included?
The normal requirements for the sale of any residential property are included
in our sale package:
| 1. |
Preliminary legal advice on all aspects of pre-sale disclosure, sale procedure, contract matters, conveyancing and general legal matters relating to real estate. |
| 2. |
Advice and guidance on the law relating to advertising (misleading and deceptive conduct etc.). |
| 3. |
High quality digital photographs provided by an independent, professional real estate photographer. And on-going legal advice as to appropriate use of images and descriptions according to the law. |
| 4. |
Photography and selection of photographs for use on the internet and display card. Digital images available to the client upon request. |
| 5. |
Professional installation and removal of the "For Sale" sign at the property by fully insured contractors. |
| 6. |
Use of our online purchaser bidding facility www.SLOD.com.au. |
| 7. |
Hand-outs for prospective purchasers, to inform them about our sale procedure. |
| 8. |
Listing of property on www.realestate.com.au and www.domain.com.au |
| 9. |
Upgrading of internet listing to high-profile "Feature Listing". |
| 10. |
Preparation and uploading of internet listing. |
| 11. |
Preparation of digital disclosure documents for downloading from internet. |
| 12. |
Uploading and maintenance of PDF digital disclosure documents on the www.SLOD.com.au website for internet access by prospective purchasers. |
| 13. |
Legal advice on pre-sale disclosure obligations, and advice as to the appropriate inclusions in the disclosure documents. |
| 14. |
Legal advice on bids and offers received from potential purchasers. |
| 15. |
Legal advice as to appropriate special conditions for inclusion in sale arrangements to protect vendor's interests. |
| 16. |
Communicating with potential purchasers and/or their legal advisers and providing legal advice in relation to matters communicated. |
| 17. |
Negotiation of sale by an experienced and legally qualified lawyer; including price and contract conditions, and consideration of any
special conditions that may be required. |
| 18. |
Formal execution of Contract of Sale of Real Estate, including drafting of any special
terms or conditions. |
| 19. |
Collection and holding in trust of deposit funds. |
| 20. |
Advice as to vendor's rights and obligation regarding deposit funds. |
| 21. |
Service of formal request on mortgagee pursuant to the Consumer Credit Code for mortgage payout details in preparation for settlement. |
| 22. |
Arranging for the discharge of any existing mortgages or caveats over
the property. |
| 23. |
All conveyancing work (including disbursements) and legal work associated
with the sale. |
| 24. |
Includes the first Owners Corporation Certificate if the property is a unit with a body corporate (any additional Owners Corporation Certificates are at vendor's cost). |
| 25. |
Confirmation of mortgagee payout details to ensure delivery of title at settlement. |
| 26. |
Finalisation and completion of the sale transaction on settlement day, and collection of the balance of sale funds. |
| 27. |
Delivery to client of the balance of sale funds. |
| 28. |
Notification of rating authorities of change of ownership. |
Are there any time limits?
You can cancel at any time.
You will not be bound to us for any period of time, and you can terminate our retainer at any time (however, you will remain liable for the payment of costs incurred up to the time of termination).
The sale campaign is reviewed after 3 months.
Your sale campaign can run indefinitely if you wish, however, our retainer provides that it may be ended by either party after a period of three months.
Disclosure documents are usually regarded as valid for a period of three months, after which they should be reviewed and perhaps
updated (fresh certificates and searches may have to be purchased).
It is necessary to review and monitor the progress of a sale, and to determine its viability in changing market conditions You may wish to consult your valuer if the property hasn't sold after 3 months.
What if the sale is cancelled?
We understand that circumstances can change, and that a vendor may decide not to proceed with a sale. Where a sale is cancelled, our
fee will be capped at
$2,200 (incl GST).
The capped fee covers our legal services up to the time of cancellation, including the
costs associated with signage, internet listing set-up, legal advice and
assistance, preparation of the
disclosure documents and handling of enquiries and any
negotiations, to the date of cancellation.
Because we do not use any form of
exclusive sale authority,
you are not bound to us for any set period of time.
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