PRD Real Estate Wagga Wagga prdwagga.com.au | 02 6923 3555
m 0449 592 211 t 02 6923 3555 e ryansmith@prdwagga.com.au 53 Fitzmaurice Street Wagga Wagga, NSW, 2650 prdwagga.com.au
Ryan Smith entered the world of real estate when he was ‘hand picked’. Clearly he was an ideal candidate from the very beginning with a personality and presence that were identified as a natural fit for the industry. Never looking back since entering the real estate market, the only change in his career to date, has been moving back to Wagga Wagga. Home is where the heart is, and his heart is for the Wagga region – his hometown. Back where he now belongs, Ryan is a local agent at the top of his game, he’s instantly engaging and demonstrates qualities that can be described as personable, genuine and respectful. His transparent nature and thorough knowledge of the local market and beyond, makes working with Ryan an experience of complete knowing and trust. His driven and energetic vibe highlights the incredible and contagious passion for being a sales agent. Communication is key for all parties involved in the sales process, Ryan’s innate ability when it comes to organisation and follow up will have you feeling at complete ease for the duration of the process.
Chat with Ryan today,
Ryan Smith Licensed Sales Agent PRD Real Estate Wagga
prdwagga.com.au | 02 6923 3555
You will be updated and know exactly where things are up to at any given time. Working with Ryan also enables you to leverage off the team structure of PRD Wagga where collaboration is a top priority for all agents. Days on the market become shorter because he has access to the connections of the entire team and in turn greater exposure for your property. As President of the Henwood Park Football Club, Ryan’s kind and giving nature can be witnessed every single weekend (after his open homes of course) and on training nights, as he co-ordinates the club’s competition week in, week out. When not working, he is either training or giving his time to the club. If time permits in Ryan’s busy schedule, he might try and sneak a quick trip to Melbourne to see his AFL team St Kilda live in action. If you’re considering an agent, you can consider Ryan with absolute confidence. Previous clients have described Ryan as, professional, prompt and an expert in communication and delivering results. Without a doubt, Ryan will provide you with a polite and guided process that is seamless and stress free.
Your local experts. PRD Real Estate Wagga Wagga has been servicing the realestate and property needs of Wagga and surrounds for over 25 years. We are an award winning office dedicated to our clients in both sales, property management and commercial realestate. We, at PRD Wagga Wagga hold the responsibility of looking after what is normally our clients greatest asset in the highest regard and continually work towards providing the ultimate realestate service. Although we are proud of the results our team has achieved, our most important goal is to constantly exceed the benchmarks we have established in the industry. With a business philosophy aimed squarely at customer service, innovative marketing and superior results, we look forward to the opportunity of proving our commitment and expertise in creating the best possible result for you.
Why rely on any agent,
When you can have the best? Not all realestate agents are equal. At PRD, our agents are carefully selected, expertly trained and constantly honing their skills. Their passion, enthusiasm and results are unparalleled in the industry. Our team has an unashamed commitment for doing the very best within every aspect of the real estate journey, not simply just achieving a sale. Property is what we do all day, every day, and that is what matters the most to our clients.
Real estate advice – to assist you.
Your sales team.
Simon Freemantle - Principal As the Principal of PRD Real Estate Wagga Wagga, Simon Freemantle is driven by the desire to provide a ‘5 star’ real estate service that others will want to emulate. Known for his expertise and ethical approach to business, Simon is a licensed Agent and qualified Auctioneer who has worked in every sector of the real estate industry – he knows his stuff!
Ryan Smith Ryan is a local agent at the top of his game, he’s instantly engaging and demonstrates qualities that can be described as personable, genuine and respectful. His transparent nature and thorough knowledge of the local market and beyond, makes working with Ryan an experience of complete knowing and trust. His driven and energetic vibe highlights the incredible and contagious passion for being a sales agent.
Lily McPherson - Personal Assistant to Ryan Smith Lily commenced at PRD in 2015 and is now a fully licensed agent. Lily enjoys working with a team who inspire and motivate her to achieve bigger and better things. Lily has been Ryan’s right-hand woman for over 12 months and is a whizz at making sure everything runs as smooth as possible. Their sales and work ethic is second to none. Working as part of a team, or an individual Lily is always someone you can call on in the office to complete almost any job. Newly married, Lily enjoys pottering around her house, entertaining her energetic puppies and a good Netflix session.
prdwagga.com.au | 02 6923 3555
Luke Gerhardy Luke’s ambition is evident from your first interaction, he enjoys the fast paced environment of what real estate offers, he is passionate, driven with a no B S straight down the line approach to achieve the right results every time. A country boy at heart, Luke infuses his cross section of real estate experience and honed customer service skills courtesy of the Wagga Wagga pub scene, with his natural ability to work confidently with all clients whether tenants, landlords, buyers or sellers alike. Luke enjoys being part of an innovative and dynamic sales duo with Ryan and is continually striving to enhance the selling experience with PRD Real Estate Wagga Wagga. You can be sound in your decision in having Luke assist with your property needs, he has all the ingredients to instil the confidence to trust him with your assets and investments now and in the future.
Michelle Wilcox Michelle Wilcox brings a fresh, energetic approach to her role as Sales Consultant with PRD Real Estate Wagga Wagga. Michelle’s business and communication skills are complimented by extensive sales experience, she enjoys being involved with a product she is genuinely interested in. She loves dealing with people and working with them to achieve a successful outcome.
Mark Steel Mark commenced in the Real Estate in 1987. Since that time he has experienced the highs and lows of all aspects of the industry from residential sales, residential management and commercial/ industrial sales and management. Over the years Mark has developed an insight into the important role he can play in helping people at every stage of their lives.
Mark Kennedy Mark is the cities longest serving Real Estate Agent having started in the industry in 1974, a period of 44 years. Over this period of time he has been actively involved in residential real estate sales, project management, land sales and subdivisions. One of Wagga’s best known agents Mark has also be closely involved with sporting and community organisations at the highest level.
Real estate advice – to assist you.
Your sales team. cont.
Amanda Tilyard Amanda brings a strong local connection through her role in sales with almost two decades experience in the Wagga property market, she provides a friendly and approachable service to all PRD clients. Honesty is what you’ll get with Amanda, along with open communication – a must in the real estate game – dedicated to getting the best deal for PRD clients.
Harry Magelsdorf - Developing Agent Harry joined the PRD team in 2019 starting on the front counter and his communication skills come naturally. Harry moved on to enrol in a real estate certificate and has almost completed his studies while working along Amanda as her personal assistant. Keeping him on his toes and in check Amanda pushes Harry to be the best agent he can be. Harry doesn’t pass up a morning tea with vendors and loves entertaining his work mates with a laugh and a joke. You might see Harry gigging around town in his acoustic duo ‘Harry & Tom’, singing in the Kapooka Army Band and is always our staff Christmas party singer.
prdwagga.com.au | 02 6923 3555
Your marketing team. Here at PRD Real Estate, we are the only agency with a full in-house marketing team. We will take professional photographs, produce a video and market your property in print and on-line.
Mikkali Rowe Mikkali’s photography skills give PRD the edge when it comes to showcasing your property. Mikkali has a Bachelor’s Degree of Creative Arts and Design majoring in Photography and Graphic Design.
Katrina Chambers Katrina will make sure as many eyes as possible land on your biggest as set. With a Degree in Advertising and Marketing, a passion for interior design and a knack for knowing how to use social media to promote your property, you’ll be sure Katrina will be working away to generating more leads and target those qualified buyers .
Tom Griffith Tom is a multifaceted creative designer with industry experience in videography and graphic design. He has a double degree in design and a post-grad dip in applied digital marketing.
Real estate advice – to assist you.
What about stamp duty? Stamp duty is a State Government Tax payable by the purchasers of real estate in NSW based upon the purchase price. The duty is payable to the Office of State Revenue. Some first home buyers may be eligible for a concession on stamp duty. The following table is a guideline of stamp duty costs.
Price of property ($AU)
Stamp duty ($AU)
Price of property ($AU)
Stamp duty ($AU)
Price of property ($AU)
Stamp duty ($AU)
$80,000
$1,290
260,000
$7,590
$440,000
$15,290
$90,000
$1,640
$270,000
$7,940
$450,000
$15,740
$100,000
$1,990
$280,000
$8,290
$460,000
$16,190
$110,000
$2,340
$290,000
$8,640
$470,000
$16,640
$120,000
$2,690
$300,000
$8,990
$480,000
$17,090
$130,000
$3,040
$310,000
$9,440
$490,000
$17,540
$140,000
$3,390
$320,000
$9,890
$500,000
$17,990
$150,000
$3,740
$330,000
$10,340
$550,000
$20,340
$160,000
$4,090
$340,000
$10,790
$600,000
$22,490
$170,000
$4,440
$350,000
$11,240
$650,000
$24,740
$180,000
$4,790
$360,000
$11,690
$700,000
$26,990
$190,000
$5,140
$370,000
$12,140
$750,000
$29,240
$200,000
$5,490
$380,000
$12,590
$800,000
$31,490
$210,000
$5,840
$390,000
$13,040
$850,000
$33,740
$220,000
$6,190
$400,000
$13,490
$900,000
$35,990
$230,000
$6,540
$410,000
$13,940
$950,000
$38,240
$240,000
$6,890
$420,000
$14,390
$1,000,000
$250,000
$7,240
$430,000
$14,840
$40,490 + $5.50 for every $100 or part thereof, thereafter
The above information has been provided by our Principal and thirds parties, and while it is believed by us that the information is accurate and reliable, we give no warranty as to the accuracy or otherwise of the information and accept no liability for any losses or damages arising out of or in any way related to the use of the information. You must rely on your own enquiries as to the accuracy.
prdwagga.com.au | 02 6923 3555
Have you thought about
styling?
Property styling can boost the sale of your home by up to 12%. This is a huge return on investment when you consider the relatively small costs of property styling. Many end up reducing their listed price (and often quite substantially) in order to prompt a sale. Instead of slashing thousands from your listing, property styling is a clever investment that can help boost the financial appeal of your home. 90% of buyers can’t visualize the potential of an empty or cluttered home. Most potential buyers are unable to visualise the potential of an empty space, which holds them back from forming any kind of emotional connection with the home. Buyers like to see and understand how each room of the house could be used, how their furniture could fit into the space and what kind of floor plan works best - they want to be able to imagine themselves living there.
Only the best real estate agents recommend property styling services. When agents start seeing results, they are always going to recommend it!
What are the main benefits of property styling? Higher price point: a professionally styled and well-presented home is more appealing to potential buyers and it justifies a higher price point. Quicker sales: Property styling greatly increases the appeal of any home to attract more potential buyers, which consequently encourages a faster sale. Instead of 60 days on market, you’ll be looking at 20 or less. Better photos: A professionally styled home presents much better in photos online and sets your property apart in a competitive market. Styling gives us more content. - With a styled property, it gives PRD more social content to work with (and this is all for free!) - More Facebook videos - More Instagram story videos - Use agents to have some fun walking through the property and showcasing it - Use of styled images in our newsletter and branding
Real estate advice – to assist you.
Steps to selling your home. Selling a home is a complex procedure. Whether it’s your first time, or you’re an experienced buyer, it’s very easy to forget things and to feel overwhelmed. Whilst we are always available to answer any questions you may have, the following “event road map” should help keep you on track Stage 1 - Prior to listing - select an agent - sign an agency agreement with your chosen agent - arrange a contract for sale through your solicitor or conveyancer Stage 2 - Listing your property - agent prepares marketing campaign and advertising materials - agent receives a copy of your sale contract from your solicitor or conveyancer - prepare your house for buyer inspection - agent conducts buyer inspections and open houses - agent negotiates a sale price to your satisfaction Stage 3 - Accepting your offer - offer is accepted - exchanging contracts Stage 4 - Settlement - pre-settlement inspection arranged - settlement occurs - handover of keys - settlement funds distributed
Preparing your home for sale. To ensure you are guaranteed to achieve premium price and peace of mind it is essential that your house be suitably presented or you may miss out on crucial buyers. Trim the lawns and tidy the garden. This will be a prospective buyer’s first impression of your home. Make it a good one. Shampoo the carpets. You may be surprised at how much more “life” they have after a good cleaning. The brighter everything is the better for selling. A once over for the walls. Grubby little hand marks may be an unpleasant fact but they’re some of the worst offenders in taking the edge off an otherwise attractive home. You will be rewarded! Check the guttering. It’s an easy point for buyers to spot so one to watch out for. Make sure there are no leaves hanging over the edge, no peeling paint, or water stains. In addition, while you’re at it why not brush under the eaves for cobwebs? Clean windows and insect screens to let in more light.
prdwagga.com.au | 02 6923 3555
Open the windows. The brighter the rooms the better, so always leave blinds and curtains open. Clean out the garage and shed. They’re the places where you’ve thrown unwanted goods over the years. It makes sense to have a clean out now, because good storage space is always an important selling point. Flowers set the scene. You put flowers out for visitors. A prospective purchaser is a very important visitor. The kitchen and laundry. Special attention needs to be paid to these areas. Clean the oven, polish the sink, give your cupboards a clean and remove personal items off the fridge. The PRD signboard. We’ll advise you on the best location for maximum effect.
Understanding your needs. Please take some time to think about and answer these questions to help us help you... Number from 1–12, what is more important to you? Marketing
Fees
Liking the agent
Open Houses
Internet exposure
The agents negotiating skills
Sale price
Agency size
Feedback on buyers
Photography
Client communication
Agents service
When are you thinking of putting your home on the market? Now
3 days
1 week
1 month
3 months
6 months
12 months
1–2 years
In what approximate price range do you think your home sits?
Why did you ask PRD Wagga to assist? Have you been referred? If so, by whom?
Real estate advice – to assist you.
Help us help you 1. Think back to when you originally purchased the property a) What influenced you to buy the property?
b) What plans did you have for the home, which you may not have completed?
c) What advantages are there living in your home?
2. When family or friends visit, what do they point out as the benefits of your home?
3. What are the five best things about your home?
4. Do you have any additional comments you’d like to make about your home?
prdwagga.com.au | 02 6923 3555
Hear what our clients have to say. Ryan was friendly and professional. His market appraisal was very good. The auction process while nerve racking at first gave us the best result. Ryan was great at explaining this process and we are really greatful to have sold so quickly and at a good price! Ryan also had really good contacts in the trades for some work prior to going to market which helped enormously. Recommend! Claire & Chris - 23 Croaker Street I can highly recommend Ryan to anybody wishing to sell a property. Ryan is an exceptional young man who is extremely knowledgeable with the real estate markets. Our interactions with him were great. The sale of our home was quick and painless. Brian & Yvonne - 20 Warambee Street Ryan’s enthusiasm, professionalism and guidance were invaluable in helping us achieve our goal price. He knew the market intimately and we were confident that his knowledge would allow us to achieve the best sale price the market would sustain. He has an uncanny ability to drive the selling process without being pushy. Ryan displays high ethical standards and we would have no hesitation in recommending him for your real estate needs. Chris & Perry - 13 Rudd Street Ryan was incredibly helpful and went above and beyond to help us with all our questions and requests. Negotiations were very quick. I could thank Ryan enough and would highly recommend Ryan as your sales Agent!
Ryan was a pleasure to deal with from the first phone call and throughout the entire selling process. He is professional and easy to talk to. Ryan knew the market very well and recommended a realistic selling price, negotiating an acceptable offer in only a few days of the property going on the market and before the first open home! Ryan kept us updated at all times on the progress of the sale. He went above and beyond, even negotiating the sale of some of our furniture that the buyer was interested in. We highly recommend Ryan to sell your property!!! Dean & Lisa - 61 Northcott Parade Ryan is an excellent communicator, he is forthright and and has an adaptable plan to sell your home. Ryan will keep you informed of positive and negative reviews and ways that you can enhance the sale of your property. My wife and I, highly recommend Ryan Smith as an agent who does the best for buyers and sellers with any nonsense approach which helps move your property quickly. Rod & Judy - 4 Talbot Place I chose Ryan to sell my property after dealing with him previously. His easy going nature, professionalism, and ease of communication made him the ideal choice to sell my house. Always positive and easy to contact would not use anyone else. Thanks mate. Greg - 162 Brooklyn Drive
Jess & Trae - 53 Ashmont Avenue
Real estate advice – to assist you.
Let’s hear from our clients,
a few testimonials
“Ryan knows the market” He did a great job delivered on what he promised Ryan is professional, he knows the market and delivers. Could not be happier with his service. Matt - 18 McDonough Avenue
“Not your typical salesman!”
“Friendly, professional, and knowledgeable”
What a fantastic person to have selling your greatest asset! Everything he said he would do, was done! Never once did we need to follow anything up or remind him. He was honest and easily approachable. You will not meet a more upfront agent in the riverina! Trust him and he will not let you down.
Ryan was easy to work with from the get-go. His spot-on knowledge of the trends in the area led to us setting the perfect listing price and subsequently receiving multiple competitive offers. Due to circumstances outside of our control, our sale process wound up being a little trickier than usual, but Ryan and Lily were very helpful and informative throughout. Highly recommended.
Sam & Rachelle - 8 Jasmin Crescent
“Highly recommended!” Ryan was an absolute pleasure to work with on the sale of our home. He was knowledgeable, supportive and reassuring throughout the entire process. His communication was next level - always contactable and proactive about providing updates on the state of play. I wouldn’t hesitate recommending Ryan and his team to anyone considering selling their home. Taylor - 9 Wallaby Street
Jamie & Sam - 72 Stanley Street
“Breaking records in Boorooma” If people are looking to sell their house you can’t go past Ryan Smith and the team at PRD. Their approach to selling houses was non-stressful and flowed from start to finish. The professionalism is unparalleled and you will get the results you are looking for. You cannot go past these legends. Paul - 2 Trumper Street
“Sale of 52 Crampton St” Dear Ryan, Just to say how grateful we are for your professionalism and skilful approach displayed in selling our house. We wouldn’t hesitate to recommend you and your team to any potential customers. Duc - 52 Crampton Street
“Best in the business” Our experiences with Ryan have always been great, Ryan knows everything there is to know when it comes to selling or buying a house. His knowledge of the local and surrounding area made us feel comfortable and confident working with him. I always recommend Ryan to anyone who is looking for a real estate agent. Sarah & Dion - 3 Falcon Place
prdwagga.com.au | 02 6923 3555
Notes
Real estate advice – to assist you.
January 2016 FTR32
FACT SHEET
Agency agreements for the sale of residential property
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 agent To 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 y y y
make sure they have a valid licence get a list of all their fees find out if they have a good knowledge of your area ask if they adhere to a code of ethics.
Signing up with an agent Before 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
www.fairtrading.nsw.gov.au
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 agreement The 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 from 1 March 2015 inclusive, a warning about the commission if the agreement includes a term that a commission is payable even if the sale of the property is not completed 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 for the property. The price may be a single price or a price range. Note: If a price range is used the highest price cannot exceed the lowest price by more than 10%. An agent is required to amend their estimated selling price if it is no longer reasonable, notify you in writing and amend the agency agreement. Your consent is not required to amend the agreement with the revised estimated selling price. The agent must provide you with evidence of the reasonableness of their estimated selling prices.
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January 2016 FTR32
FACT SHEET
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, except if the agent revises their estimated selling price for your property. The NSW Fair Trading website contains more information about the estimated selling price and what an agent must do when advertising or making a statement about the likely selling price of your property to potential purchasers.
Commission, fees and expenses The 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 each agent for a printed list of their fees and commission rates and the expenses they charge.
Disclosure of rebates and discounts The 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.
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 agreements There 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 agreements Exclusive 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.
Ending the agreement The 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
www.fairtrading.nsw.gov.au
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FACT SHEET
Sole agency agreements This 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 agreement This lets you list your property with a number of agents. You pay a commission to the agent who finds the buyer.
Multiple listing This 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.
Auction agency agreement This is effectively an exclusive agency agreement where the property is listed for auction.
Cooling-off period The agency agreement becomes binding when the principal (that is, you as the owner/s [vendor/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.
www.fairtrading.nsw.gov.au
January 2016 FTR32
Cancelling the agreement during the coolingoff period If 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 [vendor]) 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, email it to an address specified by the agent as an address to which emails to the agent must be sent, 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 rights If 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
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January 2016 FTR32
FACT SHEET
binding and the agent can get to work on selling your home.
The Contract of Sale A 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. If you are selling a residential property that has a swimming pool or spa, ensure it is compliant with the Swimming Pools Act 1992. For more information and to check your responsibilities, or to check if a property with a swimming/spa pool has a current certificate of compliance, visit the NSW Swimming Pool Register website at www.swimmingpoolregister.nsw.gov.au 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.
Exchange of contracts The contract exchange is a critical point in the sale process. Be aware of the following important conditions in the exchange of contracts: 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.
www.fairtrading.nsw.gov.au Fair Trading enquiries 13 32 20 TTY 1300 723 404 Language assistance 13 14 50
www.fairtrading.nsw.gov.au
This fact sheet must not be relied on as legal advice. For more information about this topic, refer to the appropriate legislation.
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 problems If 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 tips If 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 information NSW 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.
© 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 publications@services.nsw.gov.au
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