A call for tenders or an invitation to tender (tender) is a special procedure for generating competing offers from different bidders looking to obtain a property. When buying and selling real estate in New Zealand, there is no one method that is universally accepted as best practice as both the property itself and the circumstances surrounding each sale contain wide ranging variables. Following on from last week’s article concerning selling real estate by public auction we will now look at the tender process. continue reading »
July 29 2010 | Buying Rural Waikato Real Estate and Selling Rural Waikato Real Estate and Waikato Rural Real Estate Agent | No Comments »
In New Zealand there are a number of different methods used to sell real estate and many people will already be familiar with the Auction, Tender and Private Treaty methods. Every method has its pros and cons as well as detractors and supporters both within the industry as well as amongst the buying and selling public. In more recent years pricing of property appears to have challenged some bringing about a score of new jargon such as ‘expressions of interest’ ‘price on application’ ‘price by negotiation’ and ‘offers over’, even worse in their abbreviated forms which simply leaves the unwary reader bewildered. continue reading »
July 22 2010 | Selling Rural Waikato Real Estate | 2 Comments »
At times property owners choose to cancel their Real Estate Agency agreement for a variety of reasons. The simplest being that they have decided not to sell their property and are therefore withdrawing from the market. Cancellation of the Agency agreement in this instance isn’t usually a problem; after all, the Agent will only achieve a successful sale with the Vendor’s cooperation and as such there is little point in the Agent trying to bind the Vendor to any Agency agreement. continue reading »
July 08 2010 | Real Estate Industry News and Selling Rural Waikato Real Estate | 4 Comments »
Whatever the market is doing out there, selling your property does not have to be overly complicated, not when the correct amount of attention is given to the 4 P’s – Price, Presentation, Promotion and Persistence. The brilliant part is, the 4 P’s are all variables which are completely within your own control. A warning though, if you are feeling a little sensitive about having had your property listed forever, then I suggest you skip this article. However, if you are serious about selling take a deep breath and read on. continue reading »
May 24 2010 | Selling Rural Waikato Real Estate | 6 Comments »
If you plan to sell your business and wish to achieve the maximum return on your investment, be sure to start the necessary groundwork well in advance of the marketing process as there are many details which must be included in your preparation. As a business owner, this will quite likely be the largest and most important deal you have ever been involved in and as such has the potential to be stressful if not managed carefully. Below are some key points that business owners need to consider prior to going to the market.
Allow plenty of time
The preparation of a business for sale is a process; how long it takes will be dependent on the business itself however a minimum of at least a year should be considered. continue reading »
March 11 2010 | Selling a Waikato Business | No Comments »
At the height of the lending frenzy, many financial institutions were willing to provide capital for a business acquisition on the condition that is was secured against the buyer’s equity in their family home. Buyers were comfortable with this as ‘property value always goes up’. Those financial institutions that survived the cull are now far more conservative than previously; a visit to the bank can be a harsh reality check for the would-be buyer and they may now find it quite demanding trying to arrange their finance.
Buying an existing business has many advantages including a proven track record as opposed to the financial projections that come with a start-up, so although the process has become more challenging, it is still worth persevering. continue reading »
February 24 2010 | Buying a Waikato Business | 2 Comments »
In New Zealand, the most traditional form of Business Brokerage compensation is in the form of a success fee commission charged to the seller as they are most often the principal to the Agency agreement. Payment of the commission to the Agency (Business Brokerage/Licensee) is contingent upon the Brokerage (1) finding a satisfactory buyer for the business and then (2) successfully negotiating a sale and purchase contract on terms and conditions that are satisfactory to both buyer and seller.
How much the Business Brokerage is in fact paid is dependent on two key points continue reading »
February 08 2010 | Real Estate Agents Act 2008 and Selling a Waikato Business | No Comments »
What’s going to happen to your business if you are run over by a bus tomorrow? Whilst there are not many certainties in life, exiting your business in one form or another is one that is guaranteed.
Business success is dependent on many factors including considerable time, concentrated focus and strategic planning prior to the actual start-up phase. Many entrepreneurs are swept along on the current of excitement surrounding a new project, however in the long term it will pay handsomely to pause a moment at this juncture and include in the planning your eventual exit strategy.
Leaving a business is a process and as such needs to be considered well in advance. Among the various options available to the business owner are; continue reading »
January 07 2010 | Selling a Waikato Business and The Professional Business Broker | 1 Comment »
Pursuant to Section 14 of the Real Estate Agents Act 2008, the Real Estate Agents Authority has provided all licensees active within the industry, with a set of Rules which came into force on 17 November 2009. Whilst not intended to be an exhaustive statement, they do however, set the minimum standard expected of all licensees. The Rules are known as the Real Estate Agents Act (Professional Conduct and Client Care) Rules 2009, which gives us an insight to the greater emphasis given to consumers involved in all types of real estate transactions. Minimum standards are hardly a benchmark to aspire to, and many licensees are already committed to providing a superior service.
Rule 9 addresses “Client care and dealings with customers”. Under the Act a client is a person who has entered into an agency agreement with an agent to carry our real estate agency work. A customer means a person who is a buyer or potential buyer of land or a business, and who is not a client as defined under Section 4 of the Act.
December 02 2009 | Real Estate Agents Act 2008 and Selling a Waikato Business | 1 Comment »
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