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How to list your property with an Agent

Having come to the decision that you’re going to sell your property, the next step is to either list your property with a Licensed Real Estate Agent, or if you’ve the time and resources take on the Agent’s role yourself and try to sell privately.

Listing with an Agent

When listing with an Agent, the Real Estate Agents Act Professional Conduct and Client Care Rules (2009) clearly outlines the minimum standard of conduct to which Agents must adhere prior, during and following the listing day. While it appears to many sellers as an enormous amount of paperwork, it’s done in the interests first and foremost of the consumer.

The following is a brief outline of what the Agent has to comply with in order to list any land or business:

The Agent will meet with the Client at the property in order to conduct the initial stages of an appraisal which includes recording all relevant details about the property
Research the local market and establish a likely selling range
Provide the Client with the completed written appraisal which realistically reflects current market conditions, and is supported by comparable information on sales of similar land in similar locations
Prior to inviting the Client to sign the Agency Agreement, the Agent must explain to the prospective Client in writing;
The conditions under which commission must be paid, how it’s calculated, including an estimated cost (this is an actual dollar amount) of commission payable by the client which will be based on the previously mentioned appraisal
How the Agent proposes to market the property, including any additional expenses that will be incurred on behalf of the Client. The Client isn’t obliged to agree to such additional expenses
Details and disclosure of any discounts, rebates and commissions which the Agent may receive
Explain to the Client the Agent’s in-house procedures for dealing with complaints and disputes as well as making them aware of the REAA’s complaints process and how to access it
Explain that if they choose, the Client can access further information on Agency agreements and contractual documents from the Real Estate Agents Authority (REAA).
The Agent must also ensure that the Client is aware that they can, and may need to seek legal, technical, or other advice and information and allow the Client time to do so prior to signing an Agency Agreement

If it’s a residential property, there are some further compliance conditions:

The Agent is required to provide the client with an approved guide (New Zealand Residential Property Agency Agreements Guide) before an agency agreement is signed
The Agent is required to explain to the Client that they have the right to cancel a Sole Agency Agreement by 5 pm on the next working day
Furthermore, that a Sole Agency Agreement in respect of residential property can be cancelled 90 days after the Agreement is signed

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May 17 2011 | The Professional Business Broker and Uncategorized and Waikato Rural Real Estate Agent | No Comments »

How to make your home energy efficient

Energy efficient homes have many benefits for the inhabitants including warmer, healthier and more comfortable living conditions as well as lower power bills. Additionally, being energy efficient will reduce the home and your impact on the environment.

Classic brick and tile Te Awamutu home

We moved into a 50 year old home in February this year which isn’t energy efficient and I’d like to share with you over the coming months some of the steps we take to improve our energy use. It is likely that others are also doing the same or similar with their renovations and you are welcome to leave comments or suggestions. Having bought the home in the heat of summer our plan was to initially do nothing for the first winter until we could establish exactly was needed. While I don’t have access to any scientific data in relation to the home, I can relay my personal observations and research. It has been cold – no doubt exacerbated by the fact we had moved from Coromandel to Te Awamutu – but also because the home has inadequate insulation and heating.

Before renovation

The original home was built 50 years ago; it has brick cladding and a tile roof. The floor in this part of the home is suspended native timber. Approximately 20 years ago the home was extended in keeping with the original style the main difference being that the floor is on a concrete base. The 180 m² space contains 3 bedrooms, office, bathroom, toilet, laundry, separate lounge opening to a dining room, and the kitchen which opens to a second larger living room.

The roof insulation is a mix of 20 and 50 years old bats; the 50 year old insulation is well past its use by date. There is no under floor insulation however the new section has under floor heating in the slab. We assume that there is no insulation in the walls. The windows are single glazed with wooden frames; curiously some of the windows in the newer section are a little draughty in extreme weather. All windows have adequate curtains for privacy. The floor has wall to wall carpet throughout the living areas and vinyl in the wet areas.

The separate lounge has an open fire which has apparently not been used for 20 years (the length of time the previous owner lived here). The fire place has a cover to stop draughts coming down it. We relied on electric oil heaters through the winter as a temporary measure.

Our plans

Next week I’ll share with you some of the plans we have to make the home more energy efficient.