You can sell your property yourself or contact a licensed real estate agent to help you handle the sale for you.

Selling without a real estate agent 

If you plan to sell your property without using a real estate agent, you will need to:

• set your sale price
• advertise the property
• negotiate with buyers
• manage the contract of sale and arrange for it to be signed
• secure their deposit

You will also need to manage the settlement, which you can do with a settlement agent. More information is available on the setttlement page. 

Strata titled property

Before you sell your strata titled property, you must provide the buyer with the following:

• Sale of Strata Titled Lot or Proposed Strata Titled Lot (Form 28). Form 28 sets out a list of all the information buyers should receive before buying a strata titled property. It also covers their rights if they do not receive the information.
• Buying and Selling a Strata Titled Lot (Form 29). Form 29 outlines a buyer’s rights and obligations if they become an owner of a strata titled property.
• A copy of the strata plan. This shows the lot being sold and providing information relating specifically to the lot.
• A copy of the standard by-laws (and amendments) and any non-standard by-laws.

Selling through an agent

If you plan to sell your property through an agent, they must:

• be a licensed real estate agent, or
• be employed and authorised by a licensed estate agent as a registered sales representative 

They must also:

• act in your best interests
• follow your lawful instructions
• have a written contract with you to sell the property
• get a copy of the certificate of title for the property

You can expect your agent to:

• suggest a method of sale (private sale or public auction) . This should be supported with recent sales data
• provide a marketing plan including advertising for the property
• attract prospective buyers
• organise and attend inspections
• organise and conduct an auction (if you choose this method of sale)
• arrange the signing of the contract
• collect and hold the deposit.

Agents must comply with the Australian Consumer Law. It is illegal for an agent to:

• make false or misleading claims about a property. This could be verbally, in writing or in photographs.
• mislead you about the estimated selling price of your property
• advertise or advise a prospective buyer of a price less than your asking price, the agent’s estimated selling price.
• make or accept dummy bids at auction, or accept any late bids after the fall of the hammer
• charge you more for advertising or other outgoings than you authorised in writing or they paid for the service.

Agents must provide buyers with truthful and relevant information about its property. You should ensure any information provided to the agent about the property is factual and up to date. If advertising is not accurate, and a buyer can prove a property has been ‘misrepresented’, the buyer may be able to take legal action.

For more information, see:

• Consumer guarantees on products and services
• Unconscionable conduct
• Unfair contract laws
• False or misleading representations
• Misleading or deceptive conduct

Choosing an agent 

When you choose the agent, you will be asked to sign a ‘written authority’ to appoint the agent. This is a legally binding contract, setting out all details of your agreement with the agent.

Some factors to consider carefully before completing and signing the contract include:

• How long do you wish to engage the agent? This is known as the ‘exclusive rights period’.
• What are the maximum marketing charges and expenses?
• Are there any other expenses or costs?
• How much is the agent’s selling fee (commission)?
• How much is the agent’s offering fee?
• Do you have to pay this fee in the event the property fails to sell?

If you want to make any changes after the authority has been signed, they must be:

• made in writing
• on all copies of the written authority
• initialled by both you and the agent.

Exclusive rights contract conditions 

Most sales contracts give the agent rights to the selling fee if the property is sold privately or by another agent during the exclusive rights period.

The agent may also be entitled to the commission if the property is sold

• within a set period of time at the end of the exclusive rights period
• to someone introduced to the property by themselves
• to someone introduced by another person during the exclusive rights period.

Unfair contract terms 

The sales authority is legally binding; however there are laws to prevent unfair terms in consumer contracts.

If you believe there is an unfair term in a sales authority, contact the Consumer Protection advice line on 1300 304 054.

Fees 

Most agents are paid by commission on completion of the sale.

The commission:

• is not a set amount – you can negotiate the amount with the agent
• can be paid as either a fixed fee or a percentage of the sale price, or as a combination
• must, when agreed, be recorded on the written authority.

There will also be costs associated with marketing and advertising a property. You will need to pay these costs even if the property fails to sell, unless you have negotiated a ‘no sale, no fee’ arrangement in the written authority.

Watch out for scammers 

Clever scammers have pretended to be both sellers and buyers and have walked away with thousands.  Make sure you are aware of their tactics. Read more on our property scams page.