Frequently Asked Questions . . .

 

 Before Marketing
 
Q.            How long will it take?
A.            Our ideal aim to have a property sold is within 30 days - assuming the price is realistic. The average time is 62 days (REIWA March 2007).
Q.            What is the process involved?
A.            The property is marketed for sale at a fixed price or buyer indication range. When upon, an offer to purchase is written up with a buyer. We present this offer to you for discussion and negotiation. Once this offer has been accepted by both sides, we instruct your Conveyancer to prepare the Transfer of Land form and to adjust rates and taxes. Settlement takes place in due course and possession takes place once settlement has been effected.
Q.            Can you provide recent testimonials from people who have done business with you?
A.           Yes. Further to the included testimonials, we have a “Testimonial Folder” we can provide to you at your request.
 
Selling Authorities
 
Q.            What are the different types of selling authorities?
A.            The types of authorities to sell are:
                (i)            Exclusive Plus Authority
                (ii)           Multi-Listing Authority
               (iii)           Exclusive Authority
(iv)           Auction Authority
 
(i)            Exclusive Plus Authority
                The exclusive plus authority has recently been introduced by the Real Estate Institute of WA (REIWA). It promotes your property via the Multi-listing process. Information appears in the Homebuyer publication (that all Multi-listing agents in Perth receive).
               While the information about your home is disseminated through the Homebuyer publication, all inspection details and enquiries by other agents are still coordinated by Alan Bourke. We believe that the exclusive plus is a very effective authority, as it promotes broadly, while still focusing all enquiries back to your Advisor.
 
(ii)           Multi-listing
                This Authority is for Alan Bourke Real Estate to be your Exclusive Agent in promotion and negotiation.  We, in turn, lodge this Authority with the Real Estate Institute of W.A. (REIWA) and they send details of your property to all Multi-Listing Agents.  They are granted an automatic conjunctional from us and they will ring you, or your tenant direct, to arrange inspection.   These authorities are for a   standard fixed 90 days.   An offer obtained by another agent will be presented to you by us.
 
(iii)          Exclusive Authority
                This Authority authorises Alan Bourke Real Estate to market and promote your property exclusively. We will conjunct (or co-operate) with other reputable agents to sell your home. If they have a buyer we simply share the commission. We circulate information to other REIWA agents via the MLS system to advise them we will co-operate with them in selling your property.
                So an Exclusive Authority is a ‘misnomer’ as we won’t be the only agent selling your property. Other Agents will ring you and ask if they can show their buyers through your home and if your property is rented they will ring your tenant direct. They have already spoken to us. The Authority can be for any period you nominate but generally 90 to 120 days.
 
(iv)          Auction Authority
                In a market of high demand and low supply, the Auction Method is an excellent way to maximise price and do this within a 3 - 4 week period. Deceased estates, mortgagee sales and land releases use this method as there can be no dispute that the highest price was obtained on the day. The process is that we appraise your property and suggest a reserve price, i.e. a price below which you shouldn’t sell. On the day the highest bidder (at or in excess of the reserve price ) will pay to the auctioneer ten percent (10%) deposit and the balance of the funds within 30 days or terms suitable.