But of course, there are many submarkets in Australia, with some performing much better than others. Their latest results take the annual decline across the national index to 3.
Dealing with a real estate agent Dealing with a real estate agent Under Northern Territory NT law all real estate agents and businesses must be licensed. You should compare any recommendations from your real estate agent with recent sales data. The agent will charge you a fee to sell your property.
Before you sign up with an agent Before you sign an agreement with an agent you should talk to other agents and compare their services and fees.
Your agent should have knowledge of the property market in your area including what has sold. Agreements with an agent In the NT there are two types of agreements you can sign with a real estate agent: Your agent must discuss these types of agreements with you before you sign the contract to appoint them as your selling agent.
What should be in an agreement An agreement will set out the services the agent will provide for you and the amount of any fees or commission you agree to pay. The agreement with your agent usually also has a set time that it must run for.
You can't get out of the agreement before this time, unless the agent agrees. It the agreement does not have a fixed time, it must state how the agreement can be ended. Read your agreement It is a legally binding contract so it's important that you read and understand it. If you do not understand the terms and conditions, ask for clarification or get legal advice.
Read more about signing contracts and agreements.
Negotiate your agreement You can negotiate with the agent about the terms and conditions of the agreement and to ask for any legal-allowed changes to be made. This includes the amount of any commissions, fees or other expenses that you may have to pay the agent.
How to end the agreement It is important to properly end the agreement before signing up with another agent. Your agreement with your agent should set out when and how you can end it.
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If you don't end your agreement properly you may be charged commission by both agents when the property is sold. Rules for real estate agents Real estate agents must be accountable and meet certain standards of professional competence under NT law.
Agents must negotiate the best possible price for you when buying or selling your property. Agents who are members of the Real Estate Institute of Northern Territory must also follow the institute's code of conduct. If you are not happy with an agent go to make a complaint about a real estate agent.Meet Colliers International--the leading commercial real estate company in Australia providing comprehensive services to property investors and tenants.
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