Price substantiation & True estimates on Agency Agreements

Under the Fair Trading Supervision Guidelines, agents must be able to substantiate the selling price inserted on their agency agreements. Please click below to watch our short video on factors that agents should consider when substantiating price and the Best Practices to follow.

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Authority to sign a contract on behalf of a party

Often a situation will arise whereby all parties who are purchasing a property will not be able to all attend on the date of the auction. When circumstances like this arise, agents need to be aware that a written authority to bid on the property & to sign the contracts on the parties behalf must be obtained and kept as part of the documentation as part of the bidders register.

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