Unless a consultant already has appointments or their own auction, they should support colleagues and attend company auctions. The auction process gives the public opportunities to preview the company and its people. It is therefore vital that staff grooming and behavior is without reproach.
Consultants standing in groups chatting amongst themselves is not acceptable conduct, they are encouraged to mingle with the crowd and offer assistance.
Consultants at all times should encourage potential and current vendors / purchasers to attend company auctions to credential and market the company and its auctioneers.
After the Auction, consultants must speak to interested parties and, if necessary, keep under bidding them just in case the Purchaser decides not to sign the contract.

Assisting at auction

Ask listing agent what he/she would like you to do; most likely talk to any buyers and ask if they have any questions about auction (by this time in the campaign you should have an idea who these people are)
Property brochures and newsletters are also good to hand out to anyone who comes through the open/auction

Auction authorities and offers

Purpose

This procedure contains the policy details and instructions for Auction Authorities and offers.

Procedure

When an Auction Authority is signed, Auction Rules apply
All Sales Consultants and the Listing Consultant must ensure that their initials, purchaser’s name and contact number are written on the front of the file prior to acceptance of an offer in order to be entitled to make a claim for commission unless sold at auction.
No name shall be written on the file until an inspection has been conducted with the purchaser.
Prior to documenting an offer, the purchaser must seek legal advice from a Solicitor (not a conveyancer). Prior to signing an offer, the Agent must fill in a Contract Note and attach a copy of a signed Section 32 with it. When the purchaser returns he must initial the clause 6 on the back of the Contract Note.
A Sales Consultant may notify that a property is under offer by writing in (red pen) the day book the address of the property, proposed settlement date and that a deposit has been taken (minimum of $1,000 deposit and balance on acceptance), Section 32 and Contract Note prepared. Property may still be inspected while under offer.
When an offer is acceptable all sales consultants listed on the front of the file must be contacted. If they are absent then an independent consultant must have consent from all interested parties.

Otherwise the following alternative applies

When an offer is acceptable to the Vendor then the acceptable offer must be written in the daybook by 5.30pm that day. If not then all consultants must be notified by 8.00pm that night. If all sales consultants are unable to be contacted then the closing time for offers is held over for a further 24 hours. All sales consultants must contact their buyers for offers by 5.00pm the following business day. Business days are Monday to Friday (this allows purchasers to seek solicitors advice), offers taken over the weekend cannot be closed until the next Business day. If offers are to be closed in less than 24 hours it requires 100% acceptance by the sales team. All offers considered by listing agent and / or vendor. All offers must be signed up by 5.00pm unless otherwise agreed
Listing Consultant not to ratify alone if an interested party and close offers possibly contentious and selling sales consultant may attend ratification unless manager decides to the contrary.
All losing buyers are not to be notified until after sale is ratified.
If agents do not follow these procedures, they may forfeit their commission entitlement.

Auction Day

Purpose

This procedure contains the instructions for staff prior to, and on Auction day.

Procedure

Auction This Week sash to be placed on board Monday prior to the day.
On the Monday prior to Auction check to see if contracts are in the file; if not follow up urgently.
Letterbox drop (Invitation to Attend and Auction) of street 3 days prior to Auction.
Listing Consultant and Auctioneer to meet with Vendor 3 days prior to Auction Day to discuss campaign, set reserve price and sign 32’s.
On the night before the Auction, the Listing Consultant must contact Vendor and wish them all the best for the day.
On the morning of auction, the listing consultant is required to erect boards and flag by 8.30am, and remove immediately after the auction is completed.
The Listing Consultant must arrive 10 minutes before OFI, to display Auction Contracts and Privacy Policy Collection Statement must be on display in a clearly visible position at front door
Duty Auction Staff to arrive ½ hour prior to Auction
Consultants to be dressed in professional business attire (dark suit, jacket, polished shoes etc)
Name tags must be worn

Auction Flowers

Purpose

This procedure contains the instructions for ordering flowers for auctions.

Procedure

On Monday, see if there are any upcoming Auctions and, if so, flowers need to be ordered as follows.
Once flowers have been ordered, mark task as Complete
All requests for auction flowers are to be sent via email Monday of each week advising of the address and which office they are to be delivered to
Links showing the photos of the house being auctioned are to be sent through Monday or as near as – but definitely before Wednesday
Any delivery requests outside of normal delivery to the office/s on Fridays are to be emailed to…
- The date the delivery is required (timed deliveries can be done, but there may be a surcharge depending on where and what time of day – am or pm is fine
- The name of the person they are going to
- The delivery address
- The message on the card that is to be sent with the flowers
- The cost of the flowers (the usual is $35) from time to time an Agent may request in writing to upgrade from a standard bouquet to a prestige bouquet ($65) this is ok to do, however, you must email advertising coordinator at the time so as it can be costed to the property. The Agent pays the difference in cost here.

If the extra delivery details meet the requirements as in item 3, then it might be easy enough to copy and send on letterhead.

When flowers have been delivered, advise listing agents and place on their desks

Auction Preparation

Purpose

This procedure contains actions necessary for the preparation of an auction.

Procedure

When an Auction is booked, ensure that the Auctioneers Diary has the booking registered.
It is the Listing Consultant’s responsibility to ensure that the auctioneer is provided with a complete set of documents and activity report at least 24 hours prior to the auction.
It is the Listing Consultants responsibility to ensure the Auctioneer is booked and knows of the booking and that adequate staff attend the auction and post sale sign-up.
An Auction Running Sheet must be completed prior to the Auction Day for the Auctioneer to follow

Auction Tasks

Purpose

This procedure contains the instructions for managing auction tasks.

Procedure

Auction tasks are as follows

Check Auction Contract has arrived should be 14 days prior to Auction
Book Auction Flowers should be the Monday before the Auction
Marketing – Send Auction Invites prior to Auction should be the Monday before the Auction
SMS Hot Buyers should be the Friday prior to the Auction

Auction venue guidelines

Purpose

The following describes how to select and prepare an auction venue. The aim of these instructions is to maximise professional sales presentation and auction results.

Procedure

Both the Seller and the company want maximum benefits from an auction. the Seller wants to sell the

property for the best price possible and the company wants to enhance its reputation. Experience has

shown the best way to prepare an auction venue, and these instructions describe this procedure. Lack of attention to detail can have a big impact at an auction, both on the sale and on company reputation. It is very important to get everything right.

To help you decide between and indoor and outdoor venue, consider acoustics, weather, traffic and how you will to attract a crowd.
If appropriate, erect street signs leading to the venue, and signs flags and bunting outside the venue before 9am on the morning of the Auction
Set up the venue at least two hours before the auction
For outdoor venues, select an area and position with as much protection from wind, noise and sun as possible. Allow for the position of the sun.
If you are providing seats, have an aisle at the centre and along each side. This allows Sales Consultants to conveniently speak with bidders or the Seller.
Select where the Auctioneer will stand during the auction. The Auctioneer needs to be able to see all members of the audience and to establish rapport with them. It will help if the audience is close and there are no physical barriers between them and the Auctioneer.
If the Seller is present, it is better for them to be close to the front, preferable in a reserved seat. This way it is easy for the Auctioneer to refer questions or ask for approval to proceed.
Before the auction, select a private place for the Seller and high bidders to negotiate and sign contracts.
Do not provide alcohol at the auction
Ensure that a copy of the Contract of Sale for all properties (including all documents required by law) is available for inspection at the venue before the auction, along with Bidding Procedure Form.
Display brochures prominently in a place where members of the audience can easily collect one
After the auction, promptly remove all signs, flags and bunting apart from the main For Sale sign.

Auctioneer’s guidelines

Purpose

This Auction procedure starts when the Auctioneer starts the auction. It ends when the property is sold or passed in.

Procedure

An auction is a fast moving process, but a lot is at stake. A number of different types of people may be

present, each with their own agenda and viewpoints. The Auctioneer must observe the people present

and conduct the auction fairly and correctly without mistakes. Mistakes or incorrect behaviour at an

auction can be very expensive for the company and the Seller and can damage the company’s reputation.

It is essential that the Auctioneer follows these guidelines.

All staff

Address each other formally as Mr… or Ms … or Mrs …
Avoid personal or frivolous conversation
Only make positive comments about the property

Auctioneer

Stands alone at the selected place for conducting the auction (but may be flanked at a distance by bid spotters)
Controls the auction space
Always faces the audience
Keeps an erect posture, without hands in pockets, throughout the auction
Starts the auction on time, but may delay it if there is a good reason.
Introduces himself or herself to the audience
Does not introduce the Seller
Takes the first bid as soon as possible, avoiding countdown bidding. The first bid can be:
- An audience bid
- A Vendor bid
- A no bid
Uses eye contact, especially with bidders and the Seller
Uses no discriminatory, impolite or confronting language or slang
Minimises humour
If seeking a bid, calls it three times
If bidding slows down (and if appropriate and legally permitted), reminds the audience that, if the property is passed in, the highest bidder has the first opportunity to negotiate with the Seller

Information pack for Auctioneers

Purpose

This procedure contains the instructions for preparing an information pack for auctioneers.

Procedure

Receptionist will be asked to organise the Auction pack.
We recomend that you create a master auction checklist so that you have a system to follow each. Once done provide a link to that here
If you do not know all of the information required, see relevant sales agent for assistance
Get a copy of the property brochure, if there isn’t one please print one from the system
Make a copy of the contract and section 32
Put all of the above information in a Our Company Presentation Folder and give to auctioneer

Preparing for an Auction

Purpose

Both the Vendor and the company want maximum benefits from an auction. the Seller wants to sell the

property for the best price possible and the company wants to enhance its reputation. Experience has

Procedure

All staff (including auctioneer)

Attend the auction if available and support the Sales Consultant and Auctioneer
Do not consume alcohol before the auction
Dress according to the company dress code
Plan and prepare the auction venue according to the Auction Venue Guidelines
Greet and establish rapport with the auction audience, handing out brochures, helping them to inspect the auction documents and also the properties if available

Client Services

Prepares auction invitations the week before the Auction
Attends the auction if available and support the Sales Consultant and Auctioneer

Sales Consultant

Agrees on an auction date with the Seller and conducts advertising according to the marketing plan
Books a qualified and experienced auctioneer to conduct the auction and writes the Auction in the REIV Auction diary located at the Office
At least a week before the auction, delivers a copy of the Contract of Sale for all properties (including all documents required by law) to the auctioneer
Takes the auctioneer to inspect the properties at least one day before the auction
One week before the auction, orders 100 auction invitations from Client Services
Between 24 and 36 hours before the auction, delivers the invitations to the auction to neighbours
Conducts a pre- auction meeting between Vendor and Auctioneer 36 hours prior to Auction
Arrives at the venue at least one hour before the auction start time

Auctioneer

Reviews the Contract of Sale for all properties (including all documents required by law) before the auction
Inspects the properties at least one day before the auction
Arrives at the venue at least one hour before the auction start time and attends the pre-auction meeting

Pre-auction meeting agenda

At least 36 hours before the auction, the Sales Consultant conducts the pre-auction meeting with the Vendor and the Auctioneer. This meeting has the following agenda:

Review Buyer interest
Confirm Seller commitment
Establish reserve price
Confirm contract conditions
Agree on opening bid procedure
Agree on Seller bids to be made
Note special conditions or instructions from seller

Prospective Bidders

Purpose

This procedure contains the instructions for the notation of and contact of prospective bidders.

Procedure

All interested purchasers’ names and phone numbers to be put on front of listing file. Should there be an acceptable offer all reasonable attempts must be made to contact all other purchasers by a neutral sales consultant.
All offers to be put to the vendor/s including the details of enquiries to purchasers who could not be contacted. The vendor/s may decide to accept the sale immediately or wait until 5.00pm the next business day.

Anniversary Cards

Purpose

This procedure covers the necessary steps for sending anniversary cards to past purchasers. It is essential that this task is carried out on time.

Procedure

Christmas Cards

Purpose

This procedure contains the instructions for ordering Christmas cards.

Procedure

You need to organize Christmas Cards at the end of September.

Customer Service

Purpose

Ensure that our customer service is always exemplary

Background

Think about the last time you had a negative buying experience. Did an e-commerce site fail to respond to your email query Did a sales person at your neighborhood computer store fail to know the difference between a floppy drive and a hard drive Perhaps you were left on hold for an inordinate amount of time when you called a company’s telephone.

Negative buying experiences are almost always linked to shoddy customer service. Even though most businesses claim that they put people first, it’s rare to find good customer support.

Strong customer service is a business essential.

Scope

All Staff

Procedure

Commit to quality service. Everyone in the company needs to be devoted to creating a positive experience for the customer. Always try to go above and beyond customer expectations.
Know your products. Convey an articulate and in-depth knowledge of products and services to win customer trust and confidence. Know our company’s products, services, and return policies inside and out. Try to anticipate the types of questions that customers will ask.
Know your customers. Try to learn everything we can about your customers in order to tailor our service approach to their needs and buying habits. Talk to customers about their experience with our company, and listen to their complaints. In this way, we can get to the root of customer dissatisfaction.
Treat people with courtesy and respect. Remember that every time that we, our employees, and our colleagues make contact with a customer — whether it’s by email, phone, written correspondence, or a face-to-face meeting — the interaction leaves an impression with that customer. Use conciliatory phrases — “Sorry to keep you waiting,” “Thanks for your order,” “You’re welcome,” and “It’s been a pleasure helping you” — to demonstrate not only our commitment to customer satisfaction but our dedication to courtesy.
Never argue with a customer. We know very well that the customer isn’t always right. However, it is important that we do not focus on the missteps of a particular situation; instead, concentrate on how to fix it. Research shows that 7 out of 10 customers will do business with a company again if that business resolves a complaint in their favor.
Don’t leave customers in limbo. Repairs, callbacks, and emails need to be handled with a sense of urgency. Customers want immediate resolution, and if we can give it to them, we will probably win their repeat business. Research shows that the instance of repeat business goes up to 95 percent when complaints are resolved on the spot.
Always provide what we promise. Fail to do this and we’ll lose both credibility and customers. If we guarantee a quote within 24 hours, get the quote out in a day or less. If and when we neglect to make good on our promise, apologise to the customer and offer some type of compensation, such as a discount or free delivery. Overall, only make promises that we are confident that we and our business can keep.
Assume that our customers tell the truth. Even though it may appear that customers lie to manipulate a situation to their advantage, it is to our advantage to give them the benefit of the doubt. The majority of customers don’t like to complain; in fact, they’ll go out of their way — perhaps all the way to a competitor — to avoid it. If we hear unhappy rumblings from our customers, take their complaints to heart and do our best to appease their dissatisfaction.
Focus on making customers — not on sales. Salespeople, especially those who get paid on commission, sometimes focus on the volume instead of on the quality of the sale. Remember that to keep a customer’s business is more important than to close a sale. Research shows that it costs six times more to attract a new customer than it does to keep an existing one. Moreover, happy customers are the best and most effective way to find new customers.
Make it easy to buy. The buying experience in our store, on our Web site, or through our catalog should be as easy as possible. Eliminate unnecessary paperwork and forms, help people to find what they need, explain how products work, and do whatever else we can to facilitate transactions.

Gift Boxes

Purpose

This procedure covers the identification of sales that are expected to settle in the next week and the instructions for producing Gift Boxes.

Procedure

Gift Box Packs (Wednesday)

Check the file to see if the property will be used as the Principal place of residence or as an investment (if land – do not do a Gift Box) – this information can be found on the Sale Input Form (inside property File) at the base in a tick box

Hand write on the Congratulations card as per below:

Eg. 1 (Principal Place of Residence)

Dear Peter & Jodie (use first names)

Congratulations on the Settlement of your new home. Best Wishes for the future.

Regards Our Company and the Our Company Team

(use the Selling Agents name)

Eg. 2 (Investment Property)

Dear Peter & Jodie (use first names)

Congratulations on the Settlement of your new investment property.

Best Wishes for the future.

Regards your manager and the Our Company Team

(use the Selling Agents name)

Place the card in the envelope with the address on the front and seal
Obtain Gift Box from store room
Using double sided tape, stick the envelope in the middle of the Gift Box
Obtain keys from file and place in the key envelope
Place keys inside envelope inside Gift Box

Ordering Gift Boxes

Gift boxes are ordered through …
Each week when you make up boxes for the upcoming week, check your unsettled sales report to see how many future settlements are scheduled to ensure you will always have enough stock to keep you ahead 1 week at a time. The order can take between 7 -10 days to arrive.

Movie Ticket ordering

Purpose

We send our Vendors 2 movie tickets with a letter to thank them for selling through Our Company.

This procedure contains the instructions for selecting, purchasing and delivering the tickets

Procedure

Under the contact tasks there is a letter called “Thank you for selling with us letter”. Print this letter off on behalf of the agent and once the letter is printed you attach the 2 movie tickets.

When you run out you need to re-order the movie tickets as follows

Email Hoyts
Type the following…

Hi …

Can we please order 100 Adult Super Saver Vouchers.

If you can send me an invoice that would be great.

The invoice will be e-mailed to you and once you receive it you need to e-mail it to accounts. Accounts will then pay the invoice, the tickets will then be posted out and you should receive them a couple of days after the invoice has been paid.
Once you receive them place them in your draw in a safe place.
You need to pay close attention to the expiry dates on these movie tickets and only have a supply that will not expire prior to being sent to vendors.
In the situation where the tickets are getting close to expiry you can contact Hoyts and ask to return these ones and supply more valid ones, they will do this but it costs the company $2 per ticket to extend.

New Listing Client Welcome Calls

Purpose

This procedure contains the instructions for making telephone calls to newly listed clients.

Procedure

Newsletters – Quarterly

Purpose

This procedure contains the instructions for generating and sending Quarterly News Letters

Procedure

Newsletters – Weekly email newsletter

Purpose

This procedure contains the instructions for generating and transmitting the Weekly Email New Letter

Procedure

Newsletters are emailed weekly to all prospective vendors, current vendors and prospective buyer contacts with preferred Email method of contact, and valid email addresses.

This is done on a Thursday so that clients who use their work email address are receiving this on the Friday, prior to the open homes for the weekend.

Photo Albums

Purpose

This procedure contains the instructions for sending the vendor and purchasers a photo album of their home.

Procedure

Copy all photographs from onto USB Stick
Take USB to Chemist and ask for the photographs to be copied, gloss with white borders, also request that file names appear on the back of the photo and that they provide us with a receipt, which is given to Accounts
Once you have photographs returned from the chemist, create the album – Cover Page, Letter (write on blank black page with Silver pen)

Vendor

Dear…..,

Fond memories of a beautiful home.

Best wishes for the future.

Regards (agents name)

Purchaser

Dear ………,

Congratulations on the purchase of your new home.

Best wishes for the future.

Regard (agents)

You then need to lay out the photos and attach to black cardboard – lay the photos as if walking through the home from front to back or best you can
On the last page stick a business card of the listing/selling agent
You should have a front cover with silver Our Company writing, a blank page with the handwriting on it, followed by the photographs, then a blank page at the back with Agents business card on it.
Bind Album

Purchaser Calls

Purpose

This procedure contains the instructions for calling the purchaser following the sale.

Procedure

For every sale there is a purchaser. The purpose of the call is to establish how they found our services. The information is recorded in the form of statistics/graphs to analyse where we need to change or improve our services or marketing.

Questionnaires – Vendor

Purpose

The Vendor Questionnaire used to be sent at the time the Photo Album is sent to the Vendor.

This has now been replaced with a phone call. However, there may still be questionnaires returned for some time yet. You will still need to process these questionnaires as they are returned, in the following manner.

Procedure

Surveying vendors, purchasers

Purpose

In this procedure, Customer Service survey all current sellers, and buyers. This procedure starts when the property is sold. It ends when Customer Service provides the survey data to staff for updating company strategy. This procedure applies to all sellers, and all buyers.

Procedure

Market research provides valuable information for company strategy. It is essential in maintaining a Quality standard to survey our clients and measure our results

Existing customers have special value for the company, since the company needs no introduction to them. If the company is aware of their needs, it is in a good position to help them and create new business.

Information from individual customers about their needs helps the company to serve them well.

Customer Service sends a seller a Vendor Response Form. This is done after the property is sold.
After a sales is complete the purchaser is sent the Purchaser response Form.
All survey forms for sellers and buyers are kept
The sales person is made aware of the feedback and may update their testimonial collection
Make data available from the Market Research Database to staff for updating company strategy

Thank you cards

Purpose

Cards need to be sent to Prospective Vendors following a Market Appraisal being conducted.

Procedure

Text inside card is as follows:

Dear________

‘Thank you for the opportunity to meet with you recently regarding your (name of street) home. I will contact you shortly, however please feel free to contact me at any time should you require anything further.’

Regards ________

Place business card of Agent inside card so that client has contact numbers at their disposal.

After Inspection Advice

Purpose

This procedure contains the instructions for after inspection advice.

Procedure

It is necessary to advise the agent managing a listed property of an inspection at that property to give the listing agent feedback on a buyer inspection conducted by a salesperson who is not the listing agent of a particular property.

The result of this is that the listing agent is always the person who gives the buyer feedback to a vendor and therefore is fully informed of the history of the property listing.

Conducting an open for inspection

Purpose

In this procedure , the Sales Consultant conducts an ‘open for inspection’. This procedure starts when the Sales Consultant schedules an ‘open for inspection’. It ends when the Sales Consultant records the results of the ‘open for inspection’.

‘Open for inspection’ is a powerful but fast-moving method of finding a buyer and raising the profile of the company. You must carry it out carefully, so that:

You conduct the ‘open for inspection’ in a way that maximises the number of visitors
You record details of all visitors. Any one of them could be the buyer of this or another listed property.
You maintain security and privacy for the seller

Documents

Documents include: OFI list ( from website), feedback card, advertising material inc magazines and brochures. Refer Open day Checklist for this document

Procedure

Sales Consultant

At least three days before the ‘open for inspection’, briefs the Seller (and Existing Tenant if any) about presenting the property for ‘open for inspection’ (See “Presenting the property for inspection and auction”)
At the start of the day places an ‘Open for Inspection’ board in front of the property with the timeslot in the board at the property. If the property is not on a main road, places additional boards on nearby main roads with arrows to the property.
Leave office with all items for the particular property
Arrive at property at least 5 minutes before scheduled open time
Get key from key safe & unlock doors as required and adjust lighting & heating/cooling as required.
Display advertising material for buyers to avail themselves of as needed.
Attend at front door and greet buyers asking for name, contact phone number and information as to how they knew the property was open for statistical data.
Be attentive and offer to answer any questions a buyer may have.
As visitors leave, asks for and records comments about the property and its price
At the end of the open time check all buyers have vacated and leave feedback card with buyer comments for vendor
Turn off lights and heating/cooling leaving the property exactly as it was found.
Lock doors and return key to key safe
Pick up open boards as you leave the property
Review the ‘open for inspection’ with the Seller
Follow up many visitors as possible. For known prospective buyers, review their impressions of the property. For new clients, qualify them as buyers

Open for Inspection Buyer Referral Policy

This policy is prepared to ensure that an agent who is working with a buyer and has referred that buyer to an open for inspection is rewarded with the sale commission provided correct procedures have been followed.

Referrals made from sales people for an open for inspection must be via the email between agents. Names and contact number of the buyer must be included in your email.

Should this person arrive at the open they may or may not say that the particular agent sent them Buyers, as you know, do not know our system.

If they have identified the referring agent to the agent holding the open, a reply to the original email must be sent simply saying that they came. Should no reply be forthcoming the referring agent should follow up the buyer to ascertain if they did go to the open or reappoint for another time.

The above occurrence will constitute the referring agent due the buyer commission.

If the buyer did go to the open but failed to identify the referring agent as the source of their attendance, provided the referral was made prior to the day of open, the referring agent is still due the buyer commission.

There are to be NO REFERRALS on the day of the open. An agent may send a buyer to an open on the day but the buyers’ commission will be due to the agent holding the open. The only way to earn a commission on open day from a buyer if you are not the agent holding the open is to take the buyer personally to the property. This occurrence may take place during the open time.

Presenting property for Inspection and Auction

Purpose

This procedure contains suggestions that should be communicated to the Vendor for presenting the property in the best possible way.

Procedure

The following are tips for presenting a property for inspection or on auction day, applying to all open houses, inspections and auctions.

These tips describe an ideal situation. Aim to achieve as many of these points as possible.

Outside the property

Wash dust off walls and doorways
Clean windows
Remove cobwebs
Tidy the yard and shed
Remove rubbish
Mow the lawn and tidy garden beds
Carry out repairs or at least improve the appearance of items that need repair
Update paintwork

Inside the property

If the property is not furnished, furnish it as much as possible with borrowed or hired furniture, to make it look ‘lived in’
If the property is furnished but not occupied, bring in items that make it look ‘lived in’
Carry out repairs or at least improve the look of areas that need repair
Clean and tidy the property, attending to high up dust and cobwebs as well as floor- and eye-level areas
Arrange the furniture and personal items to suggest that its occupants are clean and tidy, yet enjoy a comfortable and relaxed life in the property
Open curtains and have as much light as possible in the property
Have pleasant but not dominating background sound and smell, such as low volume classical or jazz music and natural baking or lemon aroma

Prospective Buyer Inspections

Purpose

Prospective buyer inspections occur when a Sales Consultant takes a prospective buyer through a listed property. This procedure starts when the Sales Consultant makes an appointment with the buyer for the inspection. It ends when the Sales Consultant records the results of the inspection.

This procedure applies to all prospective buyer inspections

Procedure

Prospective buyer inspections are a central part of selling a property. Sales Consultants must make the

most of this opportunity to help the prospective buyer evaluate the property and to remove any obstacles or objections that they raise. Be careful to maintain the privacy of the Seller or Existing Tenant.

Sales Consultant

Accompany the Prospective Buyer on an inspection at all times.
Make sure that the Prospective Buyer has been qualified.
Checks any notifications and sales listing details for available inspection times and how much notice is needed before an inspection.
Makes an appointment with the Prospective Buyer for the inspection
Notifies the Seller of the inspection
If required, notifies the Existing Tenant of the inspection usually with 24 hours notice unless the tenant agrees to another arrangement
Offers transport to the Prospective Buyer if this is appropriate
Brings the brochure about the property
Fills in an Inspection Form at the property as notification of the visit
Records the Prospective Buyer’s comments about the property and its price
Send after inspection advice form to the managing agent
Follows up the Prospective Buyer after 24 hours

Security – Vendors Property Policy

Policy

As a company, the vendor has entrusted us with their most valued possession it is important that we respect their privacy as well as their property. It is imperative that we always listen and adhere to their instruction regarding inspections, ensure properties are locked and alarmed when we leave and that the vendor’s keys are put back in the key safe.

Key safe codes are not to be given out to anyone (including family members who may have locked themselves out of their home) unless you have the Director’s authorisation.

Advertising Negotiation Policy

Purpose

To provide guidelines to the sales staff with relation to sales advertising pre approved spending authorities.

In difficult negotiations advertising is at times used as leverage to obtain the listing. For the company to maintain financial control of what is given away.

Policy

The first $500 is available for sale people to use as a negotiation tool at the agents discretion. The mediums that this applies to are:

Internet
Window Display
Stock for sale board
Photos
Brochures

Any expenditure over and above this limit must be approved by management.

It is not the intention of the company that this $500 is available to all vendors. The amount is to be used as a negotiation tool when faced with a competitive situation and need leverage to win the listing for the company.

Advice of new listing procedure

Purpose

To advise all sales staff and administration of new listings as they are listed

Procedure

As soon as the authority is taken and brought to the office the listing agent must create an email to all sales staff with details of new listing as follows:
- Price or auction date
- Address
- Vendors names
- Phone numbers for inspections
- Land size
- Access arrangements. i.e. Key safe etc
Send email to all sales staff
Include any special requirements

All sales people must advise all staff of any new listing by filling in the email template and sending to all staff.

Changes to listing details

Purpose

In this procedure, the sales team records a change to the details of a sales listing. This procedure starts when the Vendor and Managing Agent agree on a change. It ends when the Sales Administrator has recorded the change correctly.

If there is a change to a sales listing, it is very important to record and communicate the change properly. If the new details are not available immediately, staff may perform actions and incur expenses that are no longer authorised. This can cause performance and financial loss.

Procedure

Managing Agent

Agrees with the Vendor on a change of sales listing detail. This could be:

Price
Property information
Marketing plan

Email all sales people & administrators

Sales Administrator

Records the change on:
- The Stocklist
- The window display ad
- The marketing plan
- Newspaper, Internet, television advertising
- Printed materials

Conjunctional Listings

Purpose

This procedure applies to all referrals where the Referring Agent requests a commission.

The company needs to be able to give a fair and consistent response when this issue comes up. If it

agrees to pay a commission, then this agreement needs to be in writing and follow a documented

procedure. If there is no documentation, disputes can result.

The company is ethically bound to refer a prospective vendor to another agent if this is in the client’s best interests.

Procedure

When another agent wants to refer a prospective vendor to the company

The company does not pay commission to a Referring Agent except if the manager approves it.
The manager makes sure that this prospective vendor is not an existing client.
If the company does pay a commission, it follows the steps in “Referral commission agreement” below.

Sales Consultant

Contacts the Agent and offers the client information in exchange for the referral commission.
Note: Negotiate courteously. Fill in referral Form and send to relevant agent
If the Agent is willing to pay a commission, completes a written agreement using the steps below.

Referral commission agreement

The Referring Agent writes to the Agent setting out the terms agreed and requesting written confirmation.
The Agent paying commission confirms the agreement in writing.
The Referring Agent waits for the written confirmation before referring the client.
Once property is sold, tax invoice is sent to Agent.

Gaining an extended authority period

Purpose

In this procedure, the Sales Consultant negotiates an extension of the agency agreement with the Seller. This procedure starts at the end of the agency agreement if the property has not sold. It ends when the Seller sings a new agency agreement.

A property may not have sold by the end of the agency agreement. If the Seller is still motivated, this may just take a little more time. The Sales Consultant may negotiate with the Seller to extend the agency agreement. If the Seller agrees to extend the agreement, the Sales Consultant must review all aspects of the marketing plan and also the price of the property.

Procedure

Managing Agent

Reassesses the motivation of the Seller. If the Seller is motivated:
- Reviews the needs analysis
- Reviews the price
- Reviews the marketing plan
- Invites the seller to sign a new agency agreement
- Changes to sales listing details

Hidden (on the quiets or pocket) listings are strictly forbidden

Purpose

This section explains the company policy about hidden listings.

Hidden listings can create problems for the company as follows:

If a listing does not pass through the listing system, the company cannot guarantee to the Seller or Landlord that it has:
- Achieved the best price or rent
- Followed its procedures
If anything goes wrong, the company may be legally liable
If the sales consultant or leasing consultant makes a mistake, the company system is not there to correct it or reduce the effect of the mistake, yet the company name is still on the transaction and it must support the sale or lease.
If a sales consultant or leasing consultant sells a hidden listing, it is unfair to the rest of the sales team or leasing team and evidence that the sales consultant or leasing consultant is not a team player
Even though a sales consultant or leasing consultant who sells or leases a hidden listing may pay commission correctly to the company, the transaction is still outside company procedures. It is therefore a quality assurance and legal risk to the company.

Therefore the company forbids hidden listings and regards them as an unauthorised risk.

The company may dismiss a sales consultant or leasing consultant who sells a hidden listing.

Procedure

Sales Consultant or Leasing Consultant

Puts all listings through the company listing system
(If there is an immediate and urgent buyer or tenant for a listing):
- Lists the property without delay after the Seller or Landlord signs the agency agreement
- Notifies all sales team or leasing team members without delay about the urgent buyer

Is the property suitable for auction

Purpose

In this procedure, the sales staff help the Seller decide whether to go to auction. The procedure starts when the Sales Administrator compiles auction statistics and information. It ends when the Sales consultant and the Seller last review the auction marketing plan.

Auctions are a popular way to sell property, but are not suitable for all sales. It is important that the Seller understands fully the advantages and costs of auctions and private treaty sales, and be able to make an informed decision. It is important to explain everything and not to push the Seller into an auction against their will. A Seller who is coerced will not bring business to the company by recommending it to others.

Procedure

Sales administrator

Keeps a record of your auction success rate and prices achieved compared with private treaty. Works out sales statistics for before, at, and after auction sales.
- Sales before auction –% (your statistic)
- Sales at auction –% (your statistic)
- Sales after auction –% (your statistic)
- Sales by private treaty –% (your statistic)
Presents this information in a table on an information sheet
Lists the benefits of auction on an information sheet.

Sales Consultant

If an auction will help the Seller to quickly achieve the highest possible price, recommends it to the Seller.
Does not pressure the Seller if they do not want to go to auction
Explains the three stages in an auction marketing plan and that the property may sell at any one of these stages.
Explains the costs involved in an auction
Reviews the auction marketing plan weekly with the Seller.

Leave behind documentation

Purpose

This section describes the material that the Sales Consultant gives to a prospective client at the end of a meeting.

After a meeting with a Sales Consultant, a client will reflect and make decisions about further dealings with the company. The Sales Consultant leaves material with the client:

To provide more information about the company and its services
To communicate satisfaction of other clients through testimonials
To create a good impression of the company through the quality of the materials
So that the client can easily contact the Sales Consultant

Procedure

Leave the following materials with the client as appropriate

Business card
Pre listing kit with information about history, services and personnel and including testimonials from recent clients
Newsletter or recent results sheet showing prices recently achieved in the neighbourhood
Marketing programme booklet

Listing aim

Purpose

This section explains the aim of a sales listing.

Listings that are:

Overpriced or
Have non-motivated sellers or
A poor Risk-Return ratio e.g High priced property with short authority period

Can be very costly to the business e.g Advertising costs, salespersons time and bad public perception of lack of ability to sell.

Procedure

Our aim is:

To sell each property:

For the highest possible price AND
As quickly as possible AND
With the least hassle.

For a :

Motivated vendor
Who has given the firm an exclusive listing for a time period that allows sufficient time to meet the needs of the vendor and our business

Listing closing process

Purpose

This procedure details the actions for the Sales Consultant to obtain the agreement of the Prospective Seller to list the property. This procedure starts when the Sales Consultant has finished the sales presentation and ends when the Prospective Seller agrees to the sales listing or declines.

This procedure applies to all sales presentations.

Procedure

This procedure provides the best script for closing on a sales listing. It allows the Prospective Seller to ask for more information, raise objections and decide on the sales listing without pressure.

If you pressure a client to list when they do not really want to, the client is likely to become an unmotivated seller who will waste your time for no reward.

Sales Consultant

Asks the Prospective Seller for feedback about the sales presentation, both their thoughts and feelings. Asks open questions (that require more than yes or no). Uses the words ‘Tell me …’, ‘Describe …’, ‘What …’. The client has been listening for some time. Lets them outflow and describe their viewpoint.
Asks the Prospective Seller if they have questions or areas of concern. This invites the client to give their objections.
Answers the objections and adjusts the sales listing proposal if necessary.
Invites the Prospective Seller to proceed with the sales listing.

Listing Presentation Summary

Purpose

In this procedure, the Sales Consultant appraises a property and presents a sales proposal to the

Prospective Seller. This procedure starts when the Sales Consultant agrees to appraise the property. It

ends when the sales consultant has completed the presentation.

This procedure applies to all sales appraisals and presentations.

Procedure

The best way to obtain a sales listing is to have the best product and to explain it so that it appeals to the client. After years of experience this company has developed a high standard of service with procedures that promote success and prevent errors. If Sales Consultants communicate this well to clients they can be confident of a sales listing. If they do not, clients will go elsewhere and the company’s reputation will suffer.

The aim of this procedure is for the Sales Consultant to come away from the presentation with a

completed agency agreement, provided it is in the best interests of the client.

Verbal sales appraisal reports and formal presentations

Verbal sales appraisal reports:

Need little sales consultant time
Are for unmotivated sellers, who may be just curious about their property value; formal presentations are for motivated sellers

Sales Consultant (verbal sales appraisal report)

Receives a request from a client for a sales appraisal
Estimates the property’s selling price
Writes a summary of the sales appraisal, including property facts and features and suggesting its place in the market
Telephones the client and delivers the report verbally
Posts a copy of the report to the client
Contacts the client after a week, then occasionally afterwards.

Sales Consultant (formal presentation)

Receives a request from a client for a sales appraisal
Records details of the property and the seller on a New Sales Listing Checklist
Estimates the property’s selling price
Writes a summary of the sales appraisal, including property facts and features and suggesting its place in the market
Drafts a property marketing plan
Prepares an agency agreement for signing
Arranges a meeting with the client with all decision makers present.
Creates a pleasant, positive atmosphere for the meeting
Presents the information to the client, educating them about the sales process and about how their property can do well in the market, using the Four Ps (see below)
Invites the client to sign the agency agreement (see Closing Sales)

The Four Ps

In a sales presentation you are educating the Prospective Seller about their property and your

service, explaining why your service is ideal for their needs.

The clients need to know the Four Ps:

Preparation. Advise the client about preparing their property for sale
Price. Advise the client of an appropriate price for the property
Promotion. Advise the client of the best marketing strategy for the property, showing them your draft marketing plan
Paperwork. Explain to the client the company’s exacting standards of paperwork, describing pitfalls that the company avoids through this. Explain what happens at each stage of the sale process and the way the company conducts this, showing how the company can provide a ideal solution for the client. For example:
- All offers must be confirmed in writing
- The company does not apply a Sold sticker until the property is under an unconditional contract.

Sales presentation checklist

Bring the following to the sales presentation:

Agency agreement
Pens
Descriptions of property and market position
Draft marketing plan

Listing Source

Policy

Listing Source

The source, such as walk in, repeat, referral, advertising, internet etc., of each listing should be correctly stated on the listing input form; this is extremely valuable information for statistical data.

Personal listings occur where the consultant initiates the contact, where a vendor specifically asks for the consultant by name or the consultant can demonstrate ongoing contact with the said client. Requests to any office for a market appraisal where the above does not apply shall be deemed company sourced.

It will be the responsibility of the consultant’s manager to ascertain whether the consultant has maintained contact with the client and involvement of that consultant in the sales process.

Methods of sale

Purpose

To detail the Our Company policy on sale methods. It is the policy of the company to be flexible when offering a prospective vendor a method of selling their home.

Policy

Your Company supports all mainstream methods of sale. Private sale, auction, tender, set sale etc. The need for different methods will change with the market.

At the moment private sale with a buyer inquiry range is the more dominant method. This is not to say that if you have a prospect that would like a fixed price method that we refuse. Many fixed price property sales in recent times have also received excellent results.

Auctions are encouraged but not pushed. Should a vendor prefer an auction method remember we have conducted more auctions than any other company by a long way.

The best method is the one decided upon after the authority is signed.

Needs analysis

Purpose

To ascertain the needs of the vendor. If you can understand the needs of the seller, you can provide better service.

If you can work out whether a seller is motivated, you can decide whether to spend time and resources on the sales listing.

Procedure

A Prospective Seller is someone who has not recently sold a property through the company, or an existing client who is embarking on a different type of sale to previous ones.

Sales Consultant

Identifies and makes an appointment to interview the Prospective Seller
If the Prospective Seller is an existing client, studies all information on record about the Prospective Seller’s needs. This includes the results of any Sellers’ Surveys
If there is no current Prospective Sellers Survey, asks the Prospective Seller to complete one.
Identifies the property potentially for sale and asks for the Prospective Seller’s price range.
Inspects the property.
Invites the Prospective Seller to describe any previous experience of selling property.
Asks the Prospective Seller about their plans after the property sale. If the Prospective Seller uses the word ‘When we sell …’ it suggests a motivated seller. If they use the words ‘If we sell …’, it suggests lower motivation.
Offers a sales appraisal and presentation to the Prospective Seller.
Assesses the motivation level of the Prospective Seller

Assessing the level of motivation

Ask the following questions:

Why are you selling (Pressing needs like moving to another town or having bought another house increase motivation. Simple boredom with the current house or not knowing the reason could mean low motivation.)
How motivated are you to sell (Ask for a self-assessment)
Have you bought another home If yes:
- When does it settle (If the house settles soon, the client probably needs to sell quickly)
- Do you have bridging finance (bridging finance is expensive and increases motivation to sell)
For a motivated seller, deliver a formal presentation.
For a seller with low motivation, a verbal sales appraisal report may be enough.

Obtaining Vendor Statements when taking another agents listing

Purpose

The company has made this policy to protect the legal position of its vendors when they have changed agents to ourselves.

This policy was formulated to protect against the lack of thoroughness of our competitors agencies. Should we receive a Section 32 from a competitor that has any pages missing it could cause a future sale to not proceed which would provide from great hardship for the vendor and purchaser.

Procedure

When a sales person has listed a property that has previously been with another agency we are to always request a S.32 from the vendors solicitor or conveyancer. This may be an exact copy of the one prepared for the previous agent but it must be received from the vendor’s legal representative only.

A vendor who picks up the S.32 from the previous agent and delivers it to us is to be advised of the legal implications of an incorrect S.32 and told that it is the policy of this agency to protect their legal position and always receive a copy of the S.32 from their legal representative. There are no exceptions to this policy.

Property marketing plan

Purpose

This document lists the elements of a marketing plan for a property sale

The marketing plan is a key document for a property sale. It specifies all marketing activities and their costs. When the seller signs it off, they are approving the activities and agreeing to pay the costs. It is essential that this document is accurate and correct and that the sales team follows it closely.

Procedure

The marketing plan sets out the following actions. It is also a checklist for recording when actions are complete:

New Listing email to all sales & administration
Dates and times of property run inspection
Hours available and special conditions for inspection
Dates of ‘open for inspection’
Location, size and contents of signs
Brochures about the property-contents and budget
Newspaper advertising dates and budget
Internet advertising and budget
Personal information about the client that may be released
Negotiating access with existing tenants for sales

Property Run Policy

This policy is prepared to give guidelines as to the conduct of each sales person whilst conducting an inspection of a property during the property run. The run will take place on Tuesdays at 10am and start from the office. All agents must offer the addresses to inspect at the start of the sales meeting. These addresses will be ordered into the best geographic sequence for inspection.

All sales people are required to participate in the property run and conduct themselves in accordance with the guidelines below.

DO:

Take sufficient cards to leave with vendors
Greet all vendors & introduce yourself & thank them as you leave
Inspect every room of the property
Always offer to remove your shoes or to remove them when weather requires
Offer suggestions to improve sale ability to the listing agent after you’ve left
Take as many people per vehicle as possible
Pay attention to the listing agents instructions at the property
Be polite and efficient in your discussions with a vendor who is present

DO NOT:

Discuss price
Make light of any of the vendors possessions
Offer suggestions to improve sale ability to the vendor
Change the order of the properties being inspected from the list
Dawdle
Drive if you don’t know the way, alternatively, have a navigator with you
Go by yourself unless you have a meeting straight after, take passengers
Use the toilet
Converse unnecessarily with the vendor
Accept drinks or food from the vendor, a polite no thank you only

Our goal is to inspect the properties as efficiently as possible whilst being as professional as we can. Vendors may feel that this is a very short visit. All sales people should explain to their vendor that our visit is one of familiarization and that we as professionals only need a short visit to be able to take in the features & benefits of the property to then be able to discuss it with a buyer in the future.

Reassigning listing to another Salesperson

Purpose

This procedure applies to all sales listings

Sometimes it is not appropriate for a listing sales consultant to continue to direct the marketing and sale of a property. Since the listing agent earns income from the eventual sale of the property, it is fair to have a known procedure with published criteria for transferring the property to another sales consultant. This decision is a balance of equal opportunity for sales consultants to do their work to the best of their ability without undue interference, and the need for the company to maintain standards of service.

Procedure

Reasons for transferring a sales listing

Listing Agent requests it.
Listing Agent is going on leave.
Listing Agent has mismanaged or not acted on the sales listing
Sales Manager considers it in the best interests of the Seller and the company, explains reasons carefully to the Sales Consultant and agrees on a plan to prevent the need for future management directed changes like this.
Seller requests it and the Sales Manager is unable to mediate between the Seller and the Sales Consultant (or it is inappropriate to mediate because of what has happened).

Sales Manager

Considers the case and decides to transfer the sales listing
Discusses the change with the vendor
Discusses the decision with the Sales Consultant, explaining the reasons
(If appropriate) Attempts mediation between the Seller and the Sales Consultant
(If appropriate) Agrees with the Sales Consultant on corrective action to prevent the need for future changes like this
Appoints and informs the new managing agent
Requests the Sales Administrator to record the change

Listing Agent (outgoing)

Receives notice of the change from the Sales Manager
Briefs the incoming Managing Agent about the sales listing, handing over paperwork
(If appropriate) Responds in mediation with the Seller
(If appropriate) Agrees with the Sales Manager on corrective action to prevent the need for future changes like this

Managing Agent (incoming)

Receives notice of the change from the Sales Manager
Receives paperwork and a briefing from the incoming Listing Agent about the sales listing.
Sales Administrator
Receives request from the Sales Manager about the change.

Tenanted Property managed by another agent

Purpose

When receiving instructions to sell a property, that is managed by another agent, the following procedures must be observed in order to avoid potential and expensive litigation

Procedure

Vacant Possession

Do not under any circumstances affirm to a prospective purchaser that vacant possession shall be given unless in a position to do so and ensure that the Contract Note or Contract reflects either vacant possession upon receipt of the whole of the purchase money or receipt of rents and profits.
Contact the managing agent as a matter of courtesy advising them that we have received an unsolicited agency (make sure the authority is in writing first) to sell the subject property, requesting a copy of the lease to verify when vacant possession to be given in accordance with the Residential Tenancies Act.
After having observed the foregoing write to the tenant advising the vendors instructions to sell (cc a copy to the managing agent confirming inspection arrangements, chattels, rent reduction (if any) etc.
Ensure that the stock sheet reflects the current tenancy arrangements and whether or not the tenant wishes to remain in possession.
Note: Responsibility for a Notice to Vacate must be initiated by the listing consultant prior to a signed Contract of Sale by either our property management department (as managing agent), the managing agent, or owner.

Subject to Existing Tenancy

Note that the Contract Note will state that the property is subject to existing tenancy and a copy of the lease must be included in the Section 32.

Selling Tenanted Properties

The Residential Tenancies Act was founded on two basic tenants that being security of tenure and peaceful enjoyment

The legislation also provides that a sixty (60) day Notice to Vacate (NTV) a tenanted property must be served either before the property is sold or within 14 days of the property being sold.

It must be noted that a tenant can’t be made to vacate prior to the lease expiring. The 60 Day notice must coincide with the lease expiry date or a date after the lease expiry date. A property can be sold while a tenant is on a lease but it must be sold with ‘rents & receipt’.

If the tenant is not on a lease they can vacate the property at anytime giving 14 days notice.

It must also be remembered that a tenanted property should not be sold with less than a ninety (90) day settlement period. This is necessary to allow for:

The 60 day notice to vacate (63 days if posted)
If the tenants do not vacate, a hearing at VCAT (normally within 14 days after the NTV expiry date; and
Obtaining and executing by the police a warrant of possession (14 day period in which they must execute the warrant).

When a property has been listed for sale with vacant possession, the consultant must complete the issued NTV form and deliver it to the property for the relevant action to be carried out.

Finally a minimum of 24 hours written notice prior to inspections must be given to all tenanted properties.

The Agency Agreement

Purpose

In this procedure the Sales Consultant and the Seller sign the agency agreement and the Sales Administrator checks and records it. It starts when the Seller agrees to enter the agency agreement. It ends when the Sales Consultant sends the agreement confirmation to the Seller.

This procedure applies to all agency agreements for property sales.

The agency agreement is the document that assures the income of the company. It is essential that this document is correct and all parties agree on its contents

Procedure

Sales Consultant

Records details of the property and the Seller on a sales listing checklist
Signs the agency agreement and marketing plan (See the agency agreement and marketing plan templates and instructions attached)
Arranges for the seller to sign the agency agreement and marketing plan (all parties noted on the title must sign, if possible)
Gives a copy of the agency agreement and marketing plan to the seller after signing.
Delivers to the sales administrator:
- The agency agreement
- The marketing plan

Sales Administrator

Checks that execution is complete and correct, returning incorrect documents to the sales consultant for corrective action
Creates a sales file
Prepares form letters and post or deliver

The Property Run

Purpose

The sales team visits newly listed properties. This procedure starts when the listing sales consultants add properties to the tour list. It ends when the sales team has reviewed the tour.

This procedure applies to the sales team for every sales caravan.

Procedure

The sales team is jointly responsible for selling a listed property. When a new property comes on the

market, the sales team can give better help if the Listing Sales Consultant shows them the property and tells them about it.

The sales team conducts the caravan each Tuesday from 9:15 am to 12 noon.

Managing Agent

If any property that is not a new sales listing needs including in the tour, must fill in the Inspections Sheet
Contacts sellers to check that it is convenient to visit them
On the tour introduces and shows properties they have listed to the rest of the sales team

Sales Manager

Conducts the tour
Prepares the tour route, arranging properties to minimise the distance travelled and enters them in order on the property run form

After appraisal dropper policy

Purpose

To prospect for market appraisals after an appraisal has been completed.

Procedure

Much work is done in the preparation for a market appraisal in researching information about the area; this information could be used to assist other potential sellers.

After a sale person, Sales Secretary or Personal Assistant completes an appraisal they must enter the potential vendors details in the system.

The walker must drop the droppers provided by customer service.

After appraisal filing

Purpose

To ensure that listing sheets are filed correctly and the correct information is recorded on the database, so that the sales person and company can keep in contact with all potential vendors

This procedure applies to all market appraisals conducted by any sales person in the company

Procedure

Sales people are responsible for each individual market appraisal. Listing notes are taken and kept in a sales persons own records.

Return from appraisal
Enter data into database
Generate thank you letter or handwritten card
File listing sheet in individual Sales Person’s folder (Alphabetically by address) Keep indefinitely
Ensure all relevant information is recorded on listing sheet & database i.e. Names, numbers etc.

Market Appraisal Appointment Procedure

Purpose

To describe the necessary steps to be taken to make an appointment once a market appraisal inquiry is

received by the receptionist.

The company’s reputation together with its high standard of ethical service over the past results in a

large number of enquiries both from past clients and new customers.

Procedure

Consultants are urged to develop their skills in this area and we support this learning process with the following guidelines whether telephone enquiry or personal appraisals.

It is crucial to always make a firm appointment when a person calls for a market appraisal

Consultants should state their full name
Find out as much as possible about the Prospective Client, preface by saying,”Would you mind if I ask you a few questions regarding your home”

Full names of all owners.
Address and Phone numbers
House type or size
Living rooms, bedrooms, bathrooms etc.
The age of the home
How long the current owners have been there
Have they made any improvements
Size of land any other improvements
Ask what price range the owner(s) believe their home / property is in, by asking this you will be able to source previous statistics and brochures prior to your appointment. Prompt the owner by indicating broad price ranges if necessarye.g. $350,000 – $400,000/ $400,000 – $450,000
What approximate time frame would suit (when all decision makers are available)

Ask when is the owner considering selling e.g. buying or selling first
Ask if the owner have ever had a market appraisal before and if so, when. Were they happy with the outcome This will provide information into your competitors. The answers to these questions will reveal who they have spoken with and whether they had a relationship.
Ask what prompted the owner to ring Our Company
Ask when would it be convenient to meet with the owner(s). Make an appointment time to suit all decision makers.
Type confirmation letter and sign.
Send pre-listing kit and confirmation letter to prospective client.

The above are only general guidelines sales consultants with different levels of experience will have various techniques based on the above format. It is essential that these skills be practiced and developed to ensure future success.

Delivering Pre- Marketing Appraisal Kits

Purpose

This procedure contains the instructions for delivering Pre-Marketing Appraisal kits

Procedure

Once Pre-Market Appraisal Kit is complete, look up concerning property address in Melways
Arrive at address, wearing your name badge, and knock on front door/ ring doorbell. If prospective vendor is home, “Hi (name) my name is (name) from Our Company, how are you Here is some light reading about Leigh Maher (e.g.) who you will be meeting with on (day) at (time). If you have any questions please don’t hesitate to ask Leigh during your appointment”. (Close)

Market Appraisal Contents

Purpose

This procedure contains the instructions for presenting market appraisals.

Procedure

All the required information for a Market Appraisal has now been entered into the system so you can now exit out of this screen and will now need to type up the MA in a word document.

Typing Up The Market Appraisal in Word:

Firstly, go to the Market Appraisal Template
Open the new market appraisal
Enter the details in the gaps in the following format:

Mr D & Mrs J Smith

968 Main Road

YOURTOWN VIC 3000

(The suburb and state must be in capitals and bolded)

Dear David & Jodie

Property Address: (Property Appraised)

Fill in the gaps on the template version as stated on the Market Appraisal form given to you by the agent.

Some agents will often only fill in certain fields (Eg: comparable sales and not selling features or buyers or even perhaps comparable sales without descriptions).

If any of the fields are left blank or not filled in, we will assume that the agent does not want that included and delete that field or column or any additional dot points, where applicable from your copy.

NOTE – If you delete any columns from the Comparable Sales table always ensure that you do not have the actual table showing. To do so go to Format, Bullets and Shading, click on None and OK.

If anything has been removed or otherwise, always ensure that the spacing of the table and the dot points is neat, presentable and easily legible by adjusting spacing and width or columns etc. or adding a page break if the data on the 2nd page spills onto a 3rd.
When completing the final page (Professional Fees) there is are 2 options to either enter a number percentage for commission in the gap before the symbol, otherwise to state the commission percentage is negotiable. Once one is selected you must delete the other option from the template.
The Sales Manager to sign off on the final page of the report
Save Market Appraisal to data
Save the file as the property code which is the 1st three characters of address plus the 1st character of the R – road, S – street, C – crescent etc, followed by the street number ie; For 968 Main Road MAIR968. then the agent’s initials and the date. Eg; MAIR968.GB.25.05.2007
Print a draft copy of the Market Appraisal on plain paper and attach the original Market Appraisal input form submitted by agent and place it on the agents desk for them to check and make any corrections or changes.
Once the agent hands you back the draft copy of the MA, make any amendments necessary and either retrieve an MA kit from the stationary cupboard or print one out & add divider sections.
Now print out the Market Appraisal as follows –
1st Page: Letter Print onto Our Company Letterhead
2nd Page: Print onto pre-printed Estimated Market Worth page (included in the MA Kit) NOTE – if the data on the 2nd page is longer than a single page and spills onto a 3rd page, this page should be printed onto the follow on paper (purple shaded page with no heading included in MA Kit)
Final Page: Print onto Professional Fees page (included on MA kit)

At the start of each month Sales Secretary should print off an adequate supply of 3 additional pages that are required to be added to you MA and stock them in your stationary drawer. These pages are:

-Where our buyers come from graph

-The best address in local real estate

-Property Visits

The relevant month for this is whatever the previous month is to the one we are currently working in.

NOTE – For further instructions about how to obtain and update Internet hits refer to Realestate.com.au section of manual.

Land Map:

A land map of the appraised property will also need to be printed and placed in the bound Market Appraisal. This is obtained from the Real Estate View members website, under the PDOL Section.
Go to realestateview.com.au/members website and login (refer to passwords sheet)
Click on Search Sales Archive (PDOL) section
Click on Map IT and enter login (refer to passwords sheet)
Enter in the required fields the Property Number, Street Name and Suburb then click Search
Once map of property has been retrieved click on Print Property Details and a PDF version of the map will appear with some additional details
Print only the first page of this PDF document and attach to MA where stated below

NOTE – For further instructions about how to obtain information from PDOL refer to REIV/ realestateview section of manual

Our Company requires that all Market Appraisal Contents be completed and inserted in the following order:

(A Master Copy of a completed, bound Market Appraisal in filed in Sales Secretary drawer for a reference)

PP = Pre printed pages already included in MA kit

Our Company= Individual pages typed by Sales Secretary or inserted from supply

Front Cover

Covering Letter – Our Company
Contents Page – PP

Section 1 – Introduction

Our Company – The Advantages – PP

Section 2 – Property Report

Estimated Market Worth (1 or 2 pages) – Our Company
Methods of Sale/ Auction – PP
For Sale By Negotiation/ Private Sale – PP
Land Map of property from PDOL – Our Company
Where our buyers come from graph ( as instructed above) – Our Company

Section 3 – Marketing

Advertising Schedule – Our Company (Where requested by the agent)
Marketing Campaign – PP
The Internet – PP
Property Profile – PP
Open For Inspections/ Presentation – PP
Tips For Every Home Seller – PP
The Inside of Your Home – PP
Solicitor/ Conveyancer – PP

Advertising

DVL Layout – PP
The Age Newspaper – PP
Leader Newspaper/ Melbourne Weekly – PP
Signage Boards – PP
The Best Address In Local Real Estate (as instructed above) – Our Company
Monthly Property Visits (as instructed above) – Our Company

Section 4 – The Team

Profile of Agent Completing MA – PP (brought to the front by you)
Testimonials – PP
Remainder of Team Profiles (beginning with directors onwards) – PP

Section 5 – Professional Fees

Professional Fees – Our Company

Back Cover (With Our Company Address/ Contact Details On it)

Print Sales Archive Brochures from Realestateview:

( as per comparable sales on MA sheet)

Log on to www.realestateview.com.au/members

Refer to passwords sheet for log in details.

Click on Agency Sales Archive (REV)
Type in Street Name and then Number in boxes provided (you can do up to 3 at a time)
Click Search Historical Sales Archive
Click on the View icon for each property and then print out individual archive brochure
Once the first 3 are done, go back to the search screen as many times as necessary for all comparable sales listed
Place these print outs in front cover of bound MA (separate and unbound)

Binding:

Once all documentation are in their correct position you are ready to bind the MA
Place the front cover behind the back cover face up (as if you had turned the page over)
Section by Section place the spine of the MA in the binding machine and punch holes
Complete this process with the entire folder
Combine the document so that all holes are lined up and there is a clear passage through then glide the wire binding rings through holes to collate document
Market Appraisals should be bound in 8′ x 4′ or 9.5mm binding rings, so you must also ensure that the setting on the binding machine corresponds with this
After the wire has been threaded through, place the document in back section of binder and clamp, turn the front cover to front of document so that it is now a completed bound MA

NOTE – Most agents will require an envelope for the Market Appraisal, type a label with prospective vendor’s name and postage address and place on a large MA sized envelope. Do not seal envelope and hand to agent with bound MA, loose original copy (also field notes where applicable) and comparable sales print.

Market Appraisal Kits

Purpose

This procedure contains the instructions for Market Appraisal kits.

Procedure

Weekend staff are required to make up Market Appraisal kits for staff to use through the week for Market Appraisals.
If time permits, approximately 10 kits should be printed and collated

Preparing Market Appraisal

Purpose

This procedure details the arrangements for typing Market Appraisal reports

Procedure

Sales support types market appraisals for all sales consultants.

Once the Market Appraisal submission form is received, ensure all fields are completed by the agent, including the date and time required, contact details of the client (first and last name, telephone number, mobile email etc.), along with the bedrooms and bathrooms field and the expected price.

If any of these details or any other information is missing from the form it needs to be returned to the agent for completion. MA’s will not be completed without all the necessary information to enter into the system.

Note: Agents should allow a 24 hour turn around time for completion of MA’s from the time that it is handed to support personal to the time a full bound copy is returned.

Recording Market Appraisals

Purpose

This procedure contains the instructions for recording Market Appraisals

Procedure

Reception will send an email through to you each time that a call comes through requesting an MA
included in the email should be the full name, address and a contact number of contact that the MA will be completed for
Once you receive the MA check the surname and mobile number if you have one to check if they are already in the system
If they are not register in the system, you need to add them
Now if the contact was already in the system you click edit and check that the details are correct

Rental Property Appraisals Policy

Policy

Rental property appraisals must not be carried without prior knowledge of the Property Manager and Sales Manager. Our property manager is able to provide you with an accurate guide to rental value and any work considered necessary to make the property easier to sell.

Access to rented properties must take place in accordance with the Act and proper notice be given to the tenant. This is equally important with property managed by other agents.

Under no circumstances should a sales consultant attempt to offer a rental opinion of value.

A referral form will need to be filled in and passed onto Property Manager

Sales Appraisals

Purpose

This procedure contains the instructions for arranging appointments for Market Appraisals and follow up.

Procedure

Following the initial telephone call to request a market appraisal, a letter confirming the appointment

(incorporated with our pre listing kit) to inspect must be prepared and delivered to the prospective

vendors the same day.

All appraisals must be recorded on our Market Appraisal Form this form is then to be given to our sales secretary who will prepare your appraisal and record the information on the system.

Before conducting an appraisal the consultant must advise the Manager. The Manager will decide if

someone should accompany the consultant on the appraisal.

All consultants are expected to prepare thoroughly for any appraisal including checking recent sales in

the area, auction results etc. It would be wise to inspect the property’s street and surrounding area

before meeting with the vendors.

At the conclusion of your first inspection (appraisal) of the property a return appointment should be

made within 36 hours of the first meeting to hand deliver and discuss the market appraisal report. It is

crucial that these time frames be adhered to as the vendor motivation to sell is still very high.

If the vendor decides not to sell immediately then prompt, regular follow up is essential. Discuss with

the Sales Manager to help decide the most appropriate plan of action.

Who is authorised to list and appraise a property

Policy

This policy covers the personnel permitted to conduct sales appraisals and sales listings.

The law requires that only qualified people appraise and list property for sale. The company must assure the quality of its services by controlling the personnel who can offer this service.

Legal requirement

Only a licensed agent’s representative under the Estate Agents Act may appraise and list properties for sale.

Company requirement

Only a person whose job description includes ‘Sales Consultant’ may appraise and list properties for sale.

Trainees may appraise and list properties under the supervision of a Sales Consultant. This supervision includes a review of all recommendations before they are presented to the client. (See Office commission calculation for this instance)

After inspection advice procedure

Purpose

To advise the agent managing a listed property of an inspection at that property.

This procedure was designed to give the listing agent feedback on a buyer inspection conducted by a salesperson who is not the listing agent of a particular property. The result of this is that the listing agent is always the person who gives the buyer feedback to a vendor and therefore is fully informed of the history of the property listing

Procedure

SP returns from buyer inspection
- SP: open Outlook and enter MA’s email address in “To” field. If you have inspected more than one property send separate emails
- Enter property inspected address in subject field.
- In main body of email field enter the feedback from the inspection(s).
Feedback must include whether or not buyer is a positive or negative prospect on any of the properties inspected.
Send email to recipient before the end of the day (where practicable)

After settlement

Purpose

In this procedure, the Sales Administrator notifies stakeholders that the sale is settled, retrieves signs, returns keys, conducts a mail out to neighbours and closes the sales master record. This procedure starts when the Seller’s Solicitor/Conveyancer confirms settlement. It ends when the Sales Administrator closes the sales master file.

When the property sale is settled, the company can remove the sales listing and put it in the archives. This creates space for other sales listings and prevents confusion about whether the sales listing is still current.

Procedure

Sales Administrator

Receives settlement confirmation from the Seller’s Solicitor/Conveyancer
Completes the Sale Settled section of the Sales Record Sheet
Prepares notification letters to the Seller, Buyer, Referral or Conjunction Agent
Arranges for the Sales Consultant to sign the letters
Makes copies of the letters, sends the letters, and files the copies in the sales master file
Requests the Sign Erector to retrieve the sign and lock box from the property
De-registers the keys and sends them to the buyer
Updates the Sale Record and Checklist
Moves the sales master record to the settled sales storage area
Receives the testimonials and publishing permission from the Sales Consultant and files them

Sales Consultant

Signs notification letters on request from Sales Administrator
Requests testimonials from the Seller and Buyer, with permission to publish and to use their name.
Records testimonials and permissions for publication and gives them to the Sales Administrator

After the offer is made

Purpose

Once you have generated an inspection that has led to a party wanting to attempt to

purchase a property your job becomes much more academic. Offers should never be taken

verbally but nearly always on a written contract with a buyer having signed a section 32 and

left a deposit as discussed earlier.

Offers should always be communicated to all staff via the email procedure before

presentation to a vendor. Once the sale has been negotiated the responsibilities for

paperwork and correct advancement towards a settlement lie with the managing agent and

the sales agent.

Procedure

It is the sales agents responsibility to:

Get a name of a solicitor or conveyancer for instructions within 24 hours of the sale being completed
Follow up any special conditions with the buyer. i.e. arrange building inspection access and follow up a buyer who is waiting for finance approval
Follow up a buyer for the balance of deposit
Be available for final inspections
Ensure a gift and keys are ready for settlement day

The managing agent is responsible for:

Advising vendor of fulfillment of special conditions
Advise the vendor of payment of balance of deposit
Applying a ‘SOLD’ sticker
Return of keys and key safe to office
Follow up of section 27 after 28 days from sale

All of these events should be diarised in the sales person’s diary at the time of sale so that our service to our clients and customers is first class.

Authorities

Purpose

This procedure details the procedures applying to Authorities.

Procedure

Exclusive Private Treaty

When Authority is signed, Private Sale rules apply
All Sales Consultants and Listing Consultant must ensure their initial’s, purchaser’s name and contact number are written on the front of the file prior to acceptance of an offer to be entitled to make a claim for commission unless sold at auction, and the buyer registered in system with the viewings recorded.
No name shall be written on file until an inspection has been conducted with the purchaser.
A Sales Consultant may notify that a property is under offer by writing in (red pen) the day book the address of the property, proposed settlement date and that a deposit has been taken (minimum of $1,000 deposit and balance on acceptance), Section 32 and Contract Note prepared. Property may still be inspected while under offer.
When an offer is acceptable all sales consultants listed on the front of the file must be contacted. If they are absent then an independent consultant must have consent from all interested parties.

Otherwise the following alternative applies

When an offer is acceptable to the Vendor then the acceptable offer must be written in the daybook by 5.30pm that day. If not then all consultants must be notified by 8.00pm that night. If all sales consultants are unable to be contacted then the closing time for offers is held over for a further 24 hours. All sales consultants must contact their buyers for offers by 5.00pm the following day. Offers taken over the weekend can be closed until the next day, unless Public Holiday. If offers are to be closed in less than 24 hours it requires 100% acceptance by the sales team. All offers considered by listing agent and/or vendor. All offers must be signed up by 5.00pm unless otherwise agreed.
Listing Consultant not to ratify alone if an interested party and close offers possibly contentious and selling sales consultant may attend ratification unless manager decides to the contrary.
All losing buyers are not to be notified until after sale is ratified.
If agents do not follow these procedures, they may forfeit their commission entitlement.

Non Exclusive Private Treaty

The sale may be ratified immediately by any sales consultant.
All effort to contact other interested parties should be undertaken, however ratifying the sale is a matter of urgency. Advise Sales Manager of any issues with buyers.
The sales consultant may or may not notify that a deposit has been taken in the day book. If notice of deposit is written in the day book their buyer has first right of refusal as per Exclusive Private Treaty.

Audit Requirements for Authorities

The Auditor has picked up some areas we need to address when completing the Authority. We have also noticed recently there have been a number of situations which we could avoid by making some modifications to the way we complete certain areas of the authority and the contract note.

Authority period – Some files recently have needed a further authority signed after the sale as the period had expired. We cannot take our funds without a current authority.

The auditor advised that when we complete a new authority that this overrides the first one. Up until now we have been adding the two together in terms of additional advertising. This is incorrect. We must only use the information provided on the most recent authority regardless of the previous ones. This means we must have all the information correctly recorded on the current authority. We should not be getting the client to resign the first one we should complete a new one.

Property is being sold upon payment of……..The only box we should tick in this section is “full deposit”. The reason for this is these are binding clauses and if vacant possession or full purchase price are ticked this means we cannot take any funds until settlement, regardless of a S27 being received we have not fulfilled the other requirements of vacant possession or full purchase price.

Commission including GST – In this box we must always show the amount including GST and we must never cross out the words at the bottom of the box saying including GST. If you feel you need to show the calculation you can but the only figure the auditor/ACCC is interested in is the one including GST. For example if the commission is 2.5% plus .25% GST the total is 2.75% including GST. If we cross out the words including GST we can be fined $50,000 per offence from the ACCC.

We must advise clients the amount of advertising including GST also. You will need to refer to your advertising schedule at all times for the cost of each component of advertising. You need to make it very clear to the client the advertising is an expense they are agreeing to pay which is not dependant on the sale of their property. They become liable for the advertising expenditure as soon as we have expended this money; although we allow them to pay from settlement funds should it sell. The number of clients who withdraw their properties and think we have a” no sale no pay” policy is alarming.

Also the clients believe it is OK to withdraw from us and list with another agent and we should wait until the other agent sells and settles before we get our advertising. We do not and can not legally make money on our advertising expenditure. We have to pay our advertising accounts within 30 days, so it is the company who is carrying the cost of advertising which is not paid. We are about to introduce a caveat on their property should they not pay the advertising costs.

Contract notes – Legally we are obliged to refund any deposit made where the sale is not proceeding. To do this there are a number of other requirements we must have. Firstly we need to be given the file with clear directions to say NPW. Secondly if you have written on the contract $1000 then you must have taken the $1000 deposit. An auditor will not accept a document that says deposit paid without seeing a corresponding deposit having been receipted and banked into our trust account. Legally as part of trust funds we are required to bank within 24 hours of receiving funds. It would be preferable if agents did not advise clients they can have their cheque or cash back; if this situation arises then accounts should handle the enquiry. I say this because generally we bank at a certain time but depending on staff absences or meeting etc this may not be the case and has caused problems in the past.

Amount of Deposit – We currently have two situations where clients have pulled out of deals and needed to pay the .2% cooling off fee. The deposit we took was not enough to cover this and the clients have not been forthcoming in providing the difference. The auditor suggested we have a standard policy where the deposit is .2% or greater of the purchase price and this will overcome any future concerns.

The auditor has advised me must not quote more than a 10% range on the authority. This is different to the 15% range we can quote on Auction ESR.

When we complete the manual Sales receipts we must never put the Bank Cheque details in the first line that asks “Received From, this is the actual person that the money has been received from.

Cancelled Sales

Purpose

This procedure applies to all cases of cancelled sale.

Procedure

If a seller cancels a sale, it is important to understand how and why this happened. If it is possible to

rescue the sale and have it proceed, then the sales team must do this. In most cases, the Seller and

Buyer still want to sell and buy property. To provide quality service, the company must be able to respond to the cancellation and continue to help the clients sell or buy according to their needs

If there is no written contract, the seller generally informs the Sales Consultant verbally. If there is a

written contract, the Seller or the Seller’s Solicitor must notify the company in writing about the

cancellation. The Seller may cancel the sale by agreement with the Buyer or because the Buyer or Seller have not met conditions of an agreement or the sales contract.

Sales Consultant

Examines the situation and tries to find a way to rescue the sale so that it can go through
(If the sale can go through), tells the stakeholders
(If the sale cannot be rescued):
(If the Buyer has paid a deposit) Works out whether this is refundable (If the Buyer has defaulted, see ‘When the buyer defaults’)
(If the deposit is refundable) Asks the Manager to authorise the refund
Negotiates re-listing with the Seller, repeating the sales presentation and sales listing procedures as required
Updates the Sale Record and Checklist

Sales Manager

Authorises the refund of the deposit if required

Trust Account Administrator

Refunds the deposit if authorised

Deposit Taken and Under Offer

Purpose

This procedure details the actions taken when a deposit is taken and the property is under offer.

Procedure

Consultants have a legal obligation to submit all offers received to each vendor via the listing consultant.
After advice of acceptable offer or deposit taken the sale must be negotiated within two (2) full days. If negotiations fail to be completed within the two (2) day period, then property must be written up in the daybook (red pen) as on the market, unless further time has been requested from the Manager and advised in the daybook.
A property cannot be put under offer or deposit taken a second time by the same purchaser unless offer is higher and vendor is prepared to accept a lower price than previously.
Any subsequent under offer or deposit taken by another purchaser must be at a higher price than offered by previous purchasers unless vendor has indicated he will accept a lower price.
All acceptable offers written in the daybook must disclose preferred settlement of vendor or any variations.
Deposit Bonds are not to be accepted unless approved by Directors and Vendor. Each application pertaining to such a bond will be reviewed on a case by case basis.

Email Sale Sold Advice

Purpose

This procedure contains the instructions for emailing Sale Sold advices.

Procedure

The Listing Agent opens email and sends a bulk email to all Sales Agents
In the Subject section, enter the words ‘PROPERTY SOLD’
In the main body, write the address of the property with advice on the sale price and the date by which the property becomes unconditional
If the property does not become unconditional the Agent must send an email to all Sales Agents with ‘BACK ON THE MARKET’ in the subject box and the details of the property including price.

Forthcoming Sale/ Auction Spike

Purpose

This procedure contains the instructions for erecting Sale/Auction spikes on a property

Procedure

Forthcoming Sale or Auction spikes are to be placed before the board.
When the property is listed and you have checked with the vendor that they are happy for you to put a spike up (some will want to wait till they have completely prepared the property for sale/auction)
When photographing the house, take key safe and Auction or Forthcoming Sale spike with you.
If you want the board to face an intersecting street, angle spike accordingly and that will help board installer understand the position of the board.
Do not place spike on nature strip, neighbouring property or obstructing sight of traffic.

Guidelines on giving out property information

Purpose

This section explains the rules for giving out information about a listed property.

The company is bound by the Privacy Act and has a privacy policy. If the company discloses information about a client without permission, the client can take legal action. It is very important to have privacy rules.

On the other hand, buyers and sellers like to know a little about each other, and it may help the transaction for this information to be available.

Procedure

The marketing plan includes information about the Seller that the Sales Consultant may disclose.

A written offer may include information about the Prospective Buyer that the Sales Consultant may disclose.

All staff must observe the privacy policy.

Obtaining and Presenting Offers

Purpose

This procedure applies to all offers for property sales.

Inviting and presenting offers is a key activity in the company process. Working with offers is like building a bridge between the Potential Buyer and the Seller. Sales Consultants can succeed with a sale if they work with sensitivity, respect, honesty and understanding.

Procedure

Tips for inviting offers

Lead the Potential Buyer. Do not pressure or force them.
Most buyers are inexperienced, so they appreciate being led (but not pushed).
Be aware of buying signals. For example, questions about:
The transaction, such as the length of settlement required.
What comes with the property.
Use leading questions to encourage an offer, such as ‘If you bought the property would you need

Offers in writing

Put offers in writing on a Contract of Sale.
If it is an Auction Property, ensure Buyer seeks Legal Advice
As they negotiate the price, both parties initial the changes on the contract.

Presenting offers

Always present offers in person, never by telephone.
If possible, have all decision makers present when you present the offer.
Do not withhold information that the Seller may not like. Present the offer in a straightforward factual manner.
Listen carefully to the Seller’s response.
Advise the Seller about negotiating:
Benefits and problems of negotiating
Potential for negotiating in this particular case.

Negotiating

Make sure you understand ‘where each party is coming from’-their needs, strengths and limitations.
Do not give an opinion of one party in the presence of the other.
Remember that you are building a bridge, not running a competition.
Give impressions of negotiation potential
Do not carry out negotiations after 10 pm.
In your dealings with the parties, aim to end up with two lifelong clients.

When a property is under offer, marketing & inspections continue, until a binding Contract is

available.

What constitutes an offer

A minimum of $1000 deposit has been paid & receipted to the trust account.
The purchaser has signed paperwork. Contracts, if Section 32’s are available

All offers taken under the above conditions must be presented, where possible, by the close of

business on the same day. Once a property, meeting the above criteria, is ‘acceptable offer’ it is then

up to all agents to contact interested buyers and give them all the opportunity to make an offer to

purchase as well. These properties that are under offer continue to be marketed and inspected

until sold. This is in the best interests of the vendor. Final offers will close at 5pm the next business day if Auction property and next day if Private Sale.

Before writing up an offer, you should consult with the managing agent. The managing agent can

update you on the ‘readiness of the Vendor’ to accept any such offers. There is a requirement by

all team members to acknowledge that a sales campaign can be greatly affected by taking offers

‘too early’ in the program; (especially an Auction Campaign). As previously stated, COMMON

SENSE MUST PREVAIL- Communicate with the managing agent whenever possible.

If there are two offers, both buyers must be told that

they are competing with another buyer.
they may not get a right of reply/counter offer from the Vendor
that if we call them and tell them they have missed out for as little as $50 that they accept
that they have given their best offer! Ultimately, they must submit their biggest/best offer!

An under offer form is available for purchasers to sign to acknowledge that there are other

offers on the property.

All written offers MUST BE PRESENTED IN PERSON to the Vendor where possible. Vendors

who are interstate, overseas or in country Victoria will need to have access to a fax machine for

signing.

In all situations negotiations should be sped up to minimize delays and controversy. Your

manager is available to assist you! Common sense also should prevail in any submission of

offers. The managing agent will have a strong influence in any negotiations. They know the

Vendor and their wants and needs and can tailor the presentation of such an offer to maximize

the successful completion of the negotiations.

Organising and exchanging contracts

Purpose

In this procedure, the Seller and Buyer exchange contracts. The Sales Administrator records the exchange and notifies stakeholders. This procedure starts when the Seller and Buyer agree to exchange contracts It ends when stakeholders have been notified.

Exchanging contracts is a legally sensitive process. It is extremely important that staff members communicate clearly with the people involved and follow procedures exactly so that there are no problems with the transaction.

Procedure

Sales Consultant

(If the Agent conducts the contract exchange) Gives the contracts to the Sales Administrator
Signs notification letters on request from Sales Administrator

Sales Administrator

(If the Seller’s Solicitor/Conveyancer conducts the contract exchange) Receives written notification from the Seller’s Solicitor/Conveyancer
(If the Agent conducts the contract exchange) Receives the contracts from the Sales Consultant
Prepares notification letters to the Seller, Buyer, Referral or Conjunction Agent
(If the Agent conducts the contract exchange) Prepares notification letters to the Seller’s Solicitor/Conveyancer and the Buyer’s Solicitor/Conveyancer
Makes copies of the letters, sends the letters, and files the copies in the sales master file
Updates the Sale Summary checklist

Prospective buyer inspections 1

Purpose

In this procedure, the Sales Consultant takes a prospective buyer through a listed property. This procedure starts when the Sales Consultant makes an appointment with the buyer for the inspection. It ends when the Sales Consultant records the results of the inspection.

Prospective buyer inspections are a central part of selling a property. Sales Consultants must make the most of this opportunity to help the prospective buyer evaluate the property and to remove any obstacles or objections that they raise. Be careful to maintain the privacy of the Seller or Existing Tenant.

Procedure

Accompanying the Prospective Buyer

Accompany the Prospective Buyer on an inspection at all times.

Sales Consultant

Makes sure that the Prospective Buyer has been qualified.
Checks any notifications and sales listing details for available inspection times and how much notice is needed before an inspection.
Makes an appointment with the Prospective Buyer for the inspection
Notifies the Seller of the inspection
If required, notifies the Existing Tenant of the inspection usually with 24 hours notice unless the tenant agrees to another arrangement
Offers transport to the Prospective Buyer if this is appropriate
Brings the brochure about the property
Leaves a card at the property as notification of the visit
Records the Prospective Buyer’s comments about the property and its price
Send after inspection advice to the managing agent
Follows up the Prospective Buyer after 24 hours

Offer and Acceptance

Purpose

This procedure applies to all private treaty property sales.

When the seller accepts an offer, you need to treat the property as if it is off the market. Inform all

stakeholders so that they do not take any further action towards the property sale. If you fail to do this, you could cause inconvenience and annoyance. Clients who experience this may not want to do further business with you.

Procedure

Sales Consultant

Completes sends an email to all staff advising that the property is sold.
Sales person provides sales administration with the signed contract and vendor statement together with the purchasers details and their legal representatives details

Sales Administrator

Prepares letters to;

The seller
The seller’s solicitor
The buyer
The buyer’s solicitor
Ensure that there are copies of all letters kept in the sale file
Sends the letters by post or fax or delivers them
Files copies of the letters in the sales master file
Updates the Sales summary checklist

Property Alterations

Purpose

This procedure contains the instructions for making property alterations and ensuring that all documents and files are changed.

Procedure

Write alteration in day book (red pen only)
Change ad and internet (notify Sales Secretary /Advertising Coordinator)
Change window card (notify Sales Secretary)
Complete procedure for changes to advertising
Update stock sheet at reception
Update brochures if applicable

Qualifying Buyers

Purpose

This procedure applies to all contacts with prospective buyers who are available for interview.

All people who telephone or visit the office with an interest in property for sale are prospective buyers and sellers. Sales consultants must capture information about their needs and assess their motivation

whenever possible. This is an important way of gaining new clients and finding buyers for sales listings.

Procedure

Sales Consultant

Welcomes the client
Finds out and records the following;
- Name
- Contact number
- Type of property they want
- Price range
- Do they need to sell before buying
- Do they have finance or are they likely to easily get it
(If the client has telephoned and wants to see a particular property) tries to arrange an interview before giving the address

Reporting to Vendors

Purpose

It is critical that all our vendors are fully acquainted with all circumstances surrounding the sale of their

property throughout the marketing campaign for all scheduled private sales and auctions. This procedure details the actions for reporting to Vendors.

Procedure

As a minimum, the consultant is expected to:

Speak with each vendor three times a week
Provide a written report on a weekly basis

As well as constant verbal reports and meetings with vendors, consultants must leave an open for

inspection form and buyer report form with comments every time they inspect a property.

Reviewing an inspection with a prospective buyer

Purpose

In this procedure, the Sales Consultant reviews an inspection with the Prospective Buyer. This procedure starts at the end of the inspection or ‘open for inspection’ when the Sales Consultant asks the Prospective Buyer for comments. It ends when the Sales Consultant has passed on the Prospective Buyer’s comments to the Seller.

Educating the seller as to the state of the market can assist future negotiation.

Procedure

Sales Consultant

At the end of the inspection or ‘open for inspection’ or within 24 hours, asks the Prospective Buyer for their views on the property.
Communicates the Prospective Buyer’s views to the Listing agent (See after inspection advice procedure)

Sales to Foreign Nationals

Purpose

This procedure contains the instructions for sales to foreign nationals.

Procedure

Extreme care must be taken when selling residential properties to foreign nationals. The Foreign

Investment Review Board (FIRB) administers a complex foreign investment policy; consultants

should be well aware of it and its ramifications.

Our Company proforma is to be completed as part of the special conditions, if you are selling to a Foreign National.

The application form for the FIRB can be found on their website.

Section 32- Vendor Statements

Purpose

This procedure contains the instructions for dealing with Section 32 statements.

Procedure

Section 32 statements are to be signed and dated by the vendor(s).
Under no circumstances will the section 32 statements be signed by the directors on behalf of the vendor.
Once the signed copies have been received from the vendor or vendor’s solicitor, they must then be given to the Receptionist.

Sold Property Script Policy

Purpose

This procedure contains the script to be used when an enquiry is received for a sold property prior to the sale becoming unconditional.

Procedure

At no time is the sale price to be given to the prospect prior to the property sale becoming

unconditional.

Buyer: Hi I’m calling in relation to the property at XYZ.
Agent: Thank you for your enquiry may I ask how you knew that property was for sale
Buyer: I saw it via XYZ advertising.
Agent: That property currently has a contract on it that is, at this time, not unconditional. Can I take your details and contact you should the property come back on the market
Buyer: Details etc.

Agents will at this point then go down the path of qualifying the buyer and finding out if any other listings are suitable.

Sold Stickers

Purpose

This procedure contains the instructions for the application of SOLD stickers.

Procedure

When a property has sold, you may be asked by the Agent to place a SOLD sticker on the board
Place the SOLD sticker in the centre of the board, like a tick on a slightly less angle to this line ¤ , this will cover the photos not the text.

Targets for Sales Team

Purpose

This procedure contains the instructions for establishing targets for the Sale Team.

Procedure

Targets apply to all Sales Consultants.

Supervisors set individual targets for trainees according to their stage of development.

Each office and each individual sales person will have goals for the month, quarter and year. Without a goal being set for all aspect of your business success will be impossible to achieve.

Targets will be for prospecting, appraisals, listings, sales and income.

Goal setting is a useful motivator for sales staff. It provides a yardstick for performance and makes staff accountable for their time.

For best staff morale it should be a form of encouragement and a ‘game’. It should not carry a threat of dismissal for under performance in itself. It may help detect under performance that management and the staff member can reverse through communication and professional development.

Each Sales Consultant conducts at least twelve- sixteen sales presentations every four weeks.
Sales appraisals and presentations have a one in six strike rate of listing on the spot
Sales People should list approximately 2-4 listings every month
Sales listings have an eighty percent strike rate, leading to three sales every four weeks.

Tracking Sales

Purpose

This procedure contains the instructions for tracking sales.

Procedure

It is necessary to track each Sale to Unconditional stage, completing proformas and confirming deposit.
Make a note in diary when the sale is unconditional, the following day put up the sold sticker.
Each day, since selling the property, keep checking receipt book at your office to determine whether the remaining deposit monies have been paid (when money has been received ring purchaser and thank them, ALSO ring the vendor to let them know)
If the money has not been received, check with your agent to determine whether they have heard anything from the purchaser.
If he/she has not heard anything, ring purchaser to see when they are paying the remainder of deposit.

Vendor Weekly Contact

Purpose

This procedure contains the instructions for contacting the Vendor on a weekly basis.

Procedure

Contact your vendors more than once a week.
There are a number of reasons why you may make contact with your vendor for example;
- open for inspection times (beginning of the week & end of the week confirming)
- talking about marketing (e.g. board looks great or ad in paper)
- maybe any buyer updates
Contact Vendors on Monday to advise of OFI time, numbers at inspections on the weekend prior, interest indicated during sales meeting by Agents other than the Presenter/ Listing Agent

When a buyer defaults

Purpose

In this procedure, the sales team responds to instructions about a buyer default. This procedure starts when the Sales Consultant receives notice and instructions from the Seller’s solicitor. It ends when the sales team carried out the instructions.

If a buyer defaults on an aspect of a sales contract, the Seller gives instructions through their solicitor about the action to take. The sales team must follow these instructions exactly, asking the Seller’s solicitor to clarify if they do not understand. Do not refund the deposit unless the Seller gives written instructions and the Manager authorises the refund.

Procedure

There can only be a buyer default if there is a written contract. If the buyer defaults on an aspect of the contract, the Seller’s Solicitor notifies the company in writing and gives instructions.

Sales Consultant

Follows written instructions from the Seller’s Solicitor
Does not follow instructions unless they are in writing
If the deposit is refundable, see Cancelled sales

After Sales Service

Purpose

A consultant’s continued supply of future listings is largely dependant upon the extent and quality of service rendered to clients after a sale has been completed.

Procedure

Customers are particularly sensitive to lack of follow up after a sale and prior to settlement but follow up must be continued on a regular basis to build a relationship on which future business can be gained.

As an absolute minimum the consultant is required to contact both vendor and purchaser at least three times between the sale date and settlement date. Settlement date should be diarised so that you can personally schedule time to congratulate your clients on their purchase and present them with a small gift. It would be wise to make a note to follow your clients up in 3 months time.

These follow up contacts are all specific tasks that must be completed.
- Our Client Services coordinator contacts both the vendor and purchaser after the sale to congratulate them and ask for feedback on the service they received at Our Company. A survey is also posted out for their comments.
- Current names and addresses of both vendors and purchases will be updated by our Client Services coordinator on our data base for future receipt of newsletters, Christmas cards, anniversary cards etc.

Building long term relationships with clients

Purpose

In this policy, the sales team builds long term relationships. This procedure is on-going.

On-going customers are the most valuable of all. The company has given them good service in the past and formed a relationship with them. These customers are likely to recommend the company to their friends and are an on-going source of new business. There are huge benefits in creating long term relationships with customers.

Procedure

All clients

Take trouble to remember clients personally, including something about them
Give impeccable service
Let the client know that they are important
Do a brilliant job of understanding the clients needs and preferences
Keep in contact with clients as directed by prospecting matrix
Send Christmas cards to clients who have an on-going relationship with the company

Unsuccessful buyers

Work to find a property for them
Contact them every month to see how they are going until they have purchased a property, moved out of your area or find another solution

Investors

Investors have many different views. Get to know the viewpoint of clients who are investors and become an enthusiastic team member in working for their goal.
Take care when you discuss other investment ideas with these clients. On one hand they may not want to be distracted from their goals. On the other, they are hungry for information. Concentrate on what you know best-the property market in your area.
Investors who are satisfied with your service will come back faster than a home owner. Contact them every three months to see how they are going.

Business Development Areas Policy

Purpose

Business Development Areas (BDA’s) are developed to ensure that prospecting is done in an orderly manner and covers all streets in our core territory.

Once a sales team size starts to increase the need for structure and rules controlling prospecting activity is required to reduce any conflict between colleagues.

BDA’s are typically between 1000-1500 households.

Policy

Activities only to be performed in your BDA are as follows:

Board prospecting
General mail
Prism letters
Delivery of personal profiles
Phone prospecting
Any general distribution of flyers

Activities which may be performed in colleagues BDA are as follows:

Listing agent may drop “Just Listed”, “Just Sold” & “Invite to OFI” flyers
After Market Appraisal droppers (Dear neighbour)

Other rules:

All office appraisals are to go to BDA’s first and then other agent if BDA agent is not in that day. It is imperative that appraisal inquiries are followed up that day.
Office telemarketing is to be distributed by BDA after a check of the office database is done. If the contact is on the office database it is then given to the sales person who has that contact entered.
Quarterly newsletter & letter will go to database contacts of each agent regardless of BDA.

All flyers must in as many cases as possible carry the salespersons photograph.

No marketing material is to be distributed without having first been proofed by the sales manager.

Handling a telemarketing lead

Purpose

To handle telemarketing leads efficiently

Procedure

Sales manager to receive leads
Sales manager to distribute immediate leads to sales people on rotation
Future leads entered into database system – card sent & event diarised by sales manager
Sales person calls immediate leads & makes MA time
Sales person enters lead into database
Appraisal done
Sales person to advise the sales manager if not appraised by email

Managing Telemarketing Reports

Purpose

The purpose of this procedure is to efficiently distribute telemarketing reports to the respective sales people.

Telemarketing reports are received from professional telemarketer on a weekly basis via email as a Excel file.

Procedure

Report received on email
Open excel report and re-arrange prospects into two groups. Those which are to contact immediately and those which are future programmed
Then re-arrange immediate contact prospects by suburb
Save the document into the telemarketing folder
Print out spreadsheet of contacts
Cross reference prospects by street with the BDA street list
Write relevant sales persons initial beside each contact
Copy and paste immediate contacts to Agent allocation list
Select, copy and paste prospects for one sales person at a time into an email to the individual sales person. (All prospects should be sent in the one email)
Put “Telemarketing” into subject box of the email
Send to sales person
Complete the previous three steps for all sales people who are to receive telemarketing
Overwrite the telephone number with the sales persons initial in the agent allocation list with the number of the prospect that the sales person has received. The last recorded number is found at the bottom of the allocation spreadsheet
Overwrite the comments with the date the email was sent
Save and close the agents allocation file
Go to the recording of future planned telemarketing leads procedure

Prospecting Strategy

Purpose

In this procedure, the sales consultant conducts prospecting campaigns. The procedure also

explains the purpose of prospecting.

This procedure starts when the Sales Manager constructs the prospecting plan for the year.

It ends when the prospecting is complete for the year.

Procedure

Prospecting is vital for expanding the company’s operation and gaining new customers.

Through prospecting:

More members of the community come to know the company.
The company uncovers new clients with immediate or future needs for the services.

Aim of prospecting

Locates new prospective sellers and invites them to have a sales appraisal and presentation.
Raises the profile of the company by educating the community about its services.

Sales Manager

Sets prospecting targets for the year
Creates the Annual Prospecting Plan
Supports the Sales Consultants in prospecting, by:
Ordering printed materials
Conducting mail outs
Organising letter box drops

Sales Consultant

Carries out the prospecting plan, including:
Telemarketing
Door knocking
Letter boxing
Preparing brochures and letters

Prospecting Plan

Foundation prospecting

Every three months, on a rotating basis so that some work is done each week

Contact the owners of every property using:

Direct mail
Letter box drop
Telemarketing
Door knocking

Prospecting after a sales listing or sale

Deliver 25-50 cards or letters or brochures to neighbours after the company:

Signs an exclusive agency agreement for a sales listing
Brokers an unconditional sale
Is about to conduct an ‘open for inspection’
Is about to conduct an auction

Prospecting hot spots

Every three weeks, the sales team conducts a hot spot meeting. This meeting decides on

‘hot spot’ areas to receive more intensive prospecting activity

To prepare for the meeting:
The Sales Administrator collates sales listings data to identify streets or areas with the highest concentration of sales listings, sales appraisals and presentations.
The Sales Consultants prepare recommendations for the hot spots based on their current observations.

After agreeing on the hot spots, the Sales Team:

Sends a personally addressed letter or brochure to each property owner
Between one and two weeks after the mail out, Sales Consultants follow up every property owner with a personal visit, telephone call or brochure in their letter box
Between one and two weeks after the first follow up, Sales Consultants conduct another follow up of a different type (for example, first follow up is a telephone call, second follow up is a personal visit.

Telemarketing Policy

Purpose

To detail the telemarketing policy of the company. The research of the company shows that many leads can be created from effective telemarketing. The company use professional telemarketers to ensure the most efficient results. It is the policy of the company that sales people are not to telemarket but are better to focus on negotiating sales and listings.

Procedure

When a report is received from a telemarketer the information must be given to the sales person who is responsible for the BDA that the prospect lives in.

Follow the Managing Telemarketing reports Procedure.

Commission – the lead component will be 10% for the company.

Testimonials

Purpose

To provide a standard approach to how and why we use testimonials.

Testimonials provide evidence of satisfactory dealings with the company. The evidence is made more powerful because it comes from ordinary customers. Existing customers are the peers of the new customers who read the testimonials. These new customers can relate to the testimonials because they are from similar people.

Evidence of satisfactory dealings with the company:
Enhances the company’s reputation
Motivates staff to provide exemplary service, so that they will receive a good testimonial

Procedure

Customer Service Manager

Records on a register the fact that we have received a feedback form
Files all testimonials

Builders

Purpose

All sales consultants have free contact with builders regarding listings and sales. However, it is

recommended that all conversations are reported to the listing consultant and it is preferential to have the listing sales consultant ratify the sale whenever possible.

Responsibility of the Listing Sales Consultant:

To contact the builder weekly
To update the stock list weekly
To collect plans and Section 32’s and distribute these
Provide a list of vacant land owned by builder
To contact the builder within 7 days of any new listing; otherwise any sales consultant may introduce and sell to that builder
Promote the builder by writing advertisements and ensuring exposure in the window and media where appropriate
Endeavour to erect For Sale boards and Sold signs wherever possible

Buyer communication

Purpose

In this procedure, the Sales Consultant maintains regular communication with prospective buyers. This procedure starts when a Sales Consultant identifies a prospective buyer. It ends when the buyer buys a property or is no longer interested in buying property.

You need to keep in regular communication with prospective buyers because:

They need to know that you are working for them
Their needs and requirements may change without your knowing. For example, they may have bought a different property or changed their price range

Procedure

Sales Consultant

Keeps a diary of all contact with the prospective buyer
Contacts the prospective buyer at least once a week to record viewpoints

Buyer Inquiry Source Recording

Purpose

Enter the purpose of this policy or procedure.

Example:

In this procedure the Sales Consultant and the Vendor sign the agency agreement and the Sales Administrator checks and records it. It starts when the Vendor agrees to enter the agency agreement. It ends when the Sales Consultant sends the agreement confirmation to the Vendor.

These two questions can help you formulate this section:

By implementing this Policy or Procedure/Rule what known Pitfalls am I trying to avoid in the future

Usually a reference to past situations

e.g “On occasions and despite our good intentions when a sale has fallen over through no fault of our own, the seller has become angry that we have taken the property of the market prior to contracts being signed by the purchaser thus missing out on other potential buyers. Needless to say our professionalism was put into question”

By implementing this Policy or Procedure/Rule what known Opportunities am I trying to exploit in the future

Usually a reference to past situations

e.g “We have found that by presenting all offers in writing and in person our chance of success increased by 50%”

Procedure

What procedure and/or rules apply

Example:

Sales Consultant:

Does this

Then this

Sales Administrator

Commission information

Purpose

The following statements detail the policies and procedures for dealing with commissions, commission rates, discounts and special arrangements.

Commission – Buying

Any buying commissions that are negotiated with clients must be properly authorised and adequately

documented. Approved REIV authority must be completed.

Commission Discounting

The practice of reducing commission to offset advertising incurred by a vendor is not acceptable unless

prior approval is given by the Directors. Discounting will incur costs to both the company and the listing consultant.

Any attempt to discount commission should be discussed in the first instance with the Directors and will not be considered unless the following criteria apply:

Property is listed at the company’s standard commission rate or better
The giving of a discount is judged in terms of its flow-on effect to acquire additional listings
The current level of listings within an office is such that the use of this technique will increase the general level of listings

It is incumbent upon the Directors and sales consultants to ensure that such discounts are not perpetuated and are used only in special circumstances.

Commission – Incentives

The incentive scheme is intended to reward those who earn commission in excess of the “average”. In line with normal business practice, the company reserves the right to amend and/or remove this payment arrangement.

Commission – Negotiation

In a deregulated environment, all sales commissions are negotiable and this fact must be made clear to vendors before any authority is signed.

The company’s preferred rate of commission is 2% to 3% of the sale price. Depending on circumstances the commission rate may be varied, but is conditional on Directors consent.

Unconscionable rates of commission shall not be negotiated with vendors and management shall be the final judge of “unconscionable”, taking into account all of the circumstances of the listing.

The practice of reducing commission rates to offset advertising incurred by a vendor is not acceptable unless prior approval has been given by the Directors.

Listing consultant’s commission will only be granted with the approval of a Director and may not be promised without prior consent.

Commission – Referrals

Referral commission, paid to a consultant as a result of finance provided to a vendor or purchaser, shall be in the first instance paid to the company. Consultants must disclose to vendors and purchasers that they may be entitled to a referral commission form the finance provided. Failure to do so may make the claim invalid for the referral.

Referrals to another agent will attract a 80/20 arrangement, and a referral form must be completed.

Consultant’s who successfully arrange finance will be paid a commission for such a referral. The payment of such commissions will be made via the payroll system and therefore the appropriate tax will be deducted.

All Finance Referrals are to be directed by Our CompanyFS.

Commission – Sale of Property for staff and families

The company policy is to allow a discount on commission charged to staff and their immediate family when selling through Our Company.

Provided the initial rate of commission charged is 2.5% a discount of 40% should be allowed for sales of staff owned properties and 25% when selling properties owned by their immediate family.

All commission payments to sales consultants will be based on the actual discounted commission charged to the owner.

Commission – Scale Property Management

Currently a one off incentive (50% of the letting fee) is paid to all staff who introduces a property to the rent roll. A property that is introduced to the rent roll by a sales consultant when it becomes available for sale is to be managed by the introducing consultant, if still in the company’s employ. A referral form should also be completed in this instance in order for commission to be paid.

Commissions – Secret

Secret Commissions are illegal under the Crimes Act and any staff member accepting a secret commission is liable for dismissal. Any legitimate commission earned by consultants will be properly accounted for by the company in the normal manner.

Conducting sales meetings

Purpose

Add spark to your sales meetings

By implementing this Policy or Procedure/Rule we are trying to avoid:

Boredom – by having the same person run the meeting
Repetition of the same old thing
Compulsion to attend

Procedure

Give every sales meeting a theme such as Improved Open Homes, The Listing Strike Rate, Effective Advertising.
In addition to those regular agenda items, ask somebody to speak for 15-30 minutes on the week’s theme. The speaker can be from within the office or an outside expert.
Promote the theme and the speaker to all personnel well in advance.
Change the chairperson ever week. Let the team share the responsibility for conducting a productive meeting.
Change the agenda order every week.
Run each meeting for a minimum of 45 minutes and a maximum of 60 minutes.
Start and finish every meeting on time. Lock the doors after the start and do not let latecomer’s enter.
Make attendance voluntary. The meeting must be worth attending every week. Those who don’t attend effective meetings will have demonstrated by their lack of attendance that they do not value being part of the sales team.
Change the room layout regularly. Some of the options include classroom style, horseshoe, theatre style, square etc.
Go to an outside venue at least once every six weeks. For example, hold a breakfast meeting at the local cafe or book a function room for a luncheon meeting.
Have a non real estate sales speaker four times per year, e.g. building wealth, a local charity, health and fitness, travel deals.
Invite all personnel – the administrative, clerical and property management team should feel welcome to “sit in” on all sales meetings when they have time.

Data Entry rules

Purpose

To enter the absolute minimum contact data in the database. It is the responsibility of each sales person to enter the data and ensure it is correct.

Procedure

SP opens Database and goes to the “Retrieve” screen
Select the blue icon in the top toolbar to add a new customer
Select “YES” when asked if you want to continue creating a new customer. A new blank record will be created.
In the first merge field at the top left select the contacts “Title” (i.e. Mr, Mrs etc)
Enter Last Name & First name
Enter all the telephone numbers you have
Enter customer’s full address. Do not omit any address fields if the customer is a potential vendor or past client.
Select the “Other” tab
Select the category/s of the contact
Select the source/s of the contact
Select the save icon near the top middle of the customer card, this will open the customer contact window.
Select “OK” to close
If the contact is a potential vendor select the “to sell” tab
Select “add property” on the right hand side of the screen
You will now be asked whether to copy the customers address or not. If the property to be sold is the address you entered in step “vii” select yes, if the property is another address select no
If you selected yes the address details will be automatically entered in to the property screen at the bottom
If you selected no, enter the property address in the blank property screen
Select the “status” tab
Change the status to appraisal and enter the date of the appraisal in the status date field
Enter your estimate of value in the field provided. This must be written as a 6 digit number with no commas. ($400,000 is written as 400000)
Select the save icon. Other property details may be entered now.

Directors Guarantee and Indemnity

Purpose

The following procedure outlines the conditions for obtaining a Vendor or Purchasers Directors Guarantee.

Procedure

A Vendor Directors guarantee should be used when a property is listed for sale where a company is the

owner of that property.

Both Directors or a Director and the Secretary should sign the guarantee.

When the guarantee has been signed, it is necessary to attach a copy of the authority agreement. It is also “preferable” that the witness to the agreement is not the listing or selling agent.

A Purchasers Directors Guarantee must be considered when a property is purchased by a company.

See Vendor Directors Guarantee Directors Guarantee.doc.

Discipline

Policy

The success of our sales team depends greatly on our consultants’ ability to work together as a

true team. Accordingly the cooperation of everyone is required to ensure continued success.

Where a consultant fails to adhere to accepted guidelines, the Sales Manager shall be responsible for resolving the situation.

If there is a failure to resolve the problem, the matter shall be dealt with by the Sales Managers.

Disputes- External Agents and the Public

Purpose

The following procedure details the necessary actions when a dispute arises with an external agent of a member of the public.

Procedure

Disputes with external agents should be avoided at all times. In the event that a dispute arises the matter should first be discussed with Sales Manager and, in the case of a serious dispute, the support of other directors should be enlisted.

Depending on the situation, the Sales Manager may dismiss the complaint or arrange a face to face meeting to seek an explanation and resolution to the matter.

The Sales Manager must ensure that the consultant, who has the dispute, writes a detailed report of the dispute.

The REIV has clearly enunciated a dispute resolution procedure that must be followed; otherwise the complaint will not be considered. Such action should only be taken as a last resort; refer to Directors for instructions.

Disputes with the public are potentially the most damaging and should always be considered seriously.

All public disputes must be brought to the attention of the Directors and handled by them immediately.

At all times, courtesy must be extended to the public and no statements of liability or otherwise are to

be made without consultation with the Directors.

Donations

Policy

Our company policy in relation to the donation of funds to recognised charities, church groups, schools,

sporting clubs etc., is based on assisting the community and promoting the name of Our Company.

It is not company’s practice to promise a donation to gain a listing; this practice is deemed unethical. However, if a listing is gained by an agent on the promise of a donation then this is deemed to be a

discount commission in which normal conditions apply for the spreading of costs between the

company and the consultant. Donations can only be paid following the sale of the property.

To ensure the matter is clear, the following policy applies:

No employee of the company is to promise a charitable institution a donation in order to gain a listing. Further, no mention of a discount is to be inserted on any authority.
Donations must not be discussed by any staff member with a staff member of a charitable institution at any stage during the listing or sale process.
Donations must be supported by a letter from a Director, which accompanies the cheque acknowledging our ongoing business relationship.
The quantum of a donation should not exceed 10% of the commission

Dress and Behaviour

Policy

All consultants are expected to dress in Professional Business Attire.

Consultants must be aware that the actions and impressions that they convey to the public, both during and after business hours, are important to their own personal development and the growth and success of the company.

The only time that it is acceptable to not wear a tie is when you are not dealing with the public. At all other times, while you are in meetings with clients, you must have a collar and tie on.

Consultants are required to maintain their motor vehicle in a clean and undamaged condition. Car

interiors should be clean and uncluttered at all times.

If Sales Agents choose to wear the Uniform, they must wear this in its entirety, and adhere to the Uniform Policy

It is compulsory for all administration staff to wear the company uniform. Administration staff must wear black enclosed shoes at all times, open toe sandals are not permitted.

Enquiries and Appraisals

Purpose

To ensure that all Vendor and Purchaser enquires are registered.

Procedure

All buyer enquires, that pass via reception, are asked if they have dealt with the company or anyone from the office before.
If the person has not been registered in the past, they are logged in the Buyer Enquiry Register, located at reception and then allocated on a rotation basis.
Vendor enquires that pass via reception are asked if if they have dealt with the company or anyone from the office before.
If the person has not been registered in the past, they are logged in the Vendor Enquiry Register and allocated to sales consultants on rotation. Sales consultants must qualify first to receive this enquiry – directors to nominate.

Gaining extended authority period

Purpose

This procedure applies to all sales listings where the agency agreement has, or is about to, expire.

Procedure

A property may not have sold by the end of the agency agreement. If the Seller remains motivated, a successful sale may just take a little more time.

The Sales Consultant may negotiate with the Seller to extend the agency agreement. If the Seller agrees to extend the agreement, the Sales Consultant must review all aspects of the marketing plan including the price of the property.

Managing Agent

Reassesses the motivation of the Seller and, if the Seller is motivated:

Reviews the needs analysis
Reviews the price
Reviews the marketing plan
Invites the seller to sign a new agency agreement
Changes to sales listing details

Giving out property information

Policy

This policy applies to all sales listings and all staff; it addresses the issue of disclosure of Vendor or Buyer information.

The company has a privacy policy and is bound by the Privacy Act. If the company discloses information about a client without permission, the client may take legal action. Therefore, it is very important to have rules concerning privacy.

On the other hand, buyers and sellers invariably like to know a little about each other, and it may help the transaction if this information is made available.

The marketing plan includes information about the Seller that the Sales Consultant may disclose if necessary. A written offer may include information about the Prospective Buyer that the Sales Consultant may disclose.

All staff must observe the privacy policy. Privacy Policy

Internal Office Disputes

Purpose

The following procedure details the actions necessary whenever there is a dispute between members of staff.

Procedure

Internal disputes are to remain within the company and are not to be discussed outside. If a dispute arises between individuals within the company, it would be advisable to make a detailed record of the event and request that it be handled immediately by the Sales Manager. If the matter is not rectified to your satisfaction, it should be raised with the other Directors. The outcome and decision of management will be final.

Disputes for commission entitlements may only occur between sales consultants. Sales consultants cannot make a claim for loss of commission on any day to day decision made by the Manager in the running of the company. If a sales consultant has a dispute over commission the following procedure should be followed;

Sales consultant must re-read the rules
The sales consultant must speak with the other sales consultant and endeavour to come to a resolution
If the dispute cannot be resolved, each party must provide details to the Sales Manager / Directors to enable them to decide upon an outcome
In the case of a stalemate, commission will be divided equally
Should the Sales Manager / Director be one of the sales consultants involved in the dispute a representative from the office will be appointed to decide the outcome.

Keys and Key Safes

Purpose

The following procedure covers the issue and installation of Key Safes.

Procedure

Upon listing the property, a key safe may be obtained the Office
A record of the key safe taken shall be made in the log book with the appropriate number and the address of the property. The log book is in numerical order.
Place the key safe in a position that is accessible by agents when carrying out inspections and attached to a fixed object such as a steel security door, tap or gas meter
Upon the sale of the property, all key safes are to be returned to the office and crossed out in the log book.

Maintaining the Sales White Board

Purpose

This document explains how to maintain and use the Sales white board. The Sales Administrator updates the Sales Whiteboard. The Sales white board also operates as a backup and comparison system for company information.

Procedure

The Sales white board is a record of all sales events in the company, including the following:

Number of Sales appraisals for each sales person
New sales listings
Number of listings for the month for each sales person
Number of Sales each sales person has made
Commission on each sale
Gross Commission to the company
Gross commission to each office
Sales person running monthly total of individual earnings
Commission splits .i.e. Lead, List Manage, Sell
Running tally of any competitions

Management of Sales Department

Policy

The Sales Manager is responsible for managing the Sales Department and supervise the business’s Property Consultants and Sales Secretary in accordance with the Best Paractice Real Estate Policy and Operations Manual.

Management review of listings

Purpose

In this procedure, the Sales Manager reviews the progress of sales appraisals and sales listings, discussing them with the Sales Consultants if necessary.

The Sales Manager may need to review sales activities:

To give guidance or encouragement to individual sales consultants on their performance
To suggest changes in the way a sales consultant is managing a sales listing.

Procedure

Sales Manager

If any sales consultant is not achieving targets, discusses this with the sales consultant, provides guidance and encouragement, agrees on action to improve performance.
If required, reallocates sales listings to other sales consultants.
If required discusses progress of individual sales appraisals or sales listings with their listing sales consultants and helps them to improve their strategy.

Market appraisal policy – External to your office

A salesperson will be expected to question a potential vendor/buyer in relation to any previous involvement with any employee of the company, so as to establish if that person has been followed up recently, or is a past client of the company, “Have you dealt with anybody from <Your company> before” A client is someone who has either bought or sold through the company and has been regularly followed up by that salesperson i.e. quarterly contact evidenced by mail, phone, personal, diary notes etc.

The involvement in a listing by joint agents should be established at the outset of the listing. Rapport with the potential vendor will be established at a greater level with one or the other. Agents name, telephone numbers and placement of Advertising should also be clarified with the responsibility falling to the Agent who has formalized the campaign with the Vendor or has agreement in writing together with forms of payment.

If you receive a lead regarding a potential Market Appraisal in an office’s Core Area apart from the office that prospect should be: –

Referred to the Core Office for follow up with a 10% referral commission payable to the referring office, upon release of deposit monies.
A salesperson from each office does the Market Appraisal with a commission split of 15% of the commission (after any advertising levy) being paid to the referring office, upon release of the deposit.

If it is established when talking to a prospect that the prospect is a past client of a salesperson from another office who has been followed up within the past 3 months, then a courtesy call to that salesperson should be made with no referral fee/commission expected. This is called teamwork!

Under no circumstances can a salesperson do an appraisal in another offices Core Area without first getting the Core Office involved. In addition, team inspections arranged by a salesperson in another offices Core Area without first getting somebody from that core office involved is not permitted. This is common courtesy and shows regard for your fellow team members!

Meeting with Presenter

Purpose

This procedure covers the matters that must be discussed during the daily meeting between the Vendor Manager and the Presenter.

Procedure

On a daily basis, the Vendor Manager must meet with the presenter to communicate the following:

previous days contacts
today’s contacts
follow- ups required/ completed
update OFI times if necessary

The Vendor Manager shall attend the meeting with pen and diary in preparation to discuss relevant issues.

Office commissions and basis of calculation

Purpose

This section describes how the company calculates the commissions for property sales.

Scope

This procedure applies to all property sales.

Procedure

Company commission for sales

All sale commission incur two levies prior to the sales persons commission split. These are as follows:

3% of the total commission to cover corporate marketing

$350 to cover customer service

Commission Splits

All sale commissions are divided into four categories:

Lead (10%)

This is payable to the sales person who generates the lead for this property. In the case of company telemarketing and property management leads this commission will be retained by the company.

List (10%)

This is payable to the sales person who physically signs up the authority to sell with the vendor. In the case of a trainee agent who finds the lead and is then accompanied by a senior agent, the senior person would get the list commission.

Manage (10%)

This is payable to the person who handles the sale file from the time of listing to the sale being made. In the case of a listing being assigned to another agent the new agent would earn this commission.

Sell (10%)

The agent who shows the property to the buyer or refers them to an open for inspection would earn this commission

See salespersons commission policy for more information.

Out of Office/Voicemail

Purpose

The following procedure covers the use of Voicemail on the office telephone system and the use of IN and OUT buttons to indicate whether you are present in the office or not.

Procedure

Consultants must advise reception when they are leaving the office, where they are going and when they expect to return.

How do I know if I have messages

Insert detail

To check Voicemail messages

Insert detail

To change your Voicemail greeting

Insert detail

When out of the office

Insert detail

Remote access for Voicemail

Insert detail

Mobile Phones

Policy

It is required that all Sales Consultants shall have a mobile telephone.

Costs associated with the phones are to be paid by consultants unless otherwise stated in their employment contracts.

Prepare market share reports

Purpose

To monitor the position of the company in the market place and stay informed of competitors positions.

This policy was designed to give us an up to date picture of our market place to avoid making assumptions about ours and others positions of strength or weakness.

We see this information as providing us with an opportunity to target certain competitors based on their style of business particularly any offers they may be making to the market place and any specific marketing they may be doing which we need to match, go one better or ignore.

Procedure

Salespersons Commission

Purpose

This section explains which sales consultant is entitled to commissions from a property sale and a property purchase. This procedure applies to all sales staff and all property sales.

The sales team member who finds a lead, lists a property, manages the sales file ongoing and sells property is entitled to a commission for each of these activities. See “Office commissions and the basis of calculations” for further information. Since the sales team works together and helps each other, it is important to have clear rules about who receives commission.

Procedure

Geographical prospecting territory

There is a geographical prospecting territory known as a Business Development Area. Any sales team member can sign up a client from anywhere however may not prospect in any area. See Business Development Area Rules)

Property sales commission

The sales consultant who finds the lead is entitled to a commission for this. The sales person who appraises the property and signs up the Seller for the sales listing (the Listing Agent) receives the sales commission for that activity. The salesperson who manages the file including all the vendor contact and the management of the marketing for the property is entitled to a commission for this.

The Sales Manager can reassign a sales listing to another sales consultant. In this case the original Listing Agent receives the Listing commission and the second agent the Managing commission.

Property purchase commission

The Sales Consultant who first takes the Buyer through the door of the property (or within the border of the property if there are no buildings) receives the buyer commission.

The Listing Agent normally receives the buyer commission for buyers who are on their first visit during an open for inspection.

Another Sales Consultant can receive the buyer commission from an ‘open for inspection’ first visit if:

On arrival, the Buyer states to the Listing Sales Consultant that they are clients of the other Sales Consultant OR
It is most convenient for the Buyer to attend the open for inspection AND, before the open for inspection, the other Sales Consultant:
- Has spent time discussing the Buyer’s needs AND
- Recommends property inspection to the Buyer AND
- Notifies the Listing Agent (See the Buyer Referal policy)

Vendor communication and feedback

Purpose

In this procedure, the Sales Consultant maintains regular communication with the Seller. This procedure starts with the agency agreement. It ends when settlement is complete or at the end of the agency agreement.

The Sales Consultant needs to keep in regular communication with the seller because:

They need to know that the company is working for them
Their needs and requirements may change without the company knowing.

Procedure

Only the Managing agent contacts the Seller.
Contact the Seller in person or by telephone if possible. Otherwise by fax or letter.
Make a written contact plan and keeps a diary of all contact with the Seller
Contact the Seller to report progress and observations:
- After every inspection and ‘open for inspection’

Personal Assistants

Policy

The following policy statement covers the use of personal assistants.

High income consultants may choose to make use of a personal assistant to enable them to increase

their overall performance.

Presently, the Australian Taxation law does not allow for a consultant to claim a deduction for the cost

of a personal assistant. The company is deemed the employer of such staff and will attend to

payment and other employer obligations. In return the company requires an indemnity to be signed by

the consultant, using an assistant, undertaking to reimburse the company for all associated costs.

No personal assistants are to be appointed without prior consultation with management. All personal

assistants must have the agent’s representative qualifications. Any employment contract shall be at

the sole discretion of the company. Personal Assistants are bound by the same code of conduct as any Our Company sales consultants.

Personal Profiles

Purpose

This procedure covers Personal Profiles for staff.

Procedure

All consultants will be expected to provide the company with a brief history of themselves for their profile.

The company provides an allowance for the preparation of personal profiles which are to be used in testimonial material and appraisals.

A Director must approve the final content before the profiles can be printed. Personal profiles are not to be used as letter box drops

Property Previously sold by Our Company

Policy

This policy confirms the status of a general enquiry and the rights of a sales consultant to any subsequent listing.

If a general enquiry is received, then it is presumed that the potential vendor has forgotten the

name of the consultant from whom he/she originally purchased. The fact that the potential vendor is listed on a mailing list will not necessarily entitle a consultant to an automatic listing.

In the normal course of events such enquiry will be recorded in the Market Appraisal book located at reception and give to the next consultant.

To protect themselves against losing contact with past purchasers, consultants must make regular recorded contact, either in person, by telephone or in writing; this will ensure that the past purchaser never forgets their ongoing involvement.

Relations with Other Agents

Policy

We encourage all staff to maintain cordial relations with competitor agents and realise that natural

friendships often evolve as a result of frequent contact. However, such relationships must not be

allowed to prejudice loyalty to Our Company, our vendors or our work colleagues.

Disparaging comments about competitors will only breed distrust and are not in a consultant’s or the company’s long term interests. Likewise, public comment about a colleagues’ behavior is disloyal and unworthy. Any such issues should be dealt with quickly in a face to face manner and in the presence of the Sales Managers/Directors.

Removal of file

Purpose

The following instructions relate to the security of Sales / Sold files

Procedure

Sales / Sold files shall not to be copied or taken off the premises

If a file is removed from the filing cabinet, ensure that a note or business card is placed in the drop indicating to your colleagues where file may be found

Reviews Half- Yearly

Policy

The Sales Manager is responsible for the following reviews on a six- monthly basis:

revising the Sales Departments formal budget
reviewing his/ her personal performance to budget and reporting in writing with comments and recommendations to the Directors
revising the Sales Department’s training program, vendor/ purchases/ investor needs analyses/ surveys/ prospecting systems and relationship marketing program
revising all Sales staff job descriptions, including that of the Sales Manager

Staff Members Purchasing Property

Policy

In accordance with their letter of appointment and individual Employment Agreement, a consultant should ensure that the Estate Agents Act Section 55 covering the purchase of property listed for sale by the company is followed.

If a consultant considers that there is conflict in this area, with either themselves or a direct member of their family, a Director should be advised accordingly. There is the possibility that early notification of such conflict could result in a successful outcome for the consultant, the vendor and the company.

Supervision of Sales Training

Policy

The Sales Manager is responsible for supervising the Sales Training Program conducted on Friday mornings.

Targets for the sales team

Purpose

This document sets performance targets for Sales Consultants. These targets apply to all Sales Consultants. Supervisors set individual targets for trainees according to their stage of development. Each office and each individual sales person will have goals for the month, quarter and year. Without a goal being set for all aspect of your business success will be impossible to achieve. Targets will be for prospecting, appraisals, listings, sales and income.

Goal setting is a useful motivator for sales staff. It provides a yardstick for performance and makes staff accountable for their time.

Procedure

Each Sales Consultant conducts at least ten sales presentations every four weeks.
Sales appraisals and presentations have a one in six strike rate of listing on the spot
Sales People should list approximately 2-4 listings every month
Sales listings have an eighty percent strike rate, leading to three sales every four weeks.

Tenure of Purchaser

Policy

The following points serve to establish the status of a Purchaser

Buyer must be registered in system within one (1) business day and tasks must be set, for the agent to follow up on.
Minimum requirement is to have shown them three (3) properties which must be logged
Proven weekly contact by Email/SMS/Phone/Inspection.

Tenure of Vendor

Policy

The following points serve to establish the status of a Vendor

Must be registered in system and Tasks have been set. Having completed a Market Appraisal you need to make contact with your client according to the tasks.

If you attend a Market Appraisal and find that a colleague has completed a Market Appraisal at the property and has proof of regular contact, then you will be doing this Market Appraisal on their behalf.

If another Real Estate Agency exclusively lists your Market Appraisal there is no future claim over tenure.

Sales Consultants buyer is not necessarily your Vendor. Another colleague may have done a Market Appraisal on their home and registered them with tasks set, if this is the case the client must be passed back to the agent who registered them.

Under offer email advice

Purpose

To advise all sales staff that a property is under offer. This procedure ensures all salespeople are advised if an offer is taken on a listing so that they can then follow up any buyers who may have looked at the property to give them the opportunity of making an offer.

Procedure

SP takes an offer on a property
SP opens email and sends a bulk email to all SP’s
In the Subject section enter the words “UNDER OFFER”
In the main body write the address of the property with advice on when the offer is expected to be presented.

Using Administration team members

Policy

The administration team has its own responsibilities in the company operation. Whilst the sales team and the property management team may ask for assistance with their work, this must be within the law, within company rules and must not place an unfair burden. If the administration team does work that is outside its normal operation, this could break the law, breach company security or cause employee stress.

Sales Team Members & Property Management Team Members

Do not ask the administration team to do work:

For which they do not hold a licence or qualification, such as submitting an offer or signing a

sale authority

That places an unfair burden on them, such as asking them to do work that you should be

doing yourself

That works around the lines of communication in the company, such as looking up

confidential information

If you have a special project that requires more work than usual, discuss it with management.

They may be able to arrange extra resources for you

Weekly sales meetings

Purpose

In this procedure, the sales team conducts its weekly sales meeting.

Scope

This procedure applies to the sales team and occurs every Tuesday at the office at 8.30am.

Background

For the sales team to operate as a team, members need to know what is going on in sales activity across the company. This way they can:

Be aware of trends
Help each other by offering viewpoints, support and advice.
Measure their progress towards targets
Create the best possible marketing program for all properties

Management needs to be aware of the sales activity and success rate so that they can:

Help the business to develop and operate well
Help sales team members achieve their targets
Ensure that the company is providing the highest standard of service to clients
Improve the sales procedures of the company.
Keeping statistics of sales activity and success over time is a valuable tool for process improvement and business planning.

Sales Manager

Prepares the agenda including:
Open for inspection list review for the coming Saturday
Property run list
Discuss company operations as needed

When a buyer defaults 1

Purpose

This procedure applies to all cases of sales where the buyer has defaulted on some part of the contract.

Procedure

If a buyer defaults on an aspect of a sales contract, the Seller provides instructions through their solicitor as to the action that is to be taken. The sales team must follow these instructions exactly, asking the Seller’s solicitor to clarify anything that they do not understand.

Do not refund the deposit unless the Seller gives written instructions and the Manager authorises the refund.

There can only be a buyer default if there is a written contract. If the buyer defaults on an aspect of the contract, the Seller’s Solicitor notifies the company in writing and gives instructions.

Sales Consultant

Follows written instructions from the Seller’s Solicitor

Does not follow instructions unless they are in writing

Confirming Settlement

Purpose

This procedure contains the instructions for confirming settlement.

Procedure

Confirm settlements and complete settlement tasks;

Contact buyer to see if they require a final inspection during the week prior to settlement
Contact Vendor to approve using the key to enter the property or if the Vendor is to be in attendance. Vendor can assist in instructing buyer on the use of appliances etc. in the home.

Organise keys and gifts for settlement day

If you are in the office when the buyer collects keys/settlement gift you should hand this gift box to the buyer, as they are about to become your prospective Vendor.

Handing over Key

Purpose

This procedure contains the instructions for handing over the keys to a property at settlement.

Procedure

Check Settlement List daily check to see if there are any settlements for that day
Keys are not to be handed out to purchaser until you have been advised by the Vendors Solicitor only that settlement has taken place.
If purchaser comes in for keys and you have not heard from the V/Solicitor you must telephone them/ if you are unable to speak to them you must advise purchaser that you are not legally allowed to hand keys out without the authorisation of the V/Sol.
If you are unable to confirm settlement contact your manager for further instruction.
Once settlement has taken place record in red in day book ie.

Settled 3 Smith St, Your Town Settled

When purchaser comes in, see if selling agent is in office, if not give purchaser card, gift box and keys in envelope (should be pre-prepared by Client Services and located next to Lexmark printer) and congratulate them on their new home.
Prior to handing over keys, politely ask to see some photo identification to verify that the keys are being handed to the purchaser. If someone other than the purchaser is collecting the keys with instruction to do some from the purchaser, a note needs to be made stating who the keys were collected by.
If keys are being collected on a weekend, check in the Day Book that settlement has been recorded, or failing that, check the property with the Sales Manager.

Key Procedure

Purpose

Once a property has been sold and it becomes unconditional the keys for the property must be held at the selling agent’s office.

To ensure this happens when Accounts processes the file a task will be added to the group of tasks to follow up the key by Client Services.

Procedure

21 days after the sale of the property (and check that it is unconditional) the key is located by client services and then a note is made under the property. If it is a 30 day settlement the procedure will be done at 14 days.

7 days prior to settlement phone the Vendor to ensure all the keys have or will be returned before the property settles. Also contact the purchaser to advise them which office they need to pick the key up from. The keys will automatically be at the selling agent’s office for the purchaser to collect unless otherwise requested by the client.

In the property file record details of when the keys will be returned by the vendor and which office the purchaser will collect the keys from.

Purchaser & Vendor communication at settlement

Purpose

This procedure contains the procedures for managing Purchaser and Vendor communications at Settlement.

Procedure

Calls to Purchasers and Vendors Prior to Settlement

Phone Vendors for forwarding address & if require assistance
Phone Purchasers for forwarding address & if require assistance

Use the following as a guideline when talking to the Vendor

Good Morning/AfternoonIts (your name) calling from Our Company. The reason for my call is to see howeverything is going for you prior to the settlement of your property.Is the settlement still on track for the (date)Do you mind if I have your forwarding addressDo you still have keys to the property Will you be dropping the keys in prior to settlementDo you require any further assistance from us If you do need any assistance please don’t hesitate to call.

You need to record the conversation and the Vendors forwarding address.

Use the following as a guideline when talking to the Buyer

Good Morning/AfternoonIts (your name) calling from Our Company. The reason for my call is to see how everything is going for you prior to the settlement of your property.Is the settlement still on track for the (date)I also just wanted to let you know that upon settlement the keys will be available for you to collect from the office.Do you require any further assistance from us If you do need any assistance please don’t hesitate to call.

You need to record the conversation.