REIQ Best Practice Guidelines v03.23 - Flipbook - Page 60
THIS CHAPTER 5 APPLIES TO MEMBER BUYER’S AGENTS AND SHOULD BE
READ IN CONJUNCTION WITH CHAPTER 1 OF THESE GUIDELINES.
1. NEW APPOINTMENT
In conjunction with the PO Form 6 & REIQ
Purchases Schedule & Terms, Member Buyer’s
Agents are encouraged to use:
(a) Buyer Authority and Instructions; and
(h) if an offer made by the Client would be subject
to any standard conditions (finance, building
and pest) or special conditions.
3. SCOPE OF SERVICES
Member Buyer’s Agents should discuss the scope
of their services with the Client including:
(b) Letter of Authority – Auction.
Buyer’s Agent Forms
Available in Realworks
(a) how a property will be located;
(b) what property searches the Member Buyer’s
Agent will conduct for the Client:
2. CLIENT INSTRUCTIONS
Member Buyer’s Agents should obtain sufficient
written instructions from their Client setting out the
parameters of their desired purchase, including:
For example:
i.
what type of searches will be
conducted by the Member Buyer’s
Agent (such as title search, local
neighbourhood searches, council
searches, planning and development
searches);
ii.
what additional searches the Member
Buyer’s Agent may conduct for the
Client;
iii.
what search fees may be incurred as
set out in Part 8 and Item D of the PO
Form 6;
iv.
what other research the Member
Buyer’s Agent will undertake in relation
to the property; and
(a) the Client’s price range for a property;
(b) their desired location of a property;
(c) the purpose of their purchase (eg. investment,
residence);
(d) the type of property
commercial, land);
(eg.
unit, house,
(e) their preference for features and specifications
of a property (eg. how many bedrooms,
bathrooms, car parking, if there is a pool, shed,
solar, commercial/industrial facilities);
(f) what local facilities are important to their Client
such as schools, shopping precincts,
recreational areas or access to public transport;
(g) if the Client has an intention to renovate a
property, change the use of the property or
develop existing land; and
REIQ BEST PRACTICE GUIDELINES
V08.23
v.
if the Member Buyer’s Agent will
provide a Comparative Market Analysis
for each property (refer to guideline 12
below).
60
