REIQ Best Practice Guidelines v03.23 - Flipbook - Page 64
(c) should attend other inspections on behalf of
(or with) the Client that they are authorised to
attend, once a contract of sale has been
entered into, including:
i.
inspection for a valuer if the buyer is
obtaining finance;
ii.
inspection with the building and pest
inspector;
iii.
inspection with
technician; and
iv.
a
smoke
alarm
13. MAKING AN OFFER
(a) Member Buyer’s Agents must obtain approval
from a Client in writing prior to making an offer
or submitting an expression of interest for a
property. It is recommended to use the Buyer
Instruction Form.
(b) An offer or expression of interest prepared by
a Member Buyer’s Agent for a Client’s
consideration should contain:
i.
the buying entity’s legal name and
details;
ii.
the Client’s offered purchase price;
pre-settlement inspection.
12. COMPARATIVE MARKET ANALYSIS
(a) Member Buyer’s Agents may provide advice
about market price to a Client if they also
provide either a Comparative Market Analysis
(CMA) or written explanation confirming how
they have estimated the market value of
property.
(b) A CMA provided by a Member Buyer’s Agents
must compare:
i.
at least three (3) properties of a similar
standard or condition;
ii.
sold within five (5) kilometres of the
property; and
iii.
sold within the last six (6) months from
the date.
iii.
what deposit the Client would like to
pay;
iv.
if the Client requires the finance
approval or building and pest
inspection conditions and due dates;
v.
if the Client requires any other special
condition and due dates; and
vi.
the proposed settlement date.
(c) If a Member Buyer’s Agent is instructed to
make an offer on behalf of a Client, the
Member Buyer’s Agent must make the offer
approved by the Client (without amendment)
and as soon as practicable from receiving the
Client’s instructions.
(d) When submitting the offer or expression of
interest, the Member should state that they act
on behalf of the Client.
(c) Member Buyer’s Agents must provide a
statement to the Client that the CMA is an
estimation of market value only and does not
constitute a valuation, unless the Member
Buyer’s Agent is a licensed valuer.
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REIQ BEST PRACTICE GUIDELINES
V08.23
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