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> Authority to Sell > Vendor Statement/Section 32 > Further Assistance

Authority to Sell Hints

Blank Sample Section 32

Vendor Statement Brochure (S32) Source Kligers Partners Solicitors

Sample Vendor Statement (S32) Source Kligers Partners Solicitors This is only a sample and for information purposes only, the vendors' names are fictitious as are the street names and address of the property Please note these are large files (approx. 2mb) and may take time to download.

The Authority to Sell is a Contract.

An estate agency will expect you to sign an Authority (engagement to sell your property).

This document is a contract signed between the vendor and agent.

• It outlines commissions, marketing costs, and time frames and for how long the agent holds that authority and whether it is exclusive or not. All these items are negotiable.
• This is a Legally Binding Contract and therefore due care should be taken when signing this document.
• Agents by Law must not retain any discount or rebate received. All rebates and discounts must be passed on to you. (Section 48 Estate Agents Act).
• The Law requires an agent to disclose any commission sharing arrangements.
• It is illegal for an agent to mislead a seller about the estimated selling price. An agent is required by law to give you either a single figure ie $300,000 estimate or a price range not exceeding 10% ie $300,000 to $330,000 (the range is the most common, Section 47A Estate Agents Act). An agent must be able to justify the price/price range. Usually by using comparable sales, properties for sale and current market conditions.
• Once you have signed the exclusive Authority you are "locked in". This is normally very positive but if the wrong agent is selected then it could be a financial disaster.
• In Victoria agents must negotiate their commission prior to you signing the Authority and you must be given a copy at this time. See under Resources/Legislation/Estate Agents Act

• This is a critical document to your success.
• The property cannot be sold without a current Section 32 signed by the Vendor(s).
• It is in your own best interests to make sure this document is available before you market the property.
• If this document is not available, a purchaser has the right to cancel the sale.
• It should be completed by a qualified legal advisor.

We strongly recommend that you immediately instruct your legal advisor to commence preparing a Section 32.

Since 1983 (when it was introduced) so many sales at excellent prices have been lost and vendors have eventually sold for far less and been very disappointed by not having the Section 32 prepared.

Every agent has a story about lost sales through not having a signed Section 32 available. Make sure you don't become one of those statistics. Why take the risk of not having one ready?

See Vendors / Sellers Advocates

See Resources for access to a wide array of information.

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