(Q) Is it safe to sell privately?
(A) Yes it is. Common sense prevails when doing an Open For Inspection for your commercial property or business location. Our suggestion is that you take down some form of ID before you allow people to inspect your business or commercial property. You have the right to ask for full identification. A serious buyer looking at your property should not have any objection to offering full identification.
If you're concerned about any of the legal and documentation side of selling your business or commercial property, we can point you in the right direction to get the right advice about what you should be doing. We'll make sure that you've got it all sorted and can help ensure you get a secure deal.
(Q) Do I need any legal advice in order to sell privately?
(A) Yes, you are obliged to have a legal representative to help you prepare documents and finalise the deal!
No Agent Business is a Real Estate Agency and as such is not entitled to provide any legal advice in relation to the sale of your business or commercial property.
If you do not have a solicitor to help you with the sale and you would like our assistance, please give us a call and will help you to source a local representative.
(Q) How much money will I save if I am selling “for sale by owner” through No Agent Business?
(A) Selling your business or commercial property through No Agent Business saves you thousands of dollars. On average, broker/agent’s commission across Australia is approximately 7% of the sale price. So if you are selling an asset worth $500,000, you stand to save $35,000 (plus GST). Additionally, an agent will could charge you anywhere between $3,000 and $15,000 for a marketing campaign.
With No Agent Business it’s a once-off cost! There are no concealed fees, there are no monthly fees and there is no commission! Check out our business selling packages here, commercial property sale packages here and commercial property lease packages here.
(Q) Do I need to be a sales person to sell my business privately or sell my commercial property privately without an agent?
(A) No, you don’t need to be a sales person to sell your own business or commercial property. Remember this - no one has better knowledge about your business/property than you. Buyers find it very uplifting dealing directly with an owner.
It is more about proficiency in communication than sales. Also, when you are dealing directly with purchasers, you only have ONE business/property to sell. An agent has other similar businesses/properties on their books to show their buyers, which means they might not always have your best interest in mind.
(Q) To sell your own business or commercial property sounds too complicated and time consuming. Is that true?
(A) Selling privately does not necessarily have to take up too much time or be a complex task. Certainly you will be handling all buyer enquiries and yes it takes time and effort. But think of all the thousands of dollars in commission you will save. And you also have control of your sale from beginning to end. These days many Australians are choosing to sell privately and if it were a difficult process, this would certainly not be the case.
Q) When is the best time to sell a business or commercial property?
(A) There are prospective purchasers coming into the market on a daily basis! Some purchasers need to buy straight away while some have time on their hands to find their ideal business or commercial property.
Traditionally Spring is regarded as a good market in which to sell. This is more often a myth than a fact. With more on the market during Spring, buyers have more choice, which might not be a good thing when selling your assett. The state of the economy can also have an affect on the market place: A steady economy means steady buyers and sellers. As the median price for houses goes up, more buyers enter the market.
Listing with No Agent Business alleviates the pressure. Our, listing packages involve a once-off payment and your property remains listed until a purchase takes place. You also have full control of altering your price range to match the market, even after it's published.
(Q) How can I make sure I get the best price possible?
(A) You might have an ideal price in mind for your business or commercial property. If you're a little unsure, it's often best to discuss this with your accountant.
The value of your business or property is determined by what a buyer is happy to pay on the day. Your goal is to get as many buyers interested as possible at the same time. This puts you in a better negotiating position. The way to achieve this is through a solid marketing campaign.
Choose the most affordable package for you. Each package provides additional exposure on the selected websites, with the Ultimate Package providing the highest number of websites. If you're still unsure about how to get the best price or which package to choosen, give us a call and we can make some suggestions.
(Q) How and when do I arrange a contract of sale?
(A) The Contract of Sale is a legally binding agreement between a seller and a buyer. A Contract of Sale is different to a ‘Vendor Statement” but they are generally combined into one document to give to interested buyers.
It is best to use a local conveyancer or solicitor who has standard documentation available, which is then adapted to match your particular sale.
Each state in Australia has individual rules and methods of presenting a Vendors Statement. This is why it is advisable to engage the services local conveyancer or solicitor.
Also ask them to supply a soft copy, as buyers may request this.
It is best to get the contract of sale in place as soon as possible so that you are available to give it to prospective buyers on the same day that they request them.
(Q) Agents and brokers say they have a database of buyers and they can sell my property very quickly. Is that true?
(A) This is one of the biggest fallacies that agents promote! If you were looking to buy, would you wait for agent to let you know about a property or would you rather be actively seeking a property on portals such as CommercialRealEstate.com.au and RealCommercial.com.au?
Buyers don’t passively wait for an agent to advise them about a property. They are out there actively doing their own research via the portals. By purchasing one of our packages, we will promote your business or property on various Australian portals such as SeekBusiness.com.au, RealCommercial.com.au, BSale.com.au, CommercialRealEstate.com.au for one low price and it will remain out there until such time as it is sold.
(Q) Is it legal to sell your own business or property?
(A) Yes is it completely legal to sell privately. There is no law that prohibits owners from selling their own businesses or properties privately without an agent!
(Q) Does it take long to sell a business or property?
(A) This is dependent on many aspects such as demand for a location, the price that you are asking for your property and your exposure.
As a rule, Agents like to keep your listing for at least 3 months. The logic behind this is that they are unsure as to the time frame of selling your commercial property or business. If you are in a position that you HAVE to sell straight way, then we suggest conducting the STRONGEST campaign that you can to achieve the MAXIMUM EXPOSURE you can in the shortest time possible. If this is the situation in which you find yourself, contact us for a free, no obligation discussion.
If however you do not have to sell straight away, then the time frame is entirely up to you. Whether you are in a hurry or not, it is vital that you aim to achieve the best exposure and value for money possible. The several packages we offer let you make up your mind as to what’s best for your needs.
(Q) How can you afford to offer this service for such low prices?
(A) No Agent Business has been a sustainable business since 1999 (previously operated under No Agent Property brand) and in fact, one of the first private selling websites on the market. It’s simple. Our package prices are based on high volume and low profit. This means that our customers can sell privately at a very economical cost.
When choosing a private seller company, it is important to check the longevity and sustainability of that company. Over the years, numerous businesses have been launched, taken money and then folded. No Agent Business is an official subscriber to all the portals that are advertised on our site and we are here to support your sale.