Latest / Your Local Real Estate Expert - The Schultz Realty Podcast / EP32: Selling in Queensland? What You Need to Do Before You List
Transcript
- Hi, I'm Sarah Schultz, and welcome to your local real estate expert, the Schultz Realty Podcast. As the award-winning number one agent and agency for Mount Warren Park, Bahrs Scrub, and Windaroo, I've been helping buyers find their dream homes and exceeding sellers' expectations on price and service in our area for over 10 years. Known as the property matchmaker, I'm here to share stats, facts, and insights to make your real estate journey in the local area seamless and successful Hi, it's Sarah Schultz from Schultz Realty. Welcome back. If you're thinking about selling your property, there are some important changes you need to know about the process of getting a property ready for sale in Queensland now, which involves more compliance than it ever used to. And this is something I really want sellers to understand before they decide, "Right, I want to put my house on the market next week." Because there are a few things now we need to do first. So one of the biggest changes is AML, anti-money laundering. Um, that's basically what that stands for. Some of you may have already, um, heard about it. Uh, but basically, from the 1st of July, a new AML obligations apply to real estate businesses and a number of other professional businesses actually as well involved in property transactions, from solicitors to, I believe, accountants as well. But what this means for you as a seller, it means that we now have to do customer due diligence requirements immediately from after signing a Form 6. So in simple terms, we need to know who our client is and verify certain information before beginning providing a particular regulated service. So if we sign a Form 6 with you, AML is then going to be asking for identification and, uh, we basically are not able to do any marketing on your property until that AML is verified. It's now part of the compliance framework that we operate under, and there's nothing I can do about it. There's another important requirement sellers also came in, um, just in case you weren't aware, that the disclosure came, scheme came in in August last year. And a seller disclosure statement, also known as a Form 2, needs to be p- prepared as part of the selling process and provided to the buyer along with the contract before, um, the buyer signs the contract. So it's actually in front of. That means that there's now more preparation involved in getting to the contract stage as well. So the Form 2 basically provides buyers with basically information about the property and rates, water, some questions, documentations, some searches can be involved. Sometimes they're doing the Dial Before You Dig. If you now are thinking about selling, even if you're a few weeks or a couple of months away, talk to us early. It doesn't mean you have to put your home on the market immediately just 'cause you're talking to us, but it does give us an opportunity just to explain all of the process now to you in person to help you be organized and us be organized as well. 'Cause I think one of the biggest misconceptions about selling is that you can just call an agent in on Monday and then the property's automatically live on Tuesday. Um, but there's a lot of things now that have to be done from the AML to booking photography to, um, getting the Form 2 ordered to getting smoke alarms, pool certificates. You know, sometimes we can move quickly, but there are things that we just can't. So unless that AML is approved, we can't move forward. Your property presentation is now important, so how you're presenting the house, um, the paperwork, getting prepared. Um, there's a lot to try to achieve if you wanted to do it right. The last part is something I never want sellers to lose sight of. Compliance might have changed, but selling a home is still a very personal experience. You may have lived there for 20 years. You may be selling because your family has grown. You might be downsizing. You might be relocating. You may be selling to, uh, have no mortgage. You might be selling an investment or perhaps life has just simply changed and you're ready for something new. My job is to understand that. My job is to understand that bigger picture and help you through the process as easily and smoothly and swiftly as possible So please don't be overwhelmed by the terms of the AML, or the identity, or the due diligence, or the Form 2, or the smoke alarms. It is a bit of paperwork initially, but once you get going, the expert, myself, will take care of everything else. We also guide you through everything so that if you have any questions, we're here. And that's why you have us around you. What you do need to know is that preparation is crucial. So my advice is simple. If selling is even on your radar, start the conversations early. We can talk about what your property may be worth in the current market, what you could do to improve it, ready for the sale. We can discuss any documentation, any things that may be needing to be done. We can explain the process of AML and Form 2 in more detail, and get you ready to be sold. And we can create the best plan around your timeframe, rather than rushing everything at the last minute. I actually think good preparation makes the whole selling experience so much better and smoother. You know what is happening, you know what is required. And when the time comes to launch your property, you're fully ready. We can concentrate on what really matters, and that's presenting it properly, attracting the right buyers, negotiating the strongest price, and getting you sold for the best possible result. Now, I just wanna say quickly that if you are someone who needs to sell quickly, it can still happen, but just the sooner you're in contact with an agent, the better. So if you're thinking about selling in Queensland, remember, processes have changed. AML is in place. Nothing we can do about it. Form 2 disclosures are in place. Nothing we can do about it. We can help you get organized before you sell. Now is more important than ever. At least it's all there for us to talk through and ready to prepare. I'm Sarah Schultz from Schultz Realty. If you're considering selling and you're not sure where to start, get in touch with our team and we can guide you in person, on Skype, through what needs to happen before your property goes to market. Thanks for listening, and again, can't wait to see you in the next one. Thank you for tuning in with me, your local real estate expert, the Schultz Realty Podcast. I'm proud to serve Mount Warren Park, Bahrs Scrub, and Windaroo as a knowledgeable, caring, and reliable resource for all your real estate needs. Whether you're buying, selling, or just exploring your options, I'm here to help you exceed expectations and make that perfect match. If you enjoyed this episode, don't forget to subscribe so you never miss an update, and share it with another local who might find it helpful. Until next time, take care. And remember, the perfect property is just around the corner.