Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Sellers

<html><body>
I have been asked by a number of our industry members if REIA intends to make a statement or provide direction in regards to Corona Virus.
I don't intend to make any comment about what precautions you, your employees and your families should take. The best advice to follow is that being provided by local, state and federal health authorities. Obviously, care should be taken in the workplace which also extends to open homes, auctions, corporate travel and the like.
Representing the real estate industry, I attended a large gathering of business and government people in Sydney last night. Rest assured the necessary precautions were being taken. Corona Virus was obviously the main topic of conversation and it was abundantly clear the situation is yet to truly unfold in Australia.
With this in mind, we should be aware of what impact the virus will have on our property markets across the country. It is more likely our markets will be affected by reduced consumer sentiment than the actual virus itself. I am already hearing of many stories whereby potential vendors are deciding not to sell at this time, preferring to wait until things normalise.
Whilst such a notion is completely understandable, it doesn't make sense as we all know it is better to sell in a market with less competition and I have no doubt that our buyers will continue to purchase regardless of how the seller may be feeling. I suspect any reduced consumer sentiment is likely to be magnified in the larger cities than in regional parts of Australia, just as the nonsensical rush to buy toilet paper has been.
I have no doubt that once this situation is managed and under control our markets will return to normality just as they did after the bushfires earlier in the year.
If REIA receives any messages from government to be disseminated to the property industry we will do so. Aside from that, let's continue to follow the advice of the health experts and keep ourselves, friends and families safe.
ADRIAN KELLY is the REIA President
</body></html>

j.ballantyne1990-6AQqhLzZaK

Coronavirus may exacerbate current sellers market: REIA's Adrian Kelly

<html><body>
All sellers, or estate agents acting on their behalf, must make a 'due diligence checklist' available to prospective buyers at open for inspections. The checklist aims to help buyers indentify whether any issues that may affect the property and impose restrictions or obligations on them, if they buy it
<h2>Do I have to use an agent to sell my property?</h2>
Most sales are conducted through an estate agent or agent’s representative, but you can choose to sell without their assistance.
<h2>What sellers can expect from an agent</h2>
Agents are obliged to act responsibly and ethically when dealing with both buyers and sellers. Strict laws govern their licensing, authorisation and conduct.
Anyone in the business of buying, selling or leasing property on behalf of another person must either:
<ul>
<li>hold an estate agent’s licence </li>
<li>be employed and authorised by a licensed estate agent as an agent’s representative. </li>
</ul>
An agent’s representative must have written authority to act on behalf of their employer. The licensed estate agent is responsible for the employee’s professional conduct.
Only deal with a licensed estate agent or an authorised agent’s representative. You can check whether a person is a licensed estate agent or an agent’s representative by searching the Victorian Business Licensing Authority’s public register of estate agents.
If you list your property with an agent, you are engaging the agent to help sell your property. The agent will charge a fee for this service, usually in the form of a commission.
The agent is bound by professional conduct regulations to:
<ul>
<li>always act in your best interests </li>
<li>follow your lawful instructions </li>
<li>engage in good estate agency practice. </li>
</ul>
Estate agents must:
<ul>
<li>advise a seller that all commissions and other outgoings are negotiable </li>
<li>at an auction, disclose any bid made by the seller to advance the price of the property </li>
<li>communicate to you all verbal and written offers from prospective buyers, unless you instruct otherwise in writing </li>
<li>state an estimated selling price in the sales authority that does not misrepresent the price at which the agent genuinely believes the property may be sold. </li>
</ul>
You can expect the agent to:
<ul>
<li>advise on a method of sale </li>
<li>provide a marketing plan, and advertise and market the property </li>
<li>advertise an up-to-date price for the property reflecting rejected offers. It is not compulsory for a price to be advertised </li>
<li>organise and attend open house and other inspections </li>
<li>attract prospective buyers </li>
<li>organise and conduct an auction (if you choose this method of sale) </li>
<li>arrange the signing of the contract </li>
<li>collect and hold the full deposit. </li>
</ul>
Estate agents must not:
<ul>
<li>mislead or deceive any party </li>
<li>make or accept dummy bids </li>
<li>at an auction, accept any late bids after the fall of the hammer </li>
<li>keep any rebates or discounts they receive for advertising or other services they buy on your behalf. They must immediately pass these on to you </li>
<li>charge you more for advertising or other outgoings than you authorised in writing or they paid for the service. </li>
</ul>
<h2>
<a name="choosing-an-estate-agent" href=""></a>Choosing an estate agent</h2>
Start by:
<ul>
<li>checking the internet and local papers to find agencies, the services they offer and sale price information </li>
<li>speaking to friends about their experiences </li>
<li>reading promotional material from a range of agencies including local agents, who are more likely to be familiar with the local market </li>
<li>talking to several agents and arranging to meet them. </li>
</ul>
When you meet with agents, discuss:
<ul>
<li>their knowledge of the market in the area </li>
<li>comparable local sales </li>
<li>their marketing plan for the property </li>
<li>their estimated selling price </li>
<li>their commission, or how much they will charge </li>
<li>the cost of advertising and other outgoings. </li>
</ul>
Ask the agent to provide quotes for their services in writing.
Do not choose an agent just because they give you the highest estimated selling price.
Get several agents to appraise your property and give you an estimated selling price. Ask them to justify their price by showing you similar properties sold at similar prices in the area.
Take into account the agent’s overall marketing plan when making your decision.
Do not sign anything, including a sales authority, unless you are prepared to engage the services of that agent. You do not have a cooling-off period (time to change your mind) after signing a sales authority.
<h2>
<a name="estimated-selling-price" href=""></a>Estimated selling price</h2>
This is the price the agent estimates your property will attract, based on their experience and knowledge of the market.
The estimated selling price:
<ul>
<li>is not a valuation or a guaranteed selling price </li>
<li>does not have to be the same as your reserve price </li>
<li>must be recorded in the sales authority as either a single amount or a price range. </li>
<li>If recorded as a range, the difference between the top and the bottom figures must not be more than 10 per cent of the bottom figure. For example, a quoted range of $400,000 to $440,000 is $400,000 plus 10 per cent. </li>
</ul>
Price misrepresentation
The practice of deliberately overstating the estimated selling price to get your business is known as overquoting.
It is illegal for an agent to:
<ul>
<li>mislead you about the estimated selling price of your property </li>
<li>advertise or advise a prospective buyer of a price that is less than your asking price, or if there is no such price, the agent’s estimated selling price. This is known as underquoting. </li>
</ul>
<h2>
<a name="commissions-and-commissions-selling" href=""></a>Commissions and commission sharing</h2>
Commissions
Most agents are paid by commission on completion of the sale. An agent cannot claim a commission unless you sign a sales authority.
An agent must advise you that the commission is negotiable, before you sign the sales authority.
There will be costs associated with marketing and advertising a property, on top of the agent’s commission.
The commission:
<ul>
<li>is not a set amount. You can negotiate the amount with the agent </li>
<li>can be paid as either a fixed fee or a percentage of the sale price, or as a combination </li>
<li>must, when agreed, be recorded on the sales authority. If you agree to a percentage, the commission must also be shown in dollar terms on the sales authority. The dollar amount is calculated on an approximate sale price to give you an indication of the amount of commission you will owe. </li>
</ul>
If the agent is using a commission scale, make sure you are clear about how much you may have to pay. For example:
The agent’s commission may be 3.3 per cent (including GST) on a scale up to $500,000 and 3.85 per cent (including GST) if the sale price is more than $500,000.
You might interpret this as only the amount above $500,000 having a 3.85 per cent commission. However, if the sale price exceeds $500,000, the agent may interpret this as the entire sale price having a 3.85 per cent commission.
Check the dollar amount stated in the sales authority and, if you are still unsure about how the commission is to be calculated, ask your agent to provide examples based on various possible sale prices.
At settlement, your agent will deduct their commission from the deposit, pay you the balance and give you an account for the sale. If you dispute the amount of commission your agent has charged because it is excessive, you can:
<ul>
<li>
<a href="https://www.consumer.vic.gov.au/contact-us/make-a-complaint">make a complaint to Consumer Affairs Victoria</a>. You must make the complaint within 28 days of receiving the agent's account </li>
<li>apply to the Victorian Civil and Administrative Tribunal for a decision on the dispute. </li>
</ul>
Commission sharing
An agent must advise you in writing if they will be sharing the commission with someone outside their own agency, such as a legal practitioner, conveyancer or another agent.
They must provide a written list of the people who will share the commission, before you sign the sales authority.
If a commission-sharing arrangement is entered into after the sales authority has been signed, the agent must:
<ul>
<li>update the sales authority with the relevant details </li>
<li>ask you to approve the arrangement, and sign and date the amendments. </li>
</ul>
<h2>
<a name="marketing-and-advertising" href=""></a>Marketing and advertising</h2>
Ask for a comprehensive, written marketing plan. This:
<ul>
<li>will be based on the agent’s experience, the nature of the property and your preferences </li>
<li>should include advertising methods and costs, and the price or range at which the property will be advertised. </li>
</ul>
Even if the property fails to sell, you will have to pay for marketing and advertising costs that you have authorised. You can avoid this expense by negotiating a ‘no sale, no fee’ arrangement in the sales authority, but make sure there are no hidden charges.
To be clear what you are paying for, ask the agent to provide a written schedule outlining advertising and other outgoings. All expenses are negotiable and must be recorded in the sales authority.
Rebates
Agents can be offered significant discounts or rebates by newspapers for buying bulk advertising.
It is illegal for agents to keep advertising or any other rebate, even if you agree.
<ul>
<li>An agent must pass on to you any rebate or discount they receive, such as for advertising. </li>
<li>If benefits are received in a form other than money, such as gifts, then the monetary value of the gift must be passed on to you. If the exact price is not known, then the agent must estimate the value. </li>
</ul>
The amount of any rebates or benefits must be stated in the sales authority.
<h2>
<a name="sales-authority" href=""></a>Sales authority</h2>
When you choose the agent, you will be asked to sign a ‘sales authority’ appointing that agent. This is a legally binding contract, which sets out all details of your agreement with the agent, including:
<ul>
<li>whether the property is to be sold by private sale or auction and, if by auction, the auction date </li>
<li>the negotiated commission and marketing expenses with GST set out separately </li>
<li>the circumstances under which commission is payable. This will depend upon the type of authority signed, whether it is an ‘exclusive’ or ‘general’ authority </li>
<li>the agent’s estimation of the likely selling price </li>
<li>the authority period or amount of time given to the agency to sell the property. </li>
</ul>
The authority must also include two statements:
<ul>
<li>a rebate statement, completed if the agent is to receive any rebates from the advertising expenses </li>
<li>a complaints statement, which explains that you can lodge a complaint at Consumer Affairs Victoria if there is a dispute over commission or outgoings. </li>
</ul>
If the agency is to share commission for the sale, either:
<ul>
<li>the sales authority will include a commission-sharing statement </li>
<li>you may be given a separate statement before signing the authority, informing of commission-sharing arrangements. </li>
</ul>
If you want to make any changes after the authority has been signed, they must be made in writing on all copies of the sales authority and initialled by both you and the agent.
Authority types
Exclusive authority:
This is the most common type of sales authority. It means you appoint one agency to market your property.
The agency is entitled to commission when the property is sold, and can claim commission even if you sell your property without their help.
You should not sign more than one exclusive authority, as you may have to pay more than one commission in certain circumstances.
<h4>General authority:</h4>
This is less common. You list with more than one agency but only pay commission to the agency that sells your property.
What can be negotiated?
You can negotiate many aspects of the sales authority with the agent, including:
<ul>
<li>the method of sale: </li>
</ul>
There are two main ways of selling a property: by auction or private sale. Both methods have advantages and disadvantages. An agent will be able to recommend the best method of sale for your particular circumstances
<ul>
<li>the authority period: </li>
</ul>
The period of time the authority is in force with the agent. Once you sign the authority, you will not be able to cancel it during this period unless the agent agrees. There is no cooling-off period with an authority. We recommend your authority period does not exceed 60 days.
If no period is stated on an exclusive authority, the default period for sale by auction is 30 days after the date of the auction. For a private sale, the default period is 60 days after the sales authority was signed.
If the authority period expires and the property has not been sold, you should notify the agent in writing if their services are no longer required
<ul>
<li>the commission: </li>
</ul>
The commission or agent’s fee is completely negotiable. You may wish to negotiate a ‘no sale, no fee’ contract, meaning you will not have to pay any commission or outgoings unless the agent completes the sale of the property. Check that there are no hidden charges.
<ul>
<li>advertising and other outgoings: </li>
</ul>
The amount spent on marketing and advertising is negotiable.
<ul>
<li>other terms and conditions: </li>
</ul>
Make sure you understand and agree upon all terms and conditions before signing. These conditions are negotiable. Any changes (deletions, amendments or additions) must be made on the authority and initialled by both parties.
All verbal agreements should be confirmed in writing on the authority and signed by both parties. If you have specific instructions for the agency, attach them to the authority.
<h2>
<a name="unfair-contract-terms" href=""></a>Unfair contract terms</h2>
The sales authority is a legally binding consumer contract.
Victoria has laws to prevent unfair terms in consumer contracts. A term is unfair if it:
<ul>
<li>causes a significant imbalance in the rights and obligations of both parties to the detriment of the consumer </li>
<li>was inserted in the contract intentionally. </li>
</ul>
Agents must make sure their sales authorities comply with the law.
If you believe there is an unfair term in a sales authority, contact the Estate Agents Resolution Service at Consumer Affairs Victoria on 1300 73 70 30.
<h2>
<a name="selling-property-without-an-agent" href=""></a>Selling property without an agent</h2>
Selling property without an agent involves:
<ul>
<li>deciding the sale price or range. Consider engaging a qualified valuer to assess the property </li>
<li>advertising the property </li>
<li>negotiating the price </li>
<li>obtaining a deposit </li>
<li>providing the contract of sale with the Section 32 statement attached and arranging for it to be signed </li>
<li>handling settlement. </li>
</ul>
You will need to engage a conveyancer or legal practitioner to prepare a Section 32 statement (vendor's statement) and contract of sale.
<a href="https://www.consumer.vic.gov.au/housing-and-accommodation/buying-and-selling-property/selling-property/selling-property-with-or-without-an-agent" target="_blank">More information can be found here </a>
 
<div> </div>
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jonathanchancellor-7SQnKwU6yx

Selling with out an agent in Victoria

<html><body>
The Brisbane housing market remains in favour of buyers with a new report finding most sellers have to reduce the initial listing price to snag a sale.
<a href="/expert-insights/buyers-favoured-over-sellers-in-queensland-commonwealth-bank-home-buyers-index">The Commonwealth Bank-CoreLogic Home Buyers Index (HBI)</a> April 2015, released today, found selling conditions had improved slightly over the past year and three months.
 
<img src="/images/2015/06/15/rpdatabrisbane.jpg" alt="">
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