An intensive program over 3 to 5 weeks using profile
building marketing over 3 phases. The first is with
larger ads leading to the following stage Auction day,
followed by a third stage of marketing if for some reason
it is still needed.
These are the items that stay with the home when it
sells, eg: carpets, light fittings, drapes, curtains
etc. Often special items are added to the contract,
eg: dishwasher, spa pool. Specific items can also be
Comparable Market Analysis - a price comparison of your
home with others.
The fee for selling the home, payable by the Vendor
to the Real Estate Agent.
A signed contract between the Vendor and the Purchaser
where one or more conditions need to be met within a
specified time-frame, eg: it could be subject to the
Purchaser raising finance or the Vendor undertaking
When either party rejects an offer from the other, and
returns the offer, signed but after making alterations,
generally to the price.
Certificate of Title. All land in New Zealand has a
Certificate of Title.
The initial payment, by the purchaser at the time of
signing the agreement to purchase. Part of the purchase
price and held in the agents Trust Account.
Regular written report from your agent on market and
buyer reaction to the property.
Promotional pamphlets on the property, including photographs,
distributed throughout the neighbourhood and to targeted
A listing that is open to any agency and their sales
Government Goods and Services Tax which is payable on
the fee charged. GST is not normally charged on the
price of a home. When it can apply, like on a new development
or speculation, the home is usually sold with the GST
included in the price. But each case may vary and the
Sale and Purchase Agreement will show the details in
A contract between the owner of the home and the real
estate company selling the house. This will say whether
it is a General, Exclusive, Tender or Auction Listing.
It will state the fee to be charged for a sale and any
This is a form filled out by the Vendor to assist the
Salesperson to promote the home.
Money paid by the vendor to increase the advertising
spend on the property.
A promotional package designed to give a home accelerated
exposure to the market. It will specify dates, / Schedule
sizes, types of ads used and the various media involved.
Putting a home on the market without a price and allowing
feedback from buyers in that marketplace to guide you
towards the eventual selling price.
A purchaser is entitled to inspect the title to the
property and can object, stall or annul the sale if
this is defective. Auction sales require the purchaser
to inspect and approve he title before purchasing.
Presented normally in written form where a buyer is
saying they are prepared to buy a home for X amount.
Overseas Investment Commission. This applies only to
the sale of land over 2.5 hectares. Any foreigner must
get permission to purchase such land. This is to prevent
too much of our land getting into foreign ownership.
The day you move to your new home and pay the balance
of the purchase price to the vendor.
The eventual buyer of the home.
The price at which a vendor will not sell below at Auction.
A buyer must bid to this figure or higher.
Held in the last few days before an Auction where the
agent and vendor assess market feedback and set a Reserve.
A Sole and Exclusive right for the agent to sell the
property. Normally for a set period with one agent responsible
for managing the sale.
A condition inserted into the contract, normally for
the benefit of the purchaser. The contract is confirmed
once they have satisfied that condition by the stated
An audited non-interest bearing account where the deposit
money for a home is placed. It is held for ten days
or until any special conditions are met before being
released to the vendor.
Similar to an Auction but without the Auction day. Normally
the vendor assists with an increased level of marketing
and the campaign runs 3 to 5 weeks like an auction.
The real estate market is subject to supply and demand
like any other market. The type of Market you enter,
can affect eventual price and time to sell.
This is a contract with no conditions. This is binding
on both parties and must be proceeded with.
Period between choosing your agent and the date of release
to the market. Allowing time to prepare property for
best presentation and for the agency to prepare the
best marketing copy and cover all media aspects.
The seller, i.e. The person selling the home.