Authority Types Instructions

There are three types of authority you can choose on the platform: Exclusive Auction Authority, Exclusive Sale Authority and General Sale Authority.

There are two main ways of selling a property: by auction or private sale.

1. At a Public Auction:

- The price is determined by competitive bidding between prospective buyers.

- The contract is unconditional. 

- The buyer cannot make it subject to conditions such as finance or inspection.

- There are usually additional costs, such as the auctioneer’s fee.

- You may have a better opportunity to sell by a specific date; however, there is no guarantee your property will sell.

- There is no cooling-off period. 

2. In a Private Sale:

- You negotiate with a buyer to agree on a sale price and terms. You can also do this through an agent (if you have engaged one)

- The contract of sale can be conditional, with your approval. This means the buyer can make the sale subject to obtaining a loan, a satisfactory building inspection report, or other conditions

- For residential and small rural properties, the buyer has a three business day cooling-off period (with exceptions).

This is the most common type of sales authority. It means you appoint one agency to market and sell 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.

Vendors should not sign more than one exclusive authority, as you may have to pay more than one commission in certain circumstances.

An exclusivity period is a length of time (usually 30 to 60 days) during which a seller is prohibited from carrying out or furthering activities that relate to the sale of a firm with parties other than the prospective buyer with whom they have signed a letter of intent.

This is less common. You list with more than one agency but only pay commission to the agency that sells your property.

You can negotiate many aspects of the sales authority with the agent.