Maguires Real Estate | Mornington | South Eastern Suburbs
Maguires Real Estate | Mornington | South Eastern Suburbs
Maguires Real Estate | Mornington | South Eastern Suburbs

Thinking of Selling your Business with Maguires Real Estate?

What is the process for listing my business with your agency?
  • Once we have received your phone or email enquiry we will contact you to discuss what you are planning to sell and arrange a time to meet either for an inspection or a discussion of what is involved
  • You should bring to the meeting any recent financial figures you have e.g. turnover, profit and loss statements (last three years is preferable), Section 32 (if freehold is also for sale), copy of current lease as well as anything else that might be helpful in appraising or marketing the business such as brochures, menus, marketing materials etc.
  • We can arrange the meeting at a time which will not disturb your customers or staff. After inspecting the business and looking at the figures we will agree together on the best price to ask for the business in the current market.
  • We will then explain to you any charges involved in marketing your business (see below) and rates of commission. Please note that, under Victorian government legislation, we need to inform you that both commission and marketing charges are negotiable.
  • We can discuss times for inspection and whether or not you want a sign board and photography
  • If you decide to sign either an Exclusive or General Authority to list your business with us we will write up a description of your property for you to approve or amend and then begin to list your business on our website and on a number of the business internet sales sites.
  • Please note that Victorian government legislation requires that anyone selling a business in Victoria must provide the purchaser, at the time of signing a Sale of Business contract, a copy of a 'Statement by a Vendor of a Small Business' (Form 2, Section 52). This form must be prepared in advance by an accountant and must be signed and dated by both the accountant and the vendor prior to signing by the purchaser.
  • How much do you charge to sell my business?

    There are two components to real estate agents' fees:

    1. Fees for advertising and marketing

    Under Victorian government legislation Real Estate Agents are not permitted to charge more than what it costs them to pay for advertising and marketing. These days a key acronym in real estate circles is VPA (Vendor Paid Advertising). This means that almost all the costs of advertising that an agent occurs are charged back to the vendor, either at the time of signing the Authority, 30 days later or at settlement.

    Maguires Real Estate sees it differently. Many of the business and commercial websites are free for agents to insert standard listings and others are subject to an annual subscription. Our view is that the agent gets added benefits on top of his commission when the Vendor is expected to cover all the costs of advertising. Therefore we have decided to take the old fashioned approach of providing free standard listings on a number of websites and only charging for when you want to upgrade for added exposure. Standard photography is also free of charge as well as basic signage.

    Running a business normally involves considerable costs in terms of rent, staff and other overheads. Our approach is to avoid adding unnecessary extra costs when selling your business. We are therefore able to offer free listings on the following business sites:

  • (REIV)
  • (Domain) (freehold)
  • (Chinese website) (Optional)
  • 2. Agent's commission fees

    Please note that, under Victorian government legislation, agent's commission fees are negotiable. There is no charge payable to our agency if we are unsuccessful in selling your business. Our standard commission on a successful business sale is as follows:

    Normal charge for business sales

    $7,900 + GST if listed for up to $160,000

    5% + GST if listed for over $160,000

    Charge for sale of freehold property

    2% + GST

    Commission is paid at settlement and is usually taken from the purchaser's deposit, which is generally lodged in our Agency Trust Fund.

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