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 commercial or freehold property with Maguires Real Estate?

What is the process for listing my commercial property with your agency?
  • Once we have received your phone or email enquiry we will contact you to discuss the property you are planning to sell and arrange a time to meet for an inspection
  • You should bring to the meeting any relevant documents you have e.g. Section 32, copy of current lease and recent rental statements, site plans (lot and buildings) stating area size, zoning etc. as well as other information you have about recent commercial sales in the area and what other vendors are receiving for rent and sales per square metre. We will also bring our data gained from our subscription to the REIV Property Data site
  • We can arrange the meeting at a time to fit in with your tenants and their customers or staff.
  • After inspecting the property we will provide an appraisal of 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, sign boards and photography
  • If you decide to sign either an Exclusive or General Authority to list your commercial property with us we will write up a description of your property for you to approve or amend and then begin to list it on our website and on a number of the commercial internet sales sites.
  • How much do you charge to sell my commercial property?

    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 charges 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.

    Many commercial property owners are selling because of the high cost of mortgages and overheads. Our approach is to avoid adding extra to your already considerable costs.

    Marketing of your commercial property is therefore provided free on the following sites:

  • (REIV)
  • (Domain) (freehold) 

  • 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 rates for a successful commercial or business sale is as follows:

    Charge for sale of commercial freehold property

    2% + GST

    Charges for business sale (if sold as part of the commercial sale)

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

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

    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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