Info
jp address:
148 Sydney Road, Coburg VIC 3058
jp phone:
(03) 9385 0000
jp fax:
(03) 9384 1114
Please fill in the form below
jp latest news
directors.MESSAGE
Thank you for your interest in our soon to be released onlineeauctions for real estate. Through clever innovation Justproperties® has a Real Estate selling system that will revolutionize the way Real Estate is sold and purchased now and well into the future. Succeeding in business is about moving forward, being first and staying one step ahead. Justproperties® has broken new ground to offer real estate online with cutting edge technologies which provide purchasers the opportunity and facilities to not only to view properties but also submit legitimate bids/offers to purchase properties directly, with the security of the transaction being facilitated by a licensed Estate Agent.
Let’s draw a comparison between traditional auction process and onlineeauctions, the one obvious difference is that we have removed the personal contact with an estate agent/ auctioneer however we have maintained a superior level of personal service. We believe that selling real estate is a process of a willing vendor and a willing purchaser being matched and our system provides this service at a fraction of the cost. The ultimate selling price is set by the number of willing purchasers who wish to purchase the property and supply and demand alternately determines the selling price. Contrary to what some Estate Agents may tell you we believe to sell Real Estate one doesn’t need to be a brain surgeon.
This provides an incredible benefit to purchaser’s who are offered a better deal when buying a property because the vendor does not have an expensive marketing campaign and high agents commissions to recover from the sale price. Just remember a high profile estate agent will most likely result in high marketing costs to sell your property.
We are able to sell properties on the onlineeauction system right throughout the state of Victoria; we are also looking at our options in all other Australian states and territories.
With our onlineeauctions vendors have a multitude of advantages
- Online DIY market appraisals
- Clear and transparent service
- Cost effective and fixed marketing costs
- Low cost fixed selling fee
- Market exposure to registered and qualified registered purchasers
- Are not affected by the weather on the auction day, for example heat/ rain or purchaser availability.
- We are able to sell properties throughout the State Of Victoria
- One low onlineeauction listing fee
With our onlineeauctions purchasers will benefit from
- Savings on the purchase price of the property
- Can bid for a property anytime of the day and any location worldwide.
- Are not subjected to pressured stress from estate agents.
- Are not hounded by follow up calls from estate agents.
- Don’t have to sacrifice their weekend days to attend real estate auctions.
- Can participate in a number of auctions simultaneously
- Download and review all legal documentation for example Section 32 Vendor Statement and Contract of Sale in peace and at their convenience.
Savings
|
Sale Price |
Justproperties® selling fee at 0.75% of the sale price |
|
$0.00 to $200,000 |
$1,500 |
|
$200,001 to $1,500,000 |
0.75% |
|
$1,500,001 and over |
$10,000 maximum |
Average saving which can be achieved by selling with Justproperties®
|
Sale Price |
Includes Justproperties® online mandatory listing fee, commission at .75% of the sale price |
Traditional Estate Agents *average sale & marketing costs |
*Vendor Savings |
Percentage Savings |
|
$200,000 |
$3,495** |
$7,000 |
$3,505 |
50.07% |
|
$375,000 |
$4,807** |
$13,125 |
$8,317 |
63.37% |
|
$500,000 |
$5,745** |
$17,500 |
$11,755 |
67.17% |
|
$1,000,000 |
$9,495** |
$35,000 |
$25,505 |
72.87% |
|
$2,000,000 |
$11,995** |
$70,000 |
$58,505 |
82.86% |
** Our fee’s includes the cost to arrange all the necessary legal documentation which is required to sell the property, once you pay the mandatory online e auction listing fee to Justproperties® we will arrange the Contract of Sale and Section 32 Vendor Statement which will be prepared by an accredited property Lawyer. Once your property is sold if you elect to use our recommended lawyers an additional fee of $300 irrespective of the sale price of the property will apply, this additional fee will be charged by the legal firm directly to you at settlement.
FREQUENTLY ASKED QUESTIONS BY VENDORS/SELLERS
A1 Yes we are licensed to sell Real Estate under the Estate Agents Act 1980 Section 22 under Corporate License No 024645L.
Q2 How long has jpJustproperties® Pty Ltd been in business?
A2 Our Real Estate company foundations date back to 1956, we have traded from our current offices since 1984, and we are an established and reliable agency.
Q3 Why have you decided to sell Real Estate through the internet?
A3 The world is changing very fast in the way Real Estate is marketed in March 2007 alone the major property internet advertising sites which we use had a total of 5.7 million hits realestate.com.au had over 3.7 million and domain.com.au had over 2 million hits, with over 70% of Australians who have access to fast internet (ABS), for these reasons we have invested heavily in technology and other internal Real Estate expertise have come up with what may be the first property onlineeauction system in the world.
Q4 Will an Estate Agent inspect my property if I decide to sell?
A4 No there is no need for us to inspect your property.
Q5 If you do not inspect my property how do I know the value of my property?
A5 Our web site will have a facility whereby any member of the public can carry out a free DIY property assessment/valuation on any property, initially this service will only be provided in the State of Victoria.
Q6 As Estate Agents you should provide me with your own opinion of the possible selling price, is this correct?
A6 Yes as Estate Agents we are required to provide the seller/ vendor with our opinion of value under section 47A of the Estate Agents Act 1980 which reads as follows: Seller must be given estimated selling price (1) Before obtaining a person’s signature to an engagement or appointment to sell any real estate on behalf of the person, an estate agent (or an agent’s representative employed by the agent) must ensure that the engagement or appointment states the agent’s (or representative’s) estimate of the selling price of the real estate, and that the estimate complies with this section. (2) The estimate (a) may be a single amount or a price range; and (b) must be the amount the agent or representative believes, on the basis of his or her experience, skill and knowledge, that a willing but not anxious buyer would pay for the real estate, or in the case of a price range, the range within which that amount is likely to fall; and (c) must be set out in a manner approved by the director. (3) If an estimate is expressed as a price range, the difference between the upper and lower limits of the range must not exceed 10% of the amount of the lower limit of the range. (4) Nothing in this section requires the estimated selling price and the seller’s reserve price to be the same amount. When you register with us to sell your property using our onlineeauction system you will be required to provide us with certain information about your property, our software has been developed and programmed to enable us to comply with the above statutory requirement.
Q7 How much will it cost me to list my property on the onlineeauction?
A7 To list on our onlineeauction you pay a fixed sum $1,995 at the time of listing your property with us, in return we undertake to 1) erect a quality wing full descriptive 8x4 foot color photo board with up to three photos, 2) Conduct two one hour duration open for inspections, additional opens can be arranged at additional cost $150 per open, 3) Professional photography internal and external, up to 20 photos, 4) Floor Plan, 5) Internet advertising in Justproperties.com.au, realestate.com.au, domain.com.au & if it’s a commercial property also in realcommercial.com.au 6) Arrange the preparation of all the sale documentation.
Q8 If we place our property on the market using the onlineeauction system can we nominate the closing time and date of the onlineeauction?
A8 Yes our system will give you the freedom to select your own date and time, however if for some reason we do not agree with the date and time you have chosen you can try other dates and times. For example we would not approve a closing date on a Sunday or other public holidays or a closing time on a Tuesday say at midnight, but we can assure you that as a seller you have far more options than people selling the old fashioned traditional way.
Q9 Will we be able to bid on the property or have friends bid on the property so that we can achieve a better price?
A9 Unlike traditional on site auctions where the seller /vendor can instruct the auctioneer to place vendor bids on their behalf, we will not take vendor bids and we ask our sellers/vendors not to engage in this conduct we intend to make Justproperties® the most ethical and transparent property auction house in the world.
Q10 What happens if we list our property on the onlineeauction and we don’t receive any bids?
A10 As with traditional on site property auctions sometimes no one bids as well, you can elect to re-list the property and attempt to sell as many times as you like until it sells, initially the onlineeauction fee is $1,995 GST Inclusive and any re-listing fee at a much reduced rate $550 GST inclusive.
Q11 What happens if the property doesn’t sell?
A11 We will notify you by email and give you the following options: 1) you can ask us to remove your property from our database and website 2) you can ask us to re-schedule another onlineeauction provided you agree to pay a discounted re-listing fee $550 GST inclusive, once you pay the re-listing fee we will set a new time and re-auction the property, we will carry out 2 additional open for inspection times to coincide with the new closing date of the onlineeauction. You will also have the option to alter the level of service you require at additional cost, for example you may elect 4 open for inspection times rather than 2, you may elect to advertise the property in the local newspaper all these options are available to you on a re- list or right from the start, you choose the level of exposure you are happy with. But remember we when you first list with us we have a minimum mandatory campaign which must take place to effectively let the world know that your property is for sale. 3) After 30 days from the closing of your onlineeauction you are free to sell the property either yourself or with the assistance of another Estate Agent.
Q12 Can we accept a bid before the closing time of the onlineeauction?
A12 The benefits of an onlineeauction is that you as seller/vendor have total control over the sale of your property , you can elect to sell whenever you feel comfortable with your decision to sell. You do this in the comfort of your own home from your computer.
Q13 Can we lower our reserve before the closing time of the onlineeauction?
A13 The benefits of an onlineeauction is that you as seller/vendor have total control over the sale of your property , you can elect to lower your reserve price as you think fit. You do this in the comfort of your own home from your computer.
Q14 Can we change our mind and ask for a higher price/reserve than we initially set at the time of listing our property?
A14 Yes however it is not recommended, to do this you will need to withdraw the property from the planned onlineeauction date and re-list your property this will attract a re-listing fee $550 GST inclusive.
Q15 What happens after the property is sold through the onlineeauction?
A15 We will advise you of the sale and confirm that the winning bidder has paid the preliminary deposit.
Q16 The online listing fee $1,995 includes amongst other things the costs to prepare the necessary sale documentation prepared by a property accredited lawyer?
A16 Our sale documentation will be prepared by Ebsworth & Ebsworth lawyers of level 41, 600 Bourke Street Melbourne Victoria 3000 email: bkarvela@ebsworth.com.au or www.ebsworth.com.au Attention: Bill Karvela Partner and accredited property law specialist.
Q17 Is there any other legal costs paid by us?
A17 If you elect to use the same lawyer that we used to prepare your Contract of Sale and Section 32 Vendor Statement, you will need to pay an additional $300 regardless what the sale price is the lawyer will deduct this amount from your sale proceeds at the settlement, this additional small fee is to effect your settlement regardless of the selling price and is only possible as a result of negotiations by us to bulk purchase legal services not readily available to single sellers.
Q18 Can we use our own family solicitor to complete the transaction after the property is sold?
A18 Once the property is sold you are at liberty to use whichever lawyer or conveyance firm you elect, however you must tell us who will be attending to the settlement of your property at the time of your registration with us, so that we can advise them of the sale.
Q19 We live overseas can we list our property for an onlineeauction?
A19 The onlineeauction is the best thing that has happened for overseas sellers/vendors since the first calculator was invented. Most overseas sellers/vendors have up to now been frustrated by the thought of selling their property. Now the sellers overseas can list their property online form the comfort of their own home. Hence our company slogan “realestatemaderealeasy” we think local and overseas clients will agree.
Q20 Once the property is sold how is the deposit paid by the purchaser?
A20 In order for bidders to bid on the onlineeauction they must register first and provide us with their credit card details, the winning bidder will pay $1,000 directly into our trust account immediately after the close of the onlineeauction.
Q21 How will the full 10% deposit be paid by the purchaser?
A21 Once the winning bidder has been confirmed the winning bidder will have 3 clear business days to pay the balance of the deposit directly into our Trust account or alternatively by bank cheque.
Q22 Our apartment is situated in the central business district and is on the 20th floor, the body corporate doesn’t allow estate agents to erect for sale boards on the common property?
A22 When you register with us one of the many questions we ask you is the type of property you are selling and its location in this instance our system will not order a for sale board and you will be charged a lower online listing fee. The online listing fee without the board in front of the property will be $1,645 GST inclusive.
Q23 Who will write the advertisements?
A23 No one knows the property better than the owner, for this reason we have left this task for you to complete, you will have all the necessary tools on our website to prepare the perfect advertisement. If assistance is required we can assist you.
Q24 How do I know the bidders online are real and not dummies?
A24 All bidders will need to register with us and we verify their existence, obtain their credit card details and address, date birth and much more, each bidder agrees and signs electronically our onlineeauction bidders agreement and onlineeauction rules these safeguards are much far superior than people bidding in a traditional street auction where any member of the public can bid and walk away without providing the agent their personal details.
Q25 Can we withdraw our property from sale prior to the onlineeauction closing time?
A25 You can withdraw your property at any time after you have listed with us.
Q26 Can we list our property with another estate agent whilst we are trying to sell through the onlineeauction system?
A26 No whilst your property is listed with us it is an exclusive listing with us and ends 30 days after the closing of the onlineeauction.
Q27 What happens if a buyer comes directly to us and wants to purchase before the close of the onlineeauction?
A27 We can not stop you from selling your property at any time; however when you list your property with us on the onlineeauction you agree that we will have exclusive rights to sell your property from the date we receive the legal documentation from the lawyer and up to 30 days after the onlineeauction closes. If you do decide to sell during this period you will be liable for our selling fee as per the scale above. We do not recommend you sell under these circumstances as the buyer will most likely pay more if he/she was made to compete with others until the close of the onlineeauction.
Q28 Do I have to show prospective buyers through my property?
A28 We will have qualified real estate agents or agents representatives open your property for inspection.
Q29 Can we have more than three open for inspections?
A29 When you register to sell on the onlineeauction we carry out 3 timely open for inspections however a seller can request more opens at additional cost.
Q30 Will an estate agent be present at our open for inspection times?
A30 Yes
Q31 If the winning bidder at the close of the onlineeauction doesn’t wish to proceed with the transaction what happens then?
A31 All our bidders will be required to register online before they are allowed permission to place bids, our security system will verify that the person exists and further more the bidder will be required to provide us with personal information and credit card details. Upon the registered bidder placing a winning bid our system will automatically take $1,000 from the bidder’s credit account and be issued with our trust receipt. Upon registration bidders will have to enter into a bidder’s agreement with us and agree to all the onlineeauction rules, at the conclusion of the onlineeauction the winning bidder has consented to be bound by the contract of sale. If the winning bidder for some reason doesn’t pay the balance of the deposit money to us within 3 clear business days from the closing time of the onlineeauction you can instruct your solicitor to take appropriate action against the winning bidder for any losses which you have incurred.
Q32 If my sale doesn’t proceed can we re-list the property?
A32 The re-listing fee would be $550 GST inclusive.
Q33 If we re-list for another onlineeauction for the same property what will your re-listing fee be?
A33 The cost would be $550 GST inclusive to re-auction using our onlineeauction system. If you were to re-auction your property using the traditional auction method it would cost substantially more, generally the auction expenses for marketing a property the traditional way either by auction or other method is generally approximately 1% of the value of your property, for example if your property is worth $400,000 the advertising costs would be approximately $4,000 this figure may vary between agents.
Q34 Who do I speak to or contact to list my property for the onlineeauction?
A34 if we haven’t answered any of your questions here you are welcome to ring us during business hours on 1300 JPJUST or 1300 57 58 78.
Q35 If our onlineeauction closing time is 8:00 PM on a Tuesday night and several bidders are still bidding for the property at 7:59 PM what happens then?
A35 If a bidder makes a bid 10 minutes before the scheduled closing time of the onlineeauction then the onlineeauction is extended automatically by another 10 minutes to allow other bidders time to place other bids, the onlineeauction therefore continues until there are no further bids for a period of 10 minutes.
Q36 When will bidders commence bidding on our property?
A36 Unlike traditional property onsite auctions where the bidding starts when the auctioneer asks for bids from people attending the onsite auction, with onlineeauction bidders can place bids at any time of the day from the comfort of their home or business location, from any location around the world.
Q37 When a bidder on our property is out bid by another bidder how will they know? ;
A37 If bidder A makes a bid on your property for say $5,000 and is out bid by bidder B by $1,000, bidder A would immediately receive an alert email and SMS mobile text message from us advising him/her that they have just been out bid by $1,000. If bidder A wishes to make a further bid he/she will need to log on to our site and place further bids. If bidder A is out bid during the last 10 minutes of the onlineeauction and is not able to get to a computer he/she can contact us by telephone and make a further bid after they have provided us with the necessary passwords and other personal identification.
Q38 What is the minimum and maximum amount that bidders can bid for? ;
A38 We have set a minimum bid of $500 and maximum bid no greater than 10% of your reserve price, if for example the reserve you set is $500,000 and the bidding starts at $400,000 a bidder can make a minimum advance of $500 which would raise the price to $400,500, however if another bidder wants to make a bid for $170,000 it would be refused as it has exceed the 10% above your reserve, the bidder will be told that the maximum bid would be $149,500 taking the property to $550,000, all further maximum bids from here on are set at 10% of the reserve at $50,000, these perimeters have been set by us to gauge any misuse of the onlineeauction system.
Q39 How many times can we re-list the same property for an onlineeauction?
A39 As many times as you like until it sells, initially the onlineeauction fee is $1,995 GST Inclusive and any re-listing fee at a much reduced rate $550 GST inclusive. All this is done by you from the comfort of your own home.
Q40 Can the property be located anywhere?
A40 Traditional Estate Agents in the past have worked around a localized area only for various reasons, we can cover all areas within the Melbourne metropolitan area and all regional areas.
Q41 What type of properties can be sold on the onlineeauction system?
A41 All properties are suited to the onlineeauction system, Residential, Commercial and Retail also Rural.
Q42 Who will attend the open for inspections from Justproperties®?
A42 Fully qualified Real Estate Agents or Agents Representatives.
Q43 Will we know who inspects our property at the open for inspections?
A43 Before prospective purchasers are allowed to inspect your property our agents or agent’s representatives will confirm the identity of the person who wants to inspect your property. At the end of each open for inspection session we will provide to you by email the following; 1) the names of those who inspected your property and any comments made.
Q44 Will we be able to see monitor the onlineeauction and view the bids?
A44 The seller/vendor will have access to the site and view the onlineeauction live, so too can the general public, you will also see the number of registered bidders and the number of people from the general public just viewing the onlineeauction live. You as seller/vendor will be provided with a unique code and password which allows you to enter our website and accept an offer at any time before the conclusion of the onlineeauction you will also have the ability to lower your reserve at any time.
Q45 Will the general public be able to view the onlineeauction?
A45 All traditional property auctions the general public can view, the onlineeauction is no different.
Q46 Can we keep the sale price of the property confidential after the property has been sold?
A46 If you request this we will not report your sale to the media, however the general public who viewed the live auction on the internet will know the result.
Q47 If our property doesn’t sell at the closing of the onlineeauction we note you have an additional 30 days exclusivity to sell the property, what will you do during this period?
A47 lets for example say your reserve was $420,000 and the highest bidder has offered $410,000, you also decided to reduce your reserve just before the closing of the onlineeauction to $415,000. At the end of each onlineeauction the highest bidder will receive an email advising him/her that the reserve in this case is $415,000 the highest bidder will have up to 10 minutes to decide whether to meet your reserve or make another of market offer to us/you, if after 10 minutes no sale is concluded the property bidding history is sent automatically to all bidders who registered to bid on your property. This continues up to 30 days after the close of the onlineeauction.
Q48 Can we add special conditions to the sale?
A48 All sales will be offered as per the conditions you set on the Contract Of Sale you will provide those instructions and conditions to the lawyer preparing the sale documentation.
Q49 Are all sales affected with the onlineeauction unconditional?
A49 All sales made with us are not subject to finance either before the onlineeauction or during the next 30 days after the close of the onlineeauction.
Copyright © 2007 jp just properties Pty Ltd all rights reserved Trademarks pending.
To register your interest in listing your property for an onlineeauction please complete the following form and we will keep you informed as the official launch date arrives expected July 1, 2007. Register now and sell your property commission free. This offer is only applicable for the first ten subscribers.