Choose your agent carefully. A good agent will know the market and the industry well and be able to give you information on market trends and recent sales. Management Rights as stated above are complicated so make sure you set aside some quality time to build a solid foundation with your RAAS RIGHTS sales representative to ensure that the information we collect to give to buyers is as accurate as is feasible. If the listing is taken professionally there should be no matter that might stand in the way of a contract on your complex proceeding through to settlement. You can assist by having copies available of the documents set out below when it is time to meet with a RAAS RIGHTS consultant. While this may seem a nuisance now, I can assure you it is time well spent. The alternative might well be having your sale fall through due to an inadvertent oversight. Please choose your agent on what they can do for you not what they charge. We are not the cheapest broker nor the dearest, but we are the best.

Do your homework on the market.  Find out what is a reasonably achievanble price in the current market. There is a very old addage in real estate "Does the owner want to list the property or sell the property." If you genuinely want to sell, real estate is the same as every other commodity; the best priced product sell first and more quickly. If you need information on recent unit sales in the complex or the multiplier achieved recently for similar complexes, your RAAS RIGHTS representative will be able to assist. They will have access to the full database of recent unit sales in Queensland and our own database of recent management rights sales.

Give your agent accurate figures. The vast majority of contracts that fail, do so because the information provided to the buyer via the owner is inaccurate or incorrect. In most instances this is because the seller used false economy and prepared the figures themselves. Sellers can avoid a world of potentail pain by having their industry accredited accountant prepare a specific set of accounts for sale.  

Ensure your agreements are air tight.The other main area where contracts fail is by not passing legal due dilligence. This relateds to both ensuring that all your Forms 20a are complete with asignment clauses and having your solicitor check that both letting and caretaking agreements are in order. 

Complete the RAAS RIGHTS "Preparing for Sale Checklist" I know, only 5 tips seemed to good to be true. The following check list of 21 recommended actions will help keep you on the path to a successful sale.

Many of the items below might be undertaken months before the actual listing decision is taken however it is better to be over prepared than not at all. In addition to the items below, we suggest you grant permission for us to take photographs of the complex and the manager’s unit. These will not be used in web or other advertising without your express consent, but will be emailed to interstate or overseas parties who are seeking further information on your complex. Photographs might well precipitate a trip to make an inspection.   Preparing for Sale Checklist. This can be downloaded in Word Format by clicking HERE. 1.    Plan ahead, as far ahead as possible. It may mean starting now. 2.    If you are being tempted, stop tickling the till now. $100 taken in “black money” will cost maybe $450 on sale. 3.    Start now if you want to try to change to an Accommodation module. 4.    Seek professional advice about extending your term if the remaining years have dropped to below 13 or so for an Accommodation module or below 7 for a Standard module. 5.    Start a log of jobs you have done for free or jobs done outside your prescribed job description. This list may prove invaluable when you approach the Body Corp with any sale related requests.  6.    Have a set of “For sale” accounts “prepared by an MR specialist accountant. 7.    Get all your 20a’s with assignment clauses in order. 8.    Have your solicitor ensure that your agreements are up to date. 9.    Have copies of B/Corp Agreements, Deeds of Assignments, Variations, Bylaws, Occupational authorities etc. available at hand. 10.  Consider updating the Body Corporate salary to current market levels for a complex of your size. 11.  Have inventories of office and equipment as part of the sale available to the agent. 12.  Present the complex in a clean and tidy condition. 1st impressions count. Swimming pool sparkling and inviting.. NOT full of leaves and dirt. 13.  De-clutter the managers unit, it’s the buyers next home too. 14.  De- Clutter the office and have your systems on display: A business should look so well organized that the buyer is not daunted by taking it on. 15.  Deal only with brokers, solicitors and accountants who specialize in the management rights industry. 16.  Deal with a broker who can minimize the real cost of commission. RAAS RIGHTS have devised a legal way of achieving major tax savings in this area. 17.  Help the agent to help you. Let him take pictures to email to interstate and overseas clients (they won’t be published) and be ready to invest a little in the marketing of your major asset.  18.  Leave the selling to the agent during inspections. Many an owner has shot a sale down by making an apparently innocent comment. 19.  Give consideration to getting a formal valuation done on the managers unit by a firm on the major bank's panel of valuers. 20.  Make sure its you who lets the the body corporate know the business is on the market. Don't have them find out from an external source.  21.  Have your RAAS RIGHTS consultant show you evidence of recent sales for complexes similar to your own. Both before the listing and during the marketing period.