Appraise a tenanted house and prepare the listing

What is going on

The Sandhurst Family Property Trust is considering selling a four bedroom house in Upper Coomera that Vantage also manages as a rental. The tenants are on a fixed term lease until June 2027. The trust wants an appraisal with a price range, the reasons behind it and a marketing proposal by 15 September, and has asked whether to sell with the tenants in place or wait until the lease ends. Comparable sales in the area over the last six months range widely because of a new estate release. The Sales and Leasing Manager will review your appraisal and the listing documents before anything is sent, and he has reminded you that the tenancy, entry and disclosure rules apply to any inspections and marketing.

Your brief

Prepare a written appraisal supported by comparable evidence and a recommended price range, advise the owner on selling with the tenancy in place, and draft the listing agreement, disclosures and marketing plan in line with the legislation and the Conduct Policy.

Work through it

You do not need to do it all. Doing a few of these will show you what the work is like. Your ticks and notes stay on this device.

• Read the Professional Conduct and Ethical Practice Policy and the Privacy Policy and note the disclosure, conflict and information handling requirements for an appraisal and listing.
• Research at least five comparable sales from the last six months, record their attributes and adjust for differences to support a price range for the subject property.
• Review the tenancy register entry for the property to confirm the lease term, rent and tenant details, and identify how the tenancy affects marketing, inspections and settlement timing.
• Write the appraisal report with the price range, the evidence, the market conditions and a clear recommendation on selling with tenants in place, including the notice and entry obligations for open homes.
• Draft the listing agreement with the correct commission, marketing costs, term and disclosures, and a marketing plan with a campaign timeline, photography, online listing and open home schedule.
• Log the proposed open home dates on the job board with the tenant notice dates, and note in the tenancy register that the property is being appraised for sale.
• Prepare a review note for Ben Okonkwo listing the assumptions, the risks in the price range and any disclosure the owner must make to buyers.

What someone in this role would produce

• Written appraisal with comparable evidence and price range
• Advice note on selling with tenants in place
• Draft listing agreement, disclosures and marketing plan
• Review note for the Sales and Leasing Manager