NHBRC and estate agents

Question 1

Role of the NHBRC

Answer 1

National Home Builders Registration Council
Newly built houses must be registered
Builders and contractors must be registered
NHBRC ensures standards are met

Question 2

Responsibility of builders

Answer 2

Must register new houses with NHBRC
Fix defects relating to plans, specifications, workmanship, materials
Repair roof leaks within 12 months
Provide a 5yr warranty for structural integrity
Ensure you sign a letter confirming acceptance of occupation and file a copy with the NHBRC

Question 3

General role of Estate Agents

Answer 3

See buying/selling goes smoothly
Protects interests of client
Give info about schools, medical facilities, shops, amenities, crime levels
Advise on fair market value of the property
Assist buyer with loan application
Can apply for bond on behalf of buyer
Disclose all facts about property
See money paid by buyer is paid into correct account
Give advice/manage entire buying process
Mediate disputes

Question 4

Role of Estate Agent when buying

Answer 4

Professional knowledge
Analyse your needs
Process all paperwork
Disclose any defaults

Question 5

Role of state Agent when selling

Answer 5

Markets house
Brings in potential clients
Processes all paper work
1,5% to 7% (average 5 to 7) commission on house’s selling price

Question 6

What is a sole mandate

Answer 6

Only one estate agent can sell the property
Increases competition, can get house sold quicker
Better marketing opportunities for your property