Consumer Affairs and Fair Trading Tasmania provides little or no information on their website for those who choose to sell their home or property privately without the assistance of an agent.
The site deals mainly with the Acts and Regulations governing Real Estate Agents under the Property Agents and Land Transactions Act 2005.
As with all other States, every home owner has the right to sell their property privately and the most important issue to cover for any private home seller is seeking legal advice from a solicitor or conveyancer BEFORE listing your home or property for sale. Knowing your legal and contractual obligations from the outset is highly advisable.
Also note that the Real Estate Institute of Tasmania (REIT) does not offer any specific advice regarding Selling a Home or Property Privately, but does offer some information and tips regarding the sale process, under the services of an agent. There is some helpful information here, with the most notable being that Tasmania will be introducing a mandatory ‘Vendor’s Statement’ for home owners selling their property whether privately or through an agent.
It is important to note that the individual, State by State, Real Estate ‘Institutes’ (e.g. REIT) are industry-based bodies who support Real Estate brokers/agents in the areas of training, advice, dispute resolution, Government advocacy, compliance and general support. Laws involving the transaction of property (contractual obligations etc) are set down in individual State Statutes and Acts – enacted by the State Governments and enforced by each of the State Offices of Fair Trading, Dept. of Commerce or Consumer Affairs etc., not the Real Estate Institutes
We encourage you to visit the Consumer Affairs and Fair Trading website for updated or additional information about selling your own home, or contact them directly:
Phone: 1300 65 44 99