Selling a heritage property: A brochure for real estate agents

For a printable version of this brochure, click here (PDF 230Kb).

Real estate agents often use the terms 'charm,' 'character,' and 'original features' as positive selling points for heritage-listed properties. There are also many myths that may make selling a heritage-listed property hard work.

This brochure gives you information to better understand what heritage listing means, why it is important and address some of the myths.

Property values and heritage listing. Heritage listing can add value because of the status, especially where there a number of heritage-listed properties in a street and overall amenity is protected. Australian research shows that the impact of heritage listing on property prices can be positive. Like any property, its value will be affected by a range of factors including size, location, trends in the real estate market cycle and the quality and maintenance of the property.

Development and renovation. Developments and renovations are possible. The Tasmanian Heritage Council approves 97 per cent of works applications it receives, sometimes with conditions. There are also some cases where a full works assessment is not required such as wallpapering, repainting or even updating an outdated bathroom.

Maintenance requirements. While there is no legal obligation to maintain a listed property, a Repair Notice can be issued for extreme cases of neglect. However, most owners take care of a property so it retains its value and to grow their investment.

Insurance issues. Normal insurance cover is usually sufficient for heritage-listed properties, but the true value of the property must be carefully considered.

Financial help. The Tasmanian Heritage Council has a conservation funding program to help property owners with urgent and essential maintenance work. Some local councils also have similar programs.

Your home is still your castle. Heritage listing does not allow the Heritage Council, Heritage Tasmania or the general public entry to your property without your permission. The Heritage Council does not do inspections, unless invited on to the site, and does not need to be informed of normal or routine minor maintenance.

Enquiry service. Before buying, many prospective buyers seek advice on whether or not a place is listed and if it is, what changes they can make. These free services provided by Heritage Tasmania give buyers the confidence that their vision for the property can be realised. Some buyers require more formal advice. Buyers can be provided with a formal certificate stating whether or not a place is listed. This can be completed as part of normal conveyancing work for a nominal fee.

Heritage listing. There are a number of different heritage lists which causes confusion for owners and prospective buyers. All lists have a common goal of identifying places of heritage value, but not all lists have obligations attached.

• World and National Heritage Lists - You'll probably never have one of these sites on your books, but it's important to know that our most significant places have added controls to protect their values.
• Tasmanian Heritage Register - This Register is official recognition that a place is of historic heritage significance to the whole of Tasmania. Entry in the Register requires owners and local councils to refer any development that might affect the significance of the place to the Tasmanian Heritage Council for consideration.
• Local Heritage Schedules - Many local councils have a heritage schedule as part of their planning scheme. There may be special controls set down in the planning scheme to protect the values of an individual place, precinct, suburb or town.
• Register of the National Estate - This Register has no legal implications for owners and is no longer being used by the Australian Government.
• National Trust Lists - This community-based list is sometimes referred to as 'classification.' It has no legal implications for owners and is no longer maintained by the Trust.