In Australia the most common method of selling shares is by using a broker or broking service to sell them on the share market.
You don’t need to have an existing relationship with a broker to sell shares you hold directly. You can use an online broking service like Sell My Shares who will take care of the whole process for you.
Using a broking service like ours means we will place your trade online on your behalf. You will be charged a brokerage fee usually consisting of a minimum amount and a small percentage of the value of the shares being sold.
An online broking service is typically a much cheaper option than engaging the full services of a stockbroker.
The process to sell shares online with a service like ours is very straight forward.
Before you start though, you will need a holding statement or dividend statement for the shares you wish to sell. These documents should have been provided to you at some point by the share registry and will specific key information and holding numbers, that you will need to give to the broker.
You will be asked to fill out a form for selling shares, in our case this is a simple online form, and provide some proof of identity. With Sell My Shares you don’t need to email or mail any documents (except in some special situations) – the whole process is managed online.
Selling shares involves the legal title of ownership being transferred with a formal settlement of the sale occurring two business day after the trade has been executed. The proceeds of your share sale are then sent to you on the third day.
There are some situations, such as, jointly held shares, deceased estates, shares held in maiden names, private companies and trusts, where you may require additional documentation to sell shares online.
The process for selling shares in some of the above circumstances can be slightly different, but from your point of view it should still be relatively simple.
It doesn’t matter what your situation is, we can help you sell your shares quickly.
Contact Jason, Steve or Teresa today with any questions you have about selling shares or if you get stuck at any stage of the process. Call us on 1300 722 852.
we can assist you in selling any ASX listed share, without opening a share trading account. This is particularity useful, if you don’t have any other shares to sell (or buy) and you just want to sell the shares in question with minimal fuss and move on.