What Is The Cheapest Way To Sell Shares One-Off?

One-off share sales can enable you to sell Issuer Sponsored Shares quickly and efficiently without the need to open a trading account with a stockbroker. Selling your shares on the Australian Stock Exchange in a one-off transaction is a simple process and can be much more convenient for shareholders who have acquired shares through:

• IPOs or Initial Public Offerings such as Telstra
• Demutualisation processes like Insurance Australia Group (NRMA moving to IAG)
• Employee Share Schemes
• Inherited shares from a deceased estate

At Share Sales Direct, we offer a one-off share sale service for shareholders who want to sell shares without the hassle of a trading account. We always strive to sell your ASX-listed shares at market price and will pay you straight into your bank account, making selling your shares a quick and easy process.

Why choose one-off trading? 

The traditional way to sell your shares involves opening a full trading account with a stockbroker and filling out a large amount of documents for this purpose. This process is time-consuming and it can be months before your account is actually active and ready to use for trading. Buying and selling your shares is encouraged on a regular basis when opening a trading account as well.

While this approach may work for shareholders who wish to invest frequently, it is not a practical method for one-off share trading.

Share Sales Direct is an online share trading platform that can sell your shares without the need for a stockbroker or any waiting around for paperwork. After filling out an online form, you can have the sale of your shares processed in minutes, and all the proceeds in your bank account within a couple of business days.

Process of one-off share sales 

The process of selling one-off shares online is as follows:

• Fill out the online form
• Verify your identity online with ID and personal information
• Supply your SRN and shareholder information
• We sell your shares
• Sale proceeds and brokerage fee will be sent through

For complex share sales that require additional legal document verifications, you may be asked to fill out another form or provide additional proof of identity.

Forms, eligibility and documentation

One-off sales for shares owned do not require a large amount of paperwork or documents. At Share Sales Direct, we strive to provide quick and efficient services above all else, which is why our online form and verification process has been developed to be as easy to use as possible. To be eligible to sell your shares with Share Sales Direct, you must have a listed Australian address and must have ASX-listed shares.

Our online form has information that needs to be filled out by the shareholder such as:

• Shareholder's name (specific to what is written on your holding statement)
• Shareholder's address (it must be Australian)
• Contact details
• Bank account details
• SRN or HIN of the one-off shares you wish to sell

You will then need to provide verification or proof of your identity to show that you are the shareholder. This will include a primary proof of identity document such as an Australian Driver's Licence or an Australian Passport. There may be further documentation required for complex share sales, which will be indicated if necessary.

Pricing and brokerage fees 

At Share Sales Direct, our online share sale service aims to be affordable, efficient and easy to use. While there are no account fees involved with one off share sales, there is a brokerage fee that is taken out of your cash profits as a percentage. Our pricing for selling shares are as follows: