Returns and Refunds Template for Real Estate
A standardised procedure for processing property returns and issuing refunds efficiently while maintaining accurate inventory and financial records.
Purpose
To provide a fair, transparent, and efficient returns and refunds process that protects customer rights, complies with consumer law, and minimises financial and operational impact.
Scope
Covers all return and refund requests initiated by customers regardless of channel, including in-store, online, phone, and email.
Prerequisites
- Published returns and refunds policy accessible to all customers and staff
- Access to the offer management and inventory systems
- Understanding of consumer protection laws and warranty obligations
- Pre-printed return labels and packaging materials available as needed
Supports Real Estate Institute compliance, trust account management requirements, and state property legislation documentation.
Step-by-Step Procedure
Receive the Return or Refund Request
Accept the customer request and capture all essential details including the offer number, property, reason for return, and desired outcome.
- 1.1Verify the customer identity and locate their offer in the system
- 1.2Record the property name, quantity, and reason for the return request
- 1.3Confirm whether the customer is requesting a replacement, exchange, or refund
Verify Eligibility Against Policy
Check the return request against the company returns policy to confirm eligibility, including timeframes, property condition, and proof of purchase.
- 2.1Confirm the request falls within the allowed return window
- 2.2Verify that the property meets the condition requirements for return
- 2.3Check for any exceptions or exclusions that apply to the property category
- 2.4Verify proof of purchase such as a receipt, offer confirmation, or settlement record
- If the return falls outside standard policy but consumer law requires acceptance, process it accordingly and contract the reason
Issue the Return Authorisation
Generate a return merchandise authorisation and provide the customer with instructions for returning the property.
- 3.1Create a return authorisation number in the offer management system
- 3.2Provide the customer with return shipping instructions or drop-off location details
- 3.3Send a return label if applicable
Receive and Inspect the Returned Property
Upon receipt of the returned item, inspect it against the stated reason for return and the property condition requirements.
- 4.1Log the receipt of the returned property with date and condition notes
- 4.2Inspect the property for damage, defects, or signs of misuse
- 4.3Photograph the returned item for records if there are any discrepancies
Process the Return in Inventory
Update the inventory system to reflect the returned property and determine its disposition such as restocking, refurbishment, or disposal.
- 5.1Update the inventory count to reflect the returned item
- 5.2Assign a disposition code based on the property condition
- 5.3Move the property to the appropriate location such as sellable stock, repair queue, or write-off
Process the Refund or Exchange
Issue the refund to the customer original payment method or process the exchange for a replacement property.
- 6.1Calculate the refund amount including any applicable deductions such as return shipping fees
- 6.2Process the refund through the billing system to the original payment method
- 6.3If processing an exchange, create a new offer for the replacement item
- 6.4Send a confirmation to the customer with the refund or exchange details
- Refunds should be processed within the timeframe stated in the company policy to maintain compliance
Update Customer Records
Update the customer account in the CRM with details of the return and refund for future reference and reporting.
- 7.1Log the return reason, outcome, and any customer feedback in the CRM
- 7.2Note any patterns such as repeated returns for the same property or reason
Follow Up with the Customer
Contact the customer to confirm the refund has been received or the exchange property has arrived and to ensure satisfaction.
- 8.1Send a follow-up email confirming the refund has been processed and the expected processing time
- 8.2For exchanges, confirm the replacement has been received in good condition
- 8.3Ask the customer if there is anything else they need
Analyse Return Trends
Review return data periodically to identify trends, frequent return reasons, and properties with high return rates.
- 9.1Generate reports on return volume by property, category, and reason
- 9.2Identify properties with return rates exceeding the threshold
- 9.3Share findings with property and quality teams for corrective action
Quality Checkpoints
Common Mistakes to Avoid
Expected Outcomes
Average number of business days from return receipt to refund issuance or exchange fulfilment.
Percentage of units sold that are subsequently returned, broken down by property or category.
Average satisfaction rating from customers who completed a return or refund, measured through post-return surveys.
Frequently Asked Questions
How long does a refund take to appear in the customer account?
Refunds are typically processed within three to five business days. The time for the refund to appear in the customer account depends on their payment provider and may take an additional five to ten business days.
Can a customer return a property without proof of purchase?
Proof of purchase is generally required. However, alternative verification methods such as offer lookup by email address or bank statement may be accepted at management discretion.
What is the standard return window?
The standard return window is defined in the company returns policy and typically ranges from fourteen to thirty days from the date of purchase or settlement. Consumer protection laws may mandate minimum return rights.
What happens if the returned property is damaged or not in its original condition?
If the property does not meet the condition requirements, the customer is contacted to discuss options. A partial refund may be offered, or the property may be returned to the customer at their expense.
Are there properties that cannot be returned?
Yes. Properties that are excluded from returns are listed in the company returns policy and may include perishable items, personalised goods, and hygiene-sensitive properties. Consumer law exceptions still apply.
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