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Real Estate Agent agreements in Australia

Real Estate Agent agreements in Australia

Old Oct 19th 2004, 8:16 am
  #1  
ABCDiamond
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Default Real Estate Agent agreements in Australia

I've just had an email from a Real Estate agent

I was wondering if you have heard of a sole agency agreement? This agreement is between you & I. You can continue advertising your property as you are & if you sell your property, we are not entitled to any fees
Funny I thought, that didnt sound right, so I checked:

The QLD REIQ state: Under a sole agency agreement, the sellers pay commission to the agent regardless of whether the sellers eventually sell the property by themselves.

so I carried on looking and found:

Sole Listing: This is like an exclusive agency agreement however it also allows you to find a buyer privately. If you find a buyer who has not been introduced by your agent, then no commission is payable.

and

Open Agency Agreement: This allows you to list your property with a number of agents and you only pay a commission to the agency who finds the buyer.

sellers beware
 
Old Oct 19th 2004, 11:23 am
  #2  
Wol
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Default Re: Real Estate Agent agreements in Australia

You're hitting a sensitive spot here!

Having spent three weeks going around estate agents, we are of the opinion that virtually all of them rank below pond life here. No change there, then?

Our opinion is reinforced by the plethora of books detailing the dishonest, illegal and unethical behaviour of realtors in Oz. Ned Kelly without the dustbin!

All of which, folks, makes the Sydney house prices even less palatable! Don't come here expecting to pick up a palace for the small change left over after paying the movers.

And, based on our experience, don't expect to share the definition of the word "immaculate" with Oz agents. According to Mrs Rog I am the world's grubbiest, untidiest man yet even I baulk at the state of most of the places we've looked over. From $750k to nearly $4m! Is it just around Sydney that homes are somewhere to kip in and certainly never to clean? And this is the state of houses that people are trying to SELL, for God's sake!
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Old Oct 19th 2004, 12:29 pm
  #3  
 
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Default Re: Real Estate Agent agreements in Australia

Originally Posted by ABCDiamond
I've just had an email from a Real Estate agent



Funny I thought, that didnt sound right, so I checked:

The QLD REIQ state: Under a sole agency agreement, the sellers pay commission to the agent regardless of whether the sellers eventually sell the property by themselves.

so I carried on looking and found:

Sole Listing: This is like an exclusive agency agreement however it also allows you to find a buyer privately. If you find a buyer who has not been introduced by your agent, then no commission is payable.

and

Open Agency Agreement: This allows you to list your property with a number of agents and you only pay a commission to the agency who finds the buyer.

sellers beware
Yup you are right.....
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