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OPINIONby Tim O'Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au
There is an old joke about Lady Cul de Sac. She did not want the title, but there was no way out.
Julie James (not her real name) did not want to complete the contract she signed to sell her investment property after she received a significantly ...
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Be very careful! I am in the process of writing a guide to the REIV Exclusive Sale Authority, exposing the nastiness of this document. You will find that the property does not really have to be sold for the estate agent to become entitled to put his hand out for a commission. Click on the following link to see what has been ...
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When a Real estate agent works for the other side can I get a reduction in commission?I recently sold a property in Ipswich and enlisted a local Real Estateagent to handle the sale. It became obvious right from the start he wasworking for himself and the buyer and not for me the seller who employed him.
He was ...
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by Tim O'Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au
Carly Gillard was staggered, after settling the sale of her Northern New South Wales property, to find herself facing commission claims from two real estate agencies. Her property had been listed with both agencies, but only one secured the ...
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Gary, if this is how he treats his loyal staff I can only guess at how he would treat his clients!
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Hi Trev,
While the Exclusive Sale Authority used by estate agents states that the estate agent is entitlted to a commission on the obtaining of a ''binding offer'' (see the fine print in the Exclusive Sale Authority for the definition of this term), there is good authority to say that if there is no eventual sale the estate agent is NOT ...
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by Tim O'Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au
Brisbane conveyancing solicitor Chris Bridge became concerned when he noticed that his buyer client’s contract included a special condition authorising the pre-settlement release of the selling agent’s commission. Such a “pre-draw” practice may be ...
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by Peter Mericka B.A., LL.BReal Estate LawyerQualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd
The Real Estate Institute of Victoria (REIV) has been forced to come clean, and to admit to consumers that ''...no binding contract exists until the successful bidder and the vendor have signed a contract.'' A ...
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by Peter Mericka B.A., LL.BReal Estate Lawyer Qualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd
As any lawyer or conveyancer will confirm, a contract may have to be cancelled for a variety of reasons, even after it has become unconditional. But what if the estate agent has already spent the ...
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by Tim O'Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au
Below are comments I have received independently from a couple of legal colleagues. They are clearly quite concerned about the ‘costs consequences’ of conveyancing solicitors’, rather than real estate agents’, preparing sales contracts. The first ...
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