11th October 2017
Selling price must be states in the agreement
Did you know that an AGENT MUST give an estimate of the likely selling price, else agent MUST NOT enter into an agency agreement?
This is what they Property, Stock and Business Agents Act 2002 states:
72A Estimated selling price in agency agreement for sale of residential property
(1) A real estate agent must not enter into an agency agreement with a person for the sale of residential property unless the agreement includes the agent’s estimate of the likely selling price of the property.
This means, if you signed an sales agreement and there is NO PRICE of the property on the agreement, the agreement is NOT binding or enforceable.
Please aware, when you are selling your property, especially when the agent gets a super price, beyond your expectation price for your property!
Check your agreement and make sure it is binding!
Licence Real Estate Agent | Stock and Station Agent| Auctioneer | Strata Manager
Oracodes Realty Pty Ltd
Licence Real Estate Agent in NSW.