Good afternoon all
Does anyone know the legalities of listing a property for sale with an agent, then deciding to sell privately? Is there a time period after the contract with the agent has expired that has to pass before selling privately? What are the penalties for selling privately to a buyer who looked through the agent?
Cheers
Kez
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Dear Kerri67,
in Qld you can sell your property privately at any time no matter who you are signed with, the only catch is if you are under exclusive agency you will still be required to pay the agent commission.
exclusive agency: you pay the signed agent if: you sell, the agent sells or another agent sells the property
sole agency: you pay the agent if they sell the property, you don’t pay commission if you sell the property
open agency: commission is only paid the to the person who sells the property (be it any agent or yourself)
if your agency has expired you can sign a new agency or begin marketing the property yourself immediately…
hope that helps, if i haven’t explained that clearly please let me know.
e x
Hi again,
you may also like to check out:
http://www.reiq.com.au/buySellRent/default.htm
please note, this is only relevant for qld
The same situation applies in any state as emcdonald said. You have to check your lisitng contract.
Cheers,
Pete
…Beware of the dreamtakers…
BTW – I was part of the MAP Program and am more than happy to answer and questions/comments you may have – Happy Investing…
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