A Guide to Agency Agreements
When a person plans to sell their property with the help of a licensed real estate professional, the licensee must prepare an Agency Agreement, which contains details about the property and what the seller has authorised the licensee to do on their behalf to market and sell it. It outlines the commission rate and marketing plan. The agency agreement needs to be signed by both parties before the real estate professional conducts any real estate agency work on behalf of the seller. The Residential Property Agency Agreement Guide, approved by REA under the Real Estate Agents Act 2008, provides information on how this process works.
Licensed real estate professionals must give you a copy of the guide before you sign an agency agreement.
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