All Topics / General Property / Selling privately after listing with an agent

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  • Profile photo of Kerri-67Kerri-67
    Member
    @kerri-67
    Join Date: 2004
    Post Count: 37

    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 :)

    More investment strategies —> http://www.ucanretirewealthy.com

    Profile photo of emcdonaldemcdonald
    Member
    @emcdonald
    Join Date: 2004
    Post Count: 162

    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

    Profile photo of emcdonaldemcdonald
    Member
    @emcdonald
    Join Date: 2004
    Post Count: 162

    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

    Profile photo of williwilli
    Participant
    @willi
    Join Date: 2002
    Post Count: 186

    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…

Viewing 4 posts - 1 through 4 (of 4 total)

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