Research on a national basis shows that more than 90 per cent of sellers are more concerned with getting the right service from a professional, reputable agent than simply agreeing to the lowest price. Remember that with agent’s services - as with
most things - you get what you pay for.
A:
Government regulations do not fix fees charged by real estate agents. The level of fees is by agreement between the real estate agent and principal.
The fee will be dependent upon the quality and quantity of the services that the principal
requires and are appropriate to the property for sale.
The aim is to ask for and receive those services that you are most comfortable with, and those which are most likely to find a buyer or tenant for your property in a reasonable period of
time, at a reasonable cost, and at the best possible price.
A:
REIWA does not supply any guidelines as to the level of fees that could be paid to a real estate and/or business agent for their service.
REIWA does not monitor the fees charged by its members.
Furthermore, it could be deemed a breach
of the Competition and Consumer Act for REIWA to be suggesting what fees could be suitable.
Fees are set by market forces. REIWA can only suggest that people compare the fees and service offered between several real estate agents before enlisting
their service.
A:
Yes, because there is no limit on the maximum fee that you can agree. However, to compare the fees of various agents you need to compare the services that are being agreed. Your agent will discuss the range of services available to you, and suggest the
most appropriate package to match your requirements.
A:
There is no government regulation as to the maximum fee that an agent may charge for his/her services.
The agent and the owner/seller must agree to the fee and it will be dependent upon the services the seller hires the agent to supply.
The agreed fee may be typed or in writing, but must be initialled by the owner/seller.
A:
Firstly, you should discuss your concerns with the real estate agent or sales representative.
If you consider the behaviour of the agent in the process of agreeing to the fee has been unjust, then you may contact the Department of Mines, Industry Regulation and Safety or phone the REIWA Information Service on 9380 8200.
A:
The agreed fee is paid;
Where the service is the sale of a property or a business, then the agent's selling fee is paid at settlement.
Where settlement is defined as the legal entitlement to the property passing from the owner to the buyer, or upon the buyer taking possession of the property.
Where the service relates to the management of property, the agreed fees are normally paid monthly.
If it is an off-the-plan sale, then the developer and agent may agree to payment prior to settlement.
