thread: Agent getting 3 commissions on our sale

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  1. #1
    Registered User

    Jan 2011
    2,075

    Definitely check. I had a feeling that the agent can't represent the buyer and seller? Maybe only in SA...

    Check your contract...hopefully he's in breech

  2. #2
    Registered User

    Jan 2011
    2,075

    Bingo!

    Checked their website under real estate agents code of conduct.

    Section12 "conflict of interest"
    An agent must not accept an engagement to act, or continue to act, where to do so would place his or her interest in conflict with that of the principal.
    An agent shall not without the prior written consent of the principal, directly or indirectly, purchase or take on lease or be in any way concerned or interested, legally or beneficially, in the purchase or taking on lease of any real estate or business which the agent is engaged to sell or lease.
    An agent who directly or indirectly purchases or takes on lease or is in any way concerned or interested, legally or beneficially, in the purchase or taking on lease of any real estate or business which the agent is engaged to sell or lease shall not demand, retain or receive a commission unless the principal has agreed in writing to pay the commission at the same time as or following the signing of the consent referred to in section 10(2).

  3. #3

    Nov 2007
    Earth
    4,434

    Just spoke to REIWA and basically it's fine. The only thing we can do is change settlement agents so he doesn't get a fee from them, so I'll do a bit of a ring around and see if anyone is cheaper - I certainly don't want his referral fee coming from MY pocket!