The Problems with Changing Between Real Estate Agencies

The Problems with Changing Between Real Estate Agencies

The Problems with Changing Between Real Estate Agencies.

If you’re about to sell a property, there is a nasty trap you need to be aware of.
 
We acted for a couple who listed their home on an “exclusive agency” basis with a local Real Estate Agent.  The property didn’t sell.  After the three month contract had apparently lapsed, the couple listed their home with a different agent, who quickly sold the property.
 
Unfortunately, the couple failed to contact us prior to the sale, so they didn’t know they were legally obligated to formally terminate the first agency in writing.  This obligation applies even though the initial contract had expired.
 
Because the couple didn’t terminate the contract, they were legally obliged to pay the same amount of commission to both agents, so their initial selling expenses ended up being twice what they had originally budgeted for.
 
We can help you avoid the potential pitfalls of selling your property.  We keep track of these complex and frequently changing laws.
 
So call us before you embark upon the sale of your property, and you’ll enjoy a smooth, problem free sale. If you have ANY concerns or queries, please feel free to email property@hatzis.com.au or call 1300 HATZIS (1300 428 947) .

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