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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 42659
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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I am thinking of appointing a real estate agent re sale

Customer Question

Hi I am thinking of appointing a real estate agent re sale of home, who says in the contract that they will pay my legal conveyancing fees, nil expenses ie advertising and marketing fees and only pay 1.7% in commission inclusive GST. Today I receive an email which says no sale no fee but, "vendor contribution required". What does this mean.
The other is, if the period of agents agreement is 3 months and no sale takes place, can the clause of waiting a further 30 days before appointing another agent be deleted from the agreement so as I can appoint another agent straight away.
Georgia
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.
Good Evening, My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.Vendor contribution means you have to pay something. You have to look at it carefully and see what it says.At the end of the agency agreement you have to give them 30 days notice terminating the agreement. If you don't then they are still the agent and can claim a commission even if you sell it. Also I would be worried about the fact it says they pay your legal fees. This should be clarified. How much are they going to pay towards the fees?
Customer: replied 1 year ago.
I told him that I insist on having my own. And he agreed. Just looked at the contract he had emailed to me and clearly it's all nil under clause D&E of the agency agreement. Nowhere does it give a specified amount other than what he will get as commission. Have u ever heard of vendor contribution required before.
Expert:  Leon replied 1 year ago.
Good Morning, If that is all it says then it is fine. If you are happy with the commission amount then you can sign it. No never seen vendors contributions I would put a loin through the words and initial next to it so that it is not there. I hope this makes sense and is of assistance. If there is northing further thank you for using my services. If I have missed anything, or you have any further questions please let me know If there is anything else in the future please do not hesitate to ask. Please do not forget to leave positive feedback. RegardsLeon