This Frequently Asked Questions (FAQs) section has been rightly composed to answer many of the questions you may have on various aspects of Real Estate and its allied services. Be it on Buying, Selling or Home Loans, we have tried to answer the most commonly asked questions. Choose a FAQ section, get cracking and become a Real Estate expert.
Category-2
Agents are required to pass on all signed offers to vendors that are in the prescribed form within 48 hours or at a later time agreed with the vendor. (ref LABSAC sec 21(1))
- Agents must take all reasonable steps to ensure the offer is in the prescribed form and signed by the prospective purchaser.
- If an offer is in the form of a contract for the sale of residential land in the prescribed form then the prospective purchaser will be bound if the vendor signs the contract.(ref LABSAC Regs 16B)
Category-3
The legal entity (agent or agency) whose name appears on the sales agency agreement must have their RLA (license registration number) on every property advertisement for any land or business.
For example: John Smith 0456 785 393 Smith Real Estate 8445 3334 RLA 1234
Category-4
If the vendor receives an unconditional offer over their stated selling price in the sales agency agreement but rejects the offer then the agent may be entitled to their sales commission if the sales agency agreement makes allowance for this.
If the vendor receives an unconditional offer over their stated selling price in the sales agency agreement but rejects the offer then the agent may be entitled to their sales commission if the sales agency agreement makes allowance for this.