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NSW Real Estate Agents

NSW Real Estate Agents can help you sell your property quickly. Most real estate agents in NSW are members of professional associations or are a part of a network of agents. Thus they have exclusive access to resources that can help them locate a prospective buyer easily, well within the period specified in the Agency Agreement.

The Agency Agreement is nothing but a contract between you and your agents containing all terms and conditions regarding the property to be sold. It contains all fees and commissions you must pay to the agent and also when these should by paid. The agreement can not be ended until the expiry of the fixed term specified in the contract or unless both the sides agree. In case of an open ended agreement, the contract can be terminated by either side on meeting the criteria laid off in the document. The agency agreement can be of different kinds, namely Exclusive Agency Agreements, Sole Agency Agreements, General Listing, Multiple Listing and Auction Agency Agreement.

It is possible for a seller to cancel agreement even after signing the contract. Known as cooling off period, this right can be exercised within a day of the signing of the agreement with the agent. A real estate agent in NSW generally represents a seller, but a buyer can also avail their services. The agent who works exclusively for the buyer is known as a Buyers' Agent. They provide helpful services to people looking for home or a residential property anywhere in the state. You may still require a written agreement to work with a buyers' agent.

The amount of fees and commission may vary and depend upon your negotiation with the agent. Most properties in NSW, which are up for sale either by auction or through private treaty, are handled by real estate agents. However, there also exists no agent real estate where you do not need the help of a real estate agent.

NSW Real Estate Agents Commission

The fees and commission charged by real estate agents or buyers' agents in New South Wales are not regulated by any government agency. It could be anything as long as you are satisfied with the quotes an agent may make. It is important to do a little bit of market research to know the prevailing rate of commission in your area. We recommend you to meet at least three real estate agents and get a list of all their fees. You can also obtain information regarding their licence, familiarity with the local market condition, expertise and past performances in handling properties similar to yours and whether they are a member of a professional organization and adhere to a code of ethics.

After comparing all these details, you will be in a better position to choose the best real estate agent suitable for your selling job. Real Estate Institute of New South Wales (REINSW) is the largest association of real estate agents in the state while Real Estate Buyers' Agents Association of Australia (REBAA) represents buyers' agents nationwide. Choosing a member agent of these organizations will ensure better services, competitive commission rates, low fees and fair dealings. A survey reveals that the general rate of commission in metropolitan areas of NSW ranges between 2 to 2.5 per cent. The rate may be higher in suburbs and areas located far from the city area.

NSW Real Estate Agent's Licence

How to become a real estate agent in NSW? The following paragraph is an attempt to answer this question. The law of the state has made it mandatory for a real estate agent to seek a licence from the NSW Office of Fair Trading. Even a real estate agency providing services here must possess an appropriate licence and a registered business name. The NSW Office of Fair Trading is the apex body that sets eligibility criteria for licensing and registration of business.

Courses are offered by Training Colleges or professional associations, such as REINSW to help a sales agent, auctioneer, property manager or any other real estate professional obtain an appropriate licence from the NSW OFT. The real estate agent course may vary according to the service area chosen and the years of service one has spent in the industry. The website of the Office of Fair Trading allows an individual to do a licence check or conduct a business name search online. For agencies and owner of a real estate business, it is possible to choose as well as register a business name online.

Complaint against real estate agents can be made in a number of ways. First of all, the professional association of which the agent is a member should be contacted. Most disputes are resolved at this stage. If you do not get justice here, seek legal advice from a solicitor or the Chamber Magistrate at a Court located near you. In case of your complaint against your conveyancer, you can lodge a complaint with NSW Office of Fair Trading.
Real Estate Institute of New South Wales (REINSW)
Obtain information on how you can become a real estate agent in NSW. Also find a range of real estate agent courses aimed at fulfilling your licensing requirements in the state..

Estate Agents Co-operative
An innovator in real estate industry with over 500 offices across NSW, Estate Agents Co-operative offers “multilisted” sales for homes, residential properties and rental houses..

First National Real Estate
A wide network of real estate agents operating at local levels, First National Real Estate offers houses for sale and rental homes in Springwood, Gloucester, Orange, Forster, Richmond, Manly, Forbes, and several other locations...


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