Tag Archive: Commission

Richard Wood Solicitors Letter – An Estate Agent Attacks

Posted on August 26, 2007 by | 0 Comments
by Peter Mericka B.A., LL.BReal Estate Lawyer Qualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd On 3 August, 2007 I published a posting titled “Richard Wood Solicitors – Gifts To Agents For Client Referrals“. On 13 August, 2007 a person identified only as “David” posted the first of a number of comments attacking me personally on the basis of my ethics. The attack would have been unremarkable, except for the fact that the estate...

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When Does A Purchaser Pay The Agent’s Commission?

Posted on June 28, 2007 by | 2 Comments
by Peter Mericka B.A., LL.BReal Estate Lawyer Qualified Practising Conveyancer VictoriaDirector Lawyers Real Estate Pty Ltd Purchasers don’t expect to have to pay an estate agent’s commission, but what if the contract is booby-trapped with a special condition that requires the purchaser to indemnify the vendor? We were asked to advise on a contract prepared by Davis Lawyers of Melbourne, for a property being sold through Edward Letico Real Estate. It would appear that the...

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Early Release (Or Stealing?) Of Commission

Posted on May 10, 2007 by | 1 Comment
by Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate watchdog@argonautlegal.com.au A solicitor mate of mine, Chris Bridge, recently had two celebrations: thirty years of legal practice and his first (possible) win with Queensland’s Office of Fair Trading. Queensland has no statutory equivalent to Section 27 of Victoria’s Sale of Land Act (for early deposit releases) as mentioned in Peter Mericka’s article “Early Release of Deposit”. Here it is quite uncommon for the parties to...

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How The Regulator Went Through Ray White Like A Dose Of Salts

Posted on May 4, 2007 by | 0 Comments
by Tim O’Dwyer Solicitor* A year after I lodged a bait-advertising complaint with the Australian Competition and Consumer Commission, the ACCC completed its investigations. And, blow me down, the occasionally-maligned regulator produced an extraordinary result. Undertakings, seeking to ensure compliance with the misleading and deceptive conduct provisions of the Trade Practices Act (“TPA”), were given to the ACCC on behalf of an entire network of franchised real estate offices across Queensland. The ACCC will use...

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Reading Between The Regulator’s Lines

Posted on May 3, 2007 by | 0 Comments
by Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate watchdog@argonautlegal.com.au When Graeme Samuel, Chairman of the Australian Competition and Consumer Commission addressed a gathering of Real Estate Institute of Victoria members two years ago, his speech soon drew flack. This came not only from Kareena Ballard, then President of the Real Estate Institute of Australia, in a letter published in the Financial Review, but also from consumer advocate Neil Jenman on his website www.Jenman.com.au...

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Roused Regulator Re-Rattles Realtor’s Cage

Posted on May 3, 2007 by | 0 Comments
by Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate watchdog@argonautlegal.com.au Last year in Property Review Australian Competition and Consumer Commission chairman Graeme Samuel argued that, when a complaint was made, the role of the ACCC was not to determine whether the Trade Practices Act had been breached. While the ACCC would make “its assessment of the matter before it”, he explained, the ACCC’s primary role was to “enforce the Act and to educate the...

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Real Estate Commission – A Corrupting Influence

Posted on May 1, 2007 by | 0 Comments
An EzineArticle by Peter Mericka. Real estate commission is the way in which real estate agents are paid for the services they provide. They receive a percentage of the price received for the property. Effectively, the real estate agent requires the seller of a property (the vendor) to sign over to the real estate agent a part of the property being sold. Another way of looking at it is to say that the real estate...

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Cunning Commission Clause

Posted on May 1, 2007 by | 0 Comments
by Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate watchdog@argonautlegal.com.au Buyers default, seller still “liable” to agent.A young home-seller had to change solicitors when a problem arose on his sale. Apart from the same solicitor having acted for both parties, the issue was simple: the buyers could not settle on time. They would be delayed because their bank was refinancing another property as part of its financing of this one. Although finance was approved and...

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The Hypocrisy Of Real Estate Institutes

Posted on April 30, 2007 by | 0 Comments
Few things in real estate are more obviously hypocritical than real estate institutes painting themselves as consumer heroes. In several states, real estate institutes have recently attacked state governments over stamp duty. An article from the Jenman website. The latest to crusade against a state government is the Real Estate Institute of Victoria, with chief executive officer Enzo Raimondo leading the charge. (It’s hard to imagine anyone who cares less about consumers than Raimondo). The...

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Early Release of Deposit

Posted on April 28, 2007 by | 4 Comments
by Peter Mericka B.A., LL.B Real Estate Lawyer and Qualified Practising Conveyancer Victoria Lawyers Real Estate Enzo Raimondo, CEO of the Real Estate Institute of Victoria (R.E.I.V.) regularly provides consumers with his understanding of the law affecting the sale of real estate. Unfortunately, Enzo’s explanation of these laws is often quite limited, and his offering in the Domain section of The Age Saturday 28 April 2007, is a case in point. In his article Enzo...

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