Appointing a real estate buyer's agent
You might want to use a real estate agent to help you buy a property. Real estate agents often represent sellers, but you can also appoint one as a buyer's agent.
A buyer's agent can:
- find suitable properties for you
- negotiate with the seller on your behalf
- do background checks on the property and area and explain the local property market
- bid for you at an auction.
Real estate agents must have a licence to work in Queensland. You can search the register to check if your real estate agent has a licence.
How to appoint a buyer's agent
To appoint a buyer's agent, complete 1 of these forms:
- Residential agent appointment or reappointment (form 6)
- Commercial agent appointment or reappointment (form 6A).
The real estate agent should be able to give you a copy.
This form sets out:
- the services the buyer's agent will provide and any limits or conditions on them
- all commissions, fees and expenses for their services
- the due date for paying their commission, fees and expenses.
Seek independent legal advice if you're unclear about any part of the form or the fees you'll be charged.
Cancelling an appointment
Either party—you or your agent—can cancel an appointment at any time by notifying the other party in writing.
You must give them a minimum 30 days' notice—or less than 30 days if both parties agree.
If you enter into a new agreement with a new agent before your current appointment ends, you may be liable to pay either:
- commission under both appointments
- damages for breach of contract.
You should seek independent legal advice to make sure you end the appointment properly.
Resolving problems or disputes
If you have a dispute with your buyer's agent follow these 3 steps:
- Talk to the agent—Put your complaint in writing directly to the buyer's agent. Explain the problem and what you want them to do to fix it. If they accept your complaint and fix the problem you don't have to take the matter any further.
- Talk to the industry body—If your buyer's agent rejects your complaint you can still take it further. Contact the Real Estate Institute of Queensland (REIQ) for advice (if the agent is a member). If this fixes the problem you don't have to take it any further.
- Make a formal complaint—If you still have no success, make a formal complaint with the Office of Fair Trading. You might also be able to claim compensation if you've suffered a financial loss.