New South Wales Consolidated Regulations New South Wales Consolidated Regulations
(1) If the agency agreement is an exclusive agency agreement the agreement must include the following statement--IMPORTANT--This is an exclusive agency agreement. This means you may have to pay the agent commission even if--(a) you or another agent sells the property, or(b) another agent introduces a buyer who later buys the property.
(2) If the agency agreement is a sole agency agreement the agreement must include the following statement--IMPORTANT--This is a sole agency agreement. This means you may have to pay the agent commission even if--(a) another agent sells the property, or(b) another agent introduces a buyer who later buys the property.
(3) An agency agreement is an
"exclusive agency agreement" if the agreement provides for the agent to be entitled to commission on the happening of an event--(a) whether or not the agent is the effective cause of the happening of the event, and(b) whether or not the client is the effective cause of the happening of the event.
(4) An agency agreement is a
"sole agency agreement" if the agreement provides for the agent to be entitled to commission on the happening of an event, whether or not the agent is the effective cause of the happening of the event, unless the client is the effective cause of the happening of the event.
(5) A statement required by this section to be included in an agency agreement--(a) must be included in the agreement immediately following the term required by Schedule 5, section 9, and(b) must be no less prominent than the term.
(1) The agency agreement must include the following statement--WARNING--Have you signed an agency agreement for the sale of this property with another agent? If you have, and if either this agreement or the other agreement you have signed is a sole agency agreement or an exclusive agency agreement, you may have to pay 2 commissions.
(2) A statement required by this section to be included in an agency agreement--(a) must be included in the agreement--(i) immediately following the term required by Schedule 5, section 9, or(ii) immediately following the statement required by this Schedule, section 1, and(b) must be no less prominent than the term or statement.
(1) If the agency agreement includes a term that a commission is payable even if the sale of the property is not completed, the agency agreement must include the following statement--WARNING--The term immediately above provides that a commission is payable under this agreement even if the sale of the property is not completed.
(2) The statement--(a) must be included in the agreement immediately following the term, and(b) must be no less prominent than the term.
(1) If the agency agreement is for a fixed term of more than 90 days, the agreement must include a term that entitles the person on behalf of whom the agent is acting to terminate the agreement, without penalty, by giving 30 days' written notice to the agent at any time after the end of the first 90 days of the term.
(2) This section does not apply to an agency agreement on the sale of residential property if the contract for sale provides for the construction by the seller of a dwelling on the land.
If the agency agreement provides for residential property to be offered for sale by private treaty, the agreement must specify the price at which the property is to be offered.
The agency agreement must include a provision that states--
(a) whether or not the agent provided the person on behalf of whom the agent is acting with a copy of the approved guide mentioned in the Act, section 56 before the agreement was entered into, and
(b) if the guide was provided--the date it was provided.
(1) The agency agreement must include the following statement--COOLING-OFF PERIOD--You (the vendor) have a cooling-off period for this agreement. If you do not wish to continue with this agreement, you can cancel it until 5pm on--(a) the next business day, or(b) for an agreement signed on a Friday--the Saturday immediately after.
(2) A statement required by this section to be included in an agency agreement--(a) must be included in the agreement close to the place where the person on behalf of whom the agent is acting signs the agreement, and(b) must be no less prominent than the other terms of the agreement.
The agency agreement must include a copy of the sales inspection report prepared and given by the agent, under Schedule 2, section 3, to the person on behalf of whom the agent is acting.