Your relationship with your real estate agent in a rising market

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Property values are rising strongly, and fewer owners are selling. You would think it is a great time to be a real estate agent, right?

Yes and no. In the current market, owners are sitting tight and there isn’t much stock. The biggest battle many agents face is to secure your listing to sell.

Once listed, properties are usually selling easily, often for more than the seller expected.

In a flat market, it is the other way around: plenty of listings, not as many buyers.

When appointing a real estate agent, the appointment contract is the most crucial element. Once the contract is signed, it is too late to make any changes unless the agent agrees.

Accordingly, you need to carefully consider commission amounts, marketing expenses, and the length of the appointment before signing on the dotted line.  

From a buyer’s point of view, when dealing with the seller’s agent, ensure that you are clear on the terms of the draft sale contract, so that you do not miss things such as paying the deposit on time. In a hot market, sellers have been known to get a better offer later, and to try to get out of an existing contract.

Agents are usually keen to help the buyer to get the contract set up and signed, and the deposit paid. However, it is important to have a fresh set of eyes looking at the contract and advising you to have received legal advice. 

FC Lawyers have looked after thousands of buyers and sellers over the past 26 years and can help sellers and buyers with quick and expert contract advice, followed with experienced conveyancing service. We foster a respectful relationship with real estate agents, while protecting our clients’ interests.

Contact our team today to discuss your legal needs regarding contract reviews, conveyancing or any property legal matters.

The information provided in this article is for general information and educative purposes in summary form on legal topics which is current at the time it is published. The content does not constitute legal advice or recommendations and should not be relied upon as such. Whilst every care has been taken in the preparation of this article, FC Lawyers cannot accept responsibility for any errors, including those caused by negligence, in the material. We make no representations, statements or warranties about the accuracy or completeness of the information and you should not rely on it. You are advised to make your own independent inquiries regarding the accuracy of any information provided on this website. FC Lawyers does not guarantee, and accepts no legal responsibility whatsoever arising from or in connection to the accuracy, reliability, currency, correctness or completeness of any material contained in this article. Links to third party websites or articles does not constitute any endorsement or approval of those sites or the owners of those sites. Nothing in this article should be construed as granting any licence or right for you to use that content. You should consult the third party’s terms and conditions of use in relation to any third-party content. FC Lawyers disclaims all responsibility and all liability (including liability for negligence) for all expenses, losses, damages and costs you might incur as a result of the information being inaccurate or incomplete in any way. Appropriate legal advice should always be obtained in actual situations.


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