Itemised: the six pages
Fee note no. 01- 01p. 01
How buyer’s agents are paid
A fixed fee or a percentage of the purchase price, in NSW and Victoria; in WA, perhaps an engagement fee, a success fee and fees for particular services.
- 02p. 02
The agency agreement
In writing in every state covered here. Queensland uses a government form, Form 6, for residential appointments.
- 03p. 03
Rebates and commissions
In NSW a buyer’s agent can’t be paid anything for referring you to a selling agent.
- 04p. 04
Cooling-off on the agreement
NSW’s one-day cooling-off on agency agreements is written for agreements to sell residential property or rural land.
- 05p. 05
Ending an agreement
In Queensland, Form 6 lets a continuing appointment be ended by written notice of 30 days, or less if both agree; a fixed-term appointment may be ended earlier by mutual agreement (check Part 5 of your form).
- 06p. 06
Complaints about an agent
Start with the agent, then your state’s regulator. Tasmania’s Board cannot order an agent to pay compensation.
Why the total is blank
The figure belongs to your agreement
The state pages read for this guide describe how a fee can be built, not what it should be. NSW Fair Trading says buyer’s agents may charge a fixed fee or a percentage of the purchase price, and that you can negotiate it because it is not set by law. Victoria says the same of commissions and fees. Victoria also requires a percentage in an agency authority to come with an example of the dollar amount it represents. A guide that printed a typical number would be guessing at someone else’s agreement. This one shows you where your number lives, and what has to sit beside it.
Four states, one paper trail
State by state
| State | The agreement | The fee | Rebates | Ending it |
|---|---|---|---|---|
| NSW | A written buyers’ agency agreement; no commission or expenses without one. | Fixed fee or percentage; negotiable, not set by law. | Source and estimated amount of rebates on expenses you pay, stated in the agreement, for residential property or rural land. | Ask how you can end it if you are not happy. |
| VIC | A buyers’ agency authority, with statements in approved wording. | Fixed fee or percentage; a percentage needs a dollar example. | A rebate statement in every authority; a rebate must be paid to the client. | Ask whether you can terminate, and whether you will be charged. |
| QLD | Form 6 (residential) or Form 6A (commercial). | Commission including GST, as a percentage or a dollar amount; negotiable. | Source and estimated amount, in Part 8 of the form. | Continuing appointment: 30 days’ written notice, or less if both agree. Fixed term: may be ended earlier by mutual agreement (Part 5 of Form 6). |
| WA | A written contract, often called a Written Authority; terms not set by law. | A single price including GST; may combine engagement, success and service fees. | Ask whether the agent receives benefits for referring you on. | Some fees can be payable even after you end it. |
A selection from each state’s pages; the full detail, with every source, is in the six pages above.
What this guide covers
The money and the paper, nothing else
This guide keeps to the fee and the agreement. Who a buyer’s agent acts for, how they are licensed and how to read a contract of sale are covered by the state bodies linked above, such as NSW Fair Trading’s page on using a buyer’s agent and Consumer Affairs Victoria’s advice on buyer’s agents.