What the pages say
State by state
| State | On a buyer’s agency agreement | What the state does say |
|---|---|---|
| NSW | NSW Fair Trading’s page on using a buyer’s agent does not describe a cooling-off period. | Agreements for the sale of residential property or rural land carry a cooling-off period of one day that is a business day or a Saturday. |
| VIC | Consumer Affairs Victoria’s page on buyer’s agents does not describe one. | For sellers: “You do not have a cooling-off period (time to change your mind) after signing a sales authority.” |
| QLD | Queensland’s page on appointing a buyer’s agent does not describe one. | 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). |
| WA | WA Consumer Protection’s fact sheet does not describe one. | The terms are not set by law, and you can negotiate them, including the fees, before you sign. |
“Does not describe” is exactly what it says. A page’s silence is not a ruling that no right exists, which is why this page points you to the regulator rather than answering for it.
NSW’s rule, for agreements to sell
How the NSW cooling-off works
NSW’s cooling-off rule for agency agreements is written for the sale of residential property or rural land, which is the seller’s side. It is set out here because it shows what a statutory cooling-off on an agency agreement looks like, and what a buyer’s agreement in NSW does not get from the pages read for this guide.
- When it runs: from when the agreement is signed by or for each client, until 5pm on the first business day or Saturday after the day of signing. Public holidays, bank holidays and Sundays are not included.
- How to use it: a written notice of rescission, signed by the client or their solicitor (each client, if there is more than one), given to the agent personally, left at their place of business or another address in the agreement, or emailed or faxed.
- What it costs: nothing. Neither side is liable for commission, damages, costs or expenses, and any money already paid to the agent must be refunded in full.
- Changing it: the period can be extended by agreement, by a term in the agreement or by the agent’s signed statement, and it can be waived only on conditions that include signing NSW Fair Trading’s approved waiver form.
A different document
Not the same as cooling-off on the contract of sale
The agency agreement appoints the agent. The contract of sale buys the property. They are separate documents. The cooling-off periods most buyers have heard of belong to the contract: in NSW, for example, a buyer of residential property has a 5 business day cooling-off period after exchange, or 10 business days for a property bought off the plan, but none for a property bought at auction or on the day of the auction after it is passed in, and a buyer who withdraws in the 5 days pays the vendor 0.25% of the purchase price. The rules for contracts are on each state’s own pages, such as NSW Fair Trading’s contracts and deposits page and Queensland’s cooling-off page.
What the states offer instead
Time before you sign, and a way out after
With no cooling-off described for buyers, the states put their weight on the moment before you sign:
- NSW: do not sign before you understand what it means for you on costs and on what the agent is committing to do.
- Victoria: read the authority carefully before you sign it, and consider legal advice if anything is unclear.
- Queensland: if you are unclear about any part of the form, or the fees, do not sign it.
- WA: the terms are negotiable before you sign, and you can ask whether the agreement is exclusive to the agent for a set period.
After signing, look first to the agreement’s own ending terms. In Queensland, the Office of Fair Trading’s page also describes a 30-day notice rule, though Part 5 of your form may say otherwise for a fixed-term appointment. If the service itself falls short, WA Consumer Protection says the Australian Consumer Law may entitle you to a refund or compensation, or to cancel the contract. All of this is on ending an agreement.