Who pays the Real estate Agents Fees in Qld The buyer or the seller?
Under the Property and Motor Dealers Act 2000 (QLD) commission on the sale of a house is paid by the vendor (owner) of the property. This is so the agent marketing the property has a duty to work for the vendor and attempt to achieve the best price available. Under the Act there are Buyers Agents. Buyers Agents negotiate on behalf of the purchaser and are paid by the purchaser. The maximum commission payable in Qld for residential property is 5% of the first $18,000 and 2.5% of the balance. Whilst commission can be negotiated down from here; be very wary of hiring a negotiator who is too keen on discounting their own pay. If they won’t negotiate strongly for themselves, you won’t stand a chance!