Often in conveyancing we see the blurred lines being tiptoed by real estate agents.
The purpose of engaging a real estate agent is to assist sellers in selling their properties in accordance with the market and the sellers’ goals. Thus, when dealing with potential buyers they are to advocate for sellers’ interests when negotiating.
In some circumstances we have received dated contracts (where we act for the seller), where there are special conditions which are very vague or onerous on the sellers. It often results in a conversation where the seller explains that the real estate agent had promised the buyer something and that’s why the special condition exists.
There are also often crucial errors or omissions in the contract, which can lead to substantial problems for the seller.
It is in this circumstance that we raise the issue of who does the real estate agent work for? Who is paying their commission? This is a conflict that is clear in the legal profession, yet not clear in the real estate agent profession.
Sometimes sellers feel as though they are backed into a corner with the real estate agent’s promises, encouragement or advice. We at Robbins Watson recommend all parties whether selling or buying have a solicitor review the contract to ensure your interests and goals are legally provided for in the contract prior to signing.
If you are looking at selling or buying, please contact our office on 07 55769999 if you would like the contract reviewed prior to signing.
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