Are agent fees regulated in QLD?

Are agent fees regulated in QLD?

Let’s get down to business:

Real estate agent commissions were deregulated in Queensland late 2014. The law no longer caps the amount of commission an agent can charge for residential or rural property transactions.

In addition to that:

If the commission is to be based on your home’s selling price, the agent will give you an estimate of their commission based on your home’s listing price. This might change, as the final sale price may be higher or lower than the initial listing price.

Think about it this way:

The deregulated system means you are more likely able to negotiate with agents about their commission.

When you are shopping around for a real estate agent to sell or let your property, you will be able to choose your agent based on the amount of commission each agent charges and the other services they provide.

Sounds good, doesn’t it?

Important to note:

Property agents and resident letting agents must disclose:

• their fees and commissions
• all other charges you would have to pay if you hire them.

Please refer to the Queensland Government website for more information.