When is the agreed fee paid to the agent?

Oct 10, 2022, 15:38 PM
Title : When is the agreed fee paid to the agent?

The agreed fee is paid;

  • Where the service is the sale of a property or a business, then the agent's selling fee is paid at settlement.
  • Where settlement is defined as the legal entitlement to the property passing from the owner to the buyer, or upon the buyer taking possession of the property.
  • Where the service relates to the management of property, the agreed fees are normally paid monthly.
  • If it is an off-the-plan sale, then the developer and agent may agree to payment prior to settlement. 
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