Many properties, residential and rural, are sold using the services of licensed real estate agents. Agents are usually engaged by the seller of a property, the Vendor, and with the use of advertising and personal contacts endeavour to attract buyers to the property. In most cases they prepare an offer to buy the property for the purchaser and forward it to their client vendor.
It’s important that both vendors and purchasers get legal advice BEFORE putting their signature on an offer or acceptance on an agreement for sale and purchase. Why? Because the real estate agent is not a lawyer and the complexities of a contract, once signed, can bind you to a deal that may not suit your purposes. Property Law Service will check any contract before you sign as part of our service and in most cases will not charge you for any work that is undertaken if the deal falls through. Real estate agents can also advise you on the best methods of sale and will assist in informal negotiations between buyer and seller. Remember, however to consult your lawyer before signing an agreement and to keep in touch with them after the contract has been signed and the deal is binding. It is your lawyer who should confirm that conditions on a contract are satisfied or not, not the real estate agent. The rates charged by real estate agents can vary. You may like to shop around or negotiate the best deal from the agent you speak to.