Giving Notice to End Exclusive Real Estate Agency Agreement

Ljazzpolice on 04/09/2020 - 03:00
Last edited 04/09/2020 - 11:21 by 1 other user

I entered a sole agency selling agreement with a duration of 120 days.

NSW Fair Trading's fact sheet states that -

If the fixed term is longer than 90 days, you can give the agent 30 days written notice to end the agreement after 90 days

I interpret this to be that any time after 60 days I can serve 30 days notice. My RE agent says no. His take is that I can serve notice only after 90 days. I rang NSW Fair Trading and they agreed with his interpretation. But FT's phone service is just a call centre staffed with people who have no expertise other than the ability to read words (I'm really not being unkind).

If they are right then it should say "after 90 days you can give 30 days notice to end". Does anyone have some experience with this?

Financial

Comments

  • ozhunter on 04/09/2020 - 03:04
    +12

    you can give the agent 30 days written notice to end the agreement after 90 days

    After 90 days you can give the agent 30 days written notice to end the agreement .

  • Hybroid on 04/09/2020 - 03:08
    +3

    you can give the agent 30 days written notice to end the agreement after 90 days

    AFTER 90 days…

  • redslert on 04/09/2020 - 03:09
    +4

    You need to wait 90 days.

  • SmiTTy on 04/09/2020 - 07:10
    +4

    I read it as notice can be given after 90 days

  • kyle on 04/09/2020 - 07:42
    +2

    Can't see anything wrong with the fact sheet? 🤷‍♂️

  • indium on 04/09/2020 - 08:33
    +2

    I also interpret it the way you have.

  • PissLUR on 04/09/2020 - 08:46
    +2

    You are wrong OP

  • fd9 on 04/09/2020 - 09:03

    Is this standard when selling houses? i.e. an exclusive agreement?

    Or is it cheaper or something to enter one of these?

    • Seraphin7 on 04/09/2020 - 10:29

      Standard. Basically they don't want to market the joint on your behalf and then for you to sell it "via another agent" (i.e. directly to the purchaser to avoid commission). It's a standard clause that might appear negotiable (in terms of whether or not it is included … there is room to negotiate on time limits), but in practical terms is not.

      • fd9 on 04/09/2020 - 10:58

        Thanks for the info !

    • dcep on 04/09/2020 - 10:54
      -3

      Not standard

      There is also open listing , which is a norm

      • fd9 on 04/09/2020 - 10:58

        Thanks for the info !

      • Seraphin7 on 04/09/2020 - 10:59

        How many times have you seen this?

        • dcep on 04/09/2020 - 11:09
          -3

          what kind of question is that ?

          you mean how houses i sold ? Just one.

          whatever you're trying to imply, there are plenty of open listings in the market, not just one.

          you can rock up to any agencies and ask for open listing

          ohh, it's not as easy as trying to sell direct after bypassing agent's referral without repercussion

          i see you're in Sydney where almost all sales are Auction , but not in other parts of Australia

          • sweefu on 04/09/2020 - 11:31
            +1

            @dcep: Open listing is definitely not the norm.

            Very few agents would take on a sale without being exclusive.

  • bobbified on 04/09/2020 - 10:07
    +5

    I actually agree with your interpretation, OP. I interpret it to mean that you can give 30 days written notice (within the 90 days) to terminate the agreement after 90 days.

    Edit - I am wrong with my above interpretation..

    A related piece of legislation outlines it a bit more clearer:

    (1) If the agreement is for a fixed term that exceeds 90 days, the agreement must include a term that entitles the principal to terminate the agreement (without penalty) by giving 30 days notice in writing to the agent at any time after the end of the first 90 days of the term.

    (Page 56, Point number 4: Fixed Term Agency Agreements: http://classic.austlii.edu.au/au/legis/nsw/num_reg/psabaa200…)

    • MercSal on 04/09/2020 - 10:44
      +3

      Agreed, Agent and fair trading is right

      found up to date legislation as well which says similar

      https://legislation.nsw.gov.au/view/html/inforce/current/sl-…

      (1) If the agreement is for a fixed term that exceeds 90 days, the agreement must include a term that entitles the person on behalf of whom the agent is acting to terminate the agreement (without penalty) by giving 30 days’ notice in writing to the agent at any time after the end of the first 90 days of the term.

  • MercSal on 04/09/2020 - 10:29

    Can you link the fact sheet?

  • tsunamisurfer on 04/09/2020 - 11:23
    +1

    I interpret this to be that any time after 60 days I can serve 30 days notice.

    I interpret OP needs to go back to Year 5 English Comprehension.

  • Ughhh on 04/09/2020 - 16:41

    I interpret this to be that any time after 60 days I can serve 30 days notice.

    Huh…Where did you get 60 days, when it says

    If the fixed term is longer than 90 days, you can give the agent 30 days written notice to end the agreement after 90 days.

    90 days is not 60 days.

    • Quantumcat on 05/09/2020 - 07:25

      I interpreted it the same way as OP. It is so that the agreement ends at 90 days. 30 + 60 = 90.

      Sounds like that's wrong when looking at other info though.

      • Ughhh on 05/09/2020 - 09:23

        I think the keyword is "after", not "at".

        After 90 days, you can give(the 30 day) notice.

        • Quantumcat on 05/09/2020 - 16:51

          "End the agreement after 90 days"

          The "after" sounds like the agreement ending, not giving notice.

          • Ughhh on 05/09/2020 - 17:30

            @Quantumcat: Yes, 90 days is when the agreement ends, it's also when you can give your 30 days notice.

            https://www.ozbargain.com.au/node/563388#comment-9242820

            • Quantumcat on 05/09/2020 - 18:11

              @Ughhh: Yes I know that. But it isn't how it sounds from the language used in the original post.

              Eg

              Little Johnny's mum gives him half an hour's notice to come inside for dinner after playing.

              Does that sound more like, after little Johnny has finished playing, his mum gives him half an hour's notice to come inside for dinner so that he spends half an hour doing nothing before coming in, or, that while he is still playing, she will give him half an hour's notice that he will have to come inside for dinner and at the end of that half an hour (still playing all that time) he comes inside to have dinner.

              Maybe you disagree, but I think that while both interpretations are congruent with the words and grammar used, the second one seems more likely. This is the same interpretation that leads to what OP thought (which got shown to be wrong on further reading as the post you linked to shows).

  • tina45 on 15/04/2021 - 12:05

    @jazzpolice and others I am in the same position as you mentioned in this post. Did you ever find out if you could give the notice for for termination after 60 days ? Or did you have to wait the full 90 days before giving notice ?

Login or Join to leave a comment
Login Join