Need Advice - Paying Binvested Buyer's Agent Fee for Properties That They Did Not Source for You

LRealJustice on 20/03/2019 - 20:09
Last edited 21/03/2019 - 03:02 by 1 other user

I am an previous client with Binvested and very disappointing with them. We signed a Buyer Agency Agreement with them many years back and they hunt us down for any property that we bought from the suburbs that they recommended.

As one of their client, once you are part of their client list, they would bombard you via lots of emails with many many suburbs that they tell you they recommend you, regardless of whether you have the intention to buy in the region prior to receiving their emails or not. As long as you bought any of the property in the suburbs in their list since the first purchase, they will hunt you down and you will be liable to pay for their full buyer agency fee.

Are the clauses in the Buyer Agency Agreement fair or even allowed in the first place? Does anyone here have the same experience?

Any advice would be appreciated.

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Comments

  • spackbace on 20/03/2019 - 20:35
    +4

    https://www.ozbargain.com.au/node/274523?page=1#comment-6272…

    Asked the same thing 6 months ago…

  • [Deactivated] on 20/03/2019 - 21:14
    +3

    Just ignore them.

  • BOGOF on 21/03/2019 - 06:51

    He needs to get his mortgage repayments from somewhere
    https://www.afr.com/real-estate/residential/nathan-birch-sue…

  • djkelly69 on 21/03/2019 - 10:08

    Depends on what the clauses say in the contract you signed, and what state you are in. A little hard for the rest of us to know either of these things.

    • [Deactivated] on 21/03/2019 - 14:43

      I'm not sure if any legal contract that forces the client to pay a private institution is going to be legally enforceable.

      Nathan Birch nor any other hardwoods own the intellectual property of buying property in any suburb.

    • RealJustice on 21/03/2019 - 18:15

      The clause states the agent is entitled to payment of the fee for property that client purchases "within the suburb for the period of at least 9 months". There are also plenty of typos and grammar errors within the agreement.

      Is the clause fair or even allowed in the first place?

  • Baysew on 21/03/2019 - 14:48

    On a side note, how and why did you get mixed up with this lot anyway?

    • RealJustice on 21/03/2019 - 18:17

      We are always in the market lookout for properties in these suburbs even before we engaged them. It is just coincidence that the property were purchased after we engaged them

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