Authority for estate agent

This document to be utilised by estate agents or anyone selling a product/property to maximise the return and improve their position.

Sample

"1.1 ?Services? means the provision of personal consultations with the Vendor, marketing expertise, sales literature and materials, advertising and promotion, open for inspections, for sale and auction boards, listing and description in the media including internet, showings to prospective buyers, attendance at auction and assistance in negotiating offers by the Agent for and on behalf of the Vendor for the Sale of the Vendor?s property.

2 THE AGENT:

2.1 Will, subject to Clause 3.4 herein, pay the maximum amount of Marketing Expenses in relation to the Property.

2.2 Is irrevocably authorised to deduct from any deposit monies received all Marketing Expenses properly incurred by the Agent if either of the conditions in Clause 3.4 herein are satisfied, including and any State or Federal Taxes required to be deducted by law including GST. This authorisation may only be modified with the written consent of the Agent.

2.3 Will provide the Vendor with an itemised list of the Marketing Expenses and State or Federal Taxes expended or payable at any time that may be reasonably required by the Vendor.

3 THE VENDOR:

3.1 Accepts this Agreement at the same time that it engages the Agent.

3.2 Acknowledges having received a copy of both the REIV Exclusive Sale Authority and the ?a2? Terms and Conditions of Trade for Services prior to signing the REIV Sale Authority.

3.3 Must pay to the Agent the Agent?s Commission when a Binding Offer is made by a person Introduced to the Property by the Agent.

3.4 Must reimburse the Agent for all Marketing Expenses incurred in relation to the Property:

3.4.1 When the Agent Introduces to the Property a person who makes an offer to purchase the Property for an amount that is equal to the Agent?s Estimate of Selling Price or where there is a price range specified the offer to purchase is an amount of not less than 95% of the upper amount; or

3.4.2 If the Property is taken off the market during the Authority Period for any reason whatsoever and the Property is sold to a person Introduced to the Property by the Agent."