So you have decided to sell your property. Before a Real Estate Agent can work on your behalf there is some important paperwork which needs to be completed first. You are required by law to sign a PAMD Form 22a – Appointment of Real Estate Agent. This form is essentially a contract between you the seller and the real estate agent giving them permission to act on your behalf in the sale of your property. The form has 10 sections which are briefly explained below.
1. Client Details – Your contact details as the seller.
2. Agent Details – The real estate agent’s contact and licence details.
3. Property Details – The address of the property being listed as well as its Lot number and Real Property Description.
4. Appointment of Agent – This section outlines whether the property will be sold by Auction or Private Treaty. It also displays the listing price of the property for sale.
5. Open Listing, Sole Agency or Exclusive Agency – Outlines the terms & duration of the agency period that the real estate agent has to sell your property.
6. Assignment Clause – This is where you as the seller can agree or disagree as to whether the agent may, at any stage throughout the appointment, assign the appointment to another real estate agent without changing the terms of the appointment.
7. Commission – This is where the agreed commission payable is outlined. It is expressed both in a percentage amount and a dollar amount.
8. Fees & Charges – Outlines any extra fees or charges you may incur, if any.
9. Expenses – Is where you the seller agree to an authorised amount for the marketing and advertising of your property.
10. Signatures – Where both you the seller and the agent sign
If you may have any further questions, or would like to speak to one of our agents, feel free to contact us
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