The ‘Selected Commission Rate’ is between 2.5% and 3.9% of the first $490,000 of the sale price, plus 1.95% of the balance of the sale price, plus a base fee of $490 plus GST.
The ‘Default Commission Rate’ is 2.95% of the first $490,000 of the sale price, plus 1.95% of the balance of the sale price, plus a base fee of $490 plus GST.
The ‘Variable Commission Scale Form’ is the electronic link which is emailed to the client to choose their Selected Commission Rate.
The client’s Selected Commission Rate must be submitted via an online link to the Variable Commission Scale Form within 3 working days of the property going unconditional or the Default Commission Rate will apply.
The Variable Commission Scale Form will automatically be emailed to the email address recorded in the Agency Agreement upon the property going unconditional and written notification received from the vendor and purchaser’s Solicitors.
Once the Selected Commission Rate has been submitted by using the Variable Commission Scale Form, the calculated commission amount payable to the agent cannot be changed.
All clients named in the signed Agency Agreement must agree to the Selected Commission Rate before the Variable Commission Scale Form is submitted to the agent.
The client’s Selected Commission Rate is payable on the first $490,000 of the sale price and the rate of 1.95% will apply on the balance of the sale price. The base fee of $490 plus GST will apply.