A Selling Agency Agreement is a written agreement whereby the agent is authorised by the seller/owner to find a buyer for a particular property. The agent is required by law to have written authority.
REIWA produces standard Selling Agency Agreements for use by its members. These agreements are worded to equally protect the rights and obligations of the seller/owner and the agent.
The Selling Agency Agreement will detail the name of the seller/owner, the property details, the agreed fee for the agent finding a buyer, terms and conditions detailing the rights and obligations of seller and agent, and any agreement relating to the seller contributing towards the costs of marketing the property.
REIWA's standard exclusive agency agreements have received authorisation from the Australian Competition and Consumer Commission (ACCC).