In NSW, what is the maximum commission an agent may charge on a residential property sale?
Correct Answer
C) No cap; the rate is negotiated and disclosed
NSW does not specify a maximum commission rate for residential property sales. Commission rates are negotiable between the agent and vendor, though they must be clearly disclosed in the agency agreement and be reasonable for the services provided.
Why This Is the Correct Answer
NSW does not set a maximum commission for residential sales. The rate is negotiated and must be set out in the written agency agreement, along with any expenses the vendor will pay.
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