Dealing with Agents -

Published: 30 August 2006.

In all probability you will buy your management rights through a real estate agent. Probably one that specialises in management rights, and there aren't many of these.

Real estate agents must hold a licence and their business is regulated in Queensland for your protection.

The better agents are also members of the Real Estate Institute of Queensland (REIQ) which enjoys a good reputation and has a code of ethics which members must follow.

Look for the REIQ endorsement it's a sign you are dealing with an agent who has chosen to belong to the main industry body.

Remember, an agent's job is to get the best possible price for the management rights. The commission payable to the agent will usually be a percentage of the sale price. The higher the price paid, the higher the commission to the agent.

Although agents have a responsibility to be fair to both the buyer and the seller, agents act for the seller, not the buyer. The seller pays the agent's commission.