Selecting an agent is without a doubt the most important decision you have to make when selling your property. Legally, an agent cannot represent your property unless you have provided them with a written authority – specifically an ‘appointment of Real estate agent’ form – or more technically a Form 22a.

You can appoint an agent in one of three capacities:

1. Open listing. You can offer this type of listing to as many agents as you want at the same time. You can cancel this type of agreement at any time (in writing).

2. Sole Agency. This is where you appoint one agent to sell your property for a period of up to 60 days (You can negotiate a lesser term than this). He or she is entitled to the commission upon sale – unless you sell the property yourself.

3. Exclusive agency agreement. This is where you appoint one agent to exclusively represent your property for a period of up to 60 days (You can negotiate a lesser term that this). He or she is entitled to the commission upon sale without exception.

Usually by default, a Sole agency agreement or Exclusive agency agreement converts to an Open listing upon expiry. If you would like to review a full copy of the Form 22a contact me on 0418 885 708 or 07 3510 5288 for a free copy.