Can you appoint an estate agent to source for your property?
Estate Agency Practice means “holding on to public for selling, purchasing, letting and renting a property”; more detailed definition is given in S.22B(1A) of VAEP Act 1981 (amended 2017). So, a buyer or tenant can appoint an estate agent to source for a property for specific terms and budget.
However, in normal condition there is less of this kind of appointment. More often it is a seller or landlord appointing an agent for selling and letting his property. What happens if you have two agents representing seller and purchaser respectively?
Each should pay their fees respectively. The agents should protect the interests of individual principal who appointed him. It is like the lawyers. Purchaser lawyer safeguards the interest of the purchaser while the Vendor lawyer protects the interest of the seller.
Can an agent represent the purchaser at the same time appointed by the owner/vendor?