New laws have been passed in Queensland. The main changes include:
- Removing the use of price guides at auction
- Removing the requirement for agents to disclose commission arrangements with a buyer
- Extending the statutory limit on lengths of appointments for a sole or exclusive agency from 60 days to 90 days
- Deregulating the maximum commissions rates to allow contractual freedom
- Abolishment of a separate Warning Statement. Instead this will be included in the relevant contract
- Stricter disclosure of third-party benefits to buyers
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