The decision of the Reserve Bank to reduce interest rates by .25% is great news for the local Gold Coast property market and the economy generally.
In the lead up to the Christmas break and at a time when property sales are usually at their highest, the reduction in rates will be a further incentive for those buyers sitting on the fence waiting to take advantage of some fantastic opportunities that are out there in the property market. No doubt there are also business proprietors who are waiting for some further signs of optimism before employing more staff or investing in the growth of their business.
Local real estate agents have commented on the recent increase in property transactions and number of sales in the Gold Coast and northern New South Wales area. Attwood Marshall has also noticed an increase in the new files opened for conveyancing matters and there seems to be good signs of buying activity in recent weeks.
It is probably a good time for real estate agents to check that their paperwork with their clients is up to scratch. There are many cases where Form 21a’s and Listing Agreements have not been completed properly and this endangers the agent’s entitlement to commission. Please go to our previous articles concerning problems with agents and recovery of commission on these links:
- Is your Commission safe, or are you missing something?
- Importance of REIQ Annexure to PAMD Form 22a – Your Right to Commission depends on it!
For any information contact our Property & Commercial Department Manager, Christine Martin, Attwood Marshall Lawyers on 5536 9777 or email firstname.lastname@example.org.