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Is the amount of commission charged by real estate agents regulated in any way?

April 26, 2017agents charged Commission Real Estate regulated

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Is the amount of commission charged by real estate agents regulated in any way?

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There is a limit on the amount of commission chargeable by real estate agents, which is governed by Queensland law and enforced by the Real Estate Institute of Queensland. The maximum allowable to be charged is; 5% of the first $18,000 and 2.5% of the balance (calculated on the sale or purchase price of the property).