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What is the difference between a licensed and non-licensed agency? And what are the implications for me when purchasing a property?

April 26, 2017agency difference implications licensed non-licensed Property purchasing

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What is the difference between a licensed and non-licensed agency? And what are the implications for me when purchasing a property?

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A licensed agency pays tax to the government and works according to government guidelines. They charge 3% commission and are required to display their tax number certificate. A non-licensed agency would not operate from an estate agency office, but from their own place of work such as bars, restaurants or hotels. They can charge any commission they choose and often also ‘load’ the asking price.