Determination by the Estate Agents Authority
|
| 1. |
A dispute over agency commission between an estate agent and his client may be referred to the Estate Agents Authority for a binding decision. Estate Agents and their clients may therefore choose a faster avenue than the court to resolve their disputes. For more details please refer to the Estate Agents (Determination of Commission Disputes) Regulation.
|
| 2. |
A dispute may be referred to the Authority for determination if:
| a. |
the dispute is between a licensed estate agent and his client
|
| b. |
the dispute is in respect of the amount of commission or fee payable, or over the calculation or manner of payment
|
| c. |
the parties give their consent, and
|
| d. |
when the EAO has prescribed an estate agency agreement, such an agreement has been executed
|
|
| 3. |
The amount of the commission or other fee in dispute shall not exceed $300,000.
|
| 4. |
To simplify the determination procedure and to reduce costs, no party is allowed to have legal representation at the hearing.
|
| 5. |
A determination by the Authority when registered at the District Court becomes a judgment of the court and can be enforced as such.
|