The Property Agents and Motor Dealers Act (PAMD Act) sets out the time restrictions on listing residential property in Queensland, and also allows for further reappointments if necessary.
Section 136 of the PAMD Act states that a sole or exclusive agency for the sale of residential property cannot be more than 60 days. What should be clearly understood is that the maximum timeframe for the listing is 60 days. Meaning, for example, a seller client may appoint an agent for 30 days, instead of up to the maximum of 60 days.
Section 136 goes on to allow for reappointments for a further sole or exclusive agency if the property doesn’t sell within the listing timeframe. The Act states that an agent commits an offence if the agent is reappointed for the sale earlier than 14 days before the term of the sole or exclusive agency ends.
If there are no changes to the existing appointment then a PAMD Form 23 – Reappointment of real estate agent should be used. If the terms of the appointment vary in any way from the original appointment, then a new PAMD Form 22a should be entered into.
If an agent had an exclusive listing that was for 55 days, and expires on 24 July 2012, if all parties agree to extend the exclusive listing beyond the expiry date of 24 July, then the agent can be reappointed for further terms as long as:
- The approved government form for reappointment is used (PAMD Form 23) or a new PAMD Form 22a is completed with the seller; and
- The reappointment occurs within 14 days before the term of the exclusive agency ends; and
- The client has been given a copy of the approved form (either the PAMD Form 23 or 22a)
There is no limitation as to how many reappointments can be made, as long as the maximum timeframe of each appointment does not exceed 60 days.
By Brad Kerrisk, Member Liaison Manager, REIQ