| 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. |
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