Acting as an agent??

D

Dublander

Registered User
Messages
42
I was working as an auctioneer (in a previous life) but now working in sales. I have been asked to act as an agent for someone looking to purchase some land, legally can I act as an agent and collect commission from the vendor without being a registered auctioneer??

Thanks
 
I thought the vendor paid his/her EA in a sales transaction; would the purchaser not be better advised to have a solicitor look after their interests?
 
ok this property is going through a receiver, he has asked that EAs submit their terms to sell the property. I have someone that is interested in the property (they were interested in another similar property close by through me before), should have phrased it properly at the start. Can I now approach the receiver to act on their behalf as I have an interested party?
 
Are you still a registered Auctioneer (i.e. with the courts?)

You cannot receive a payment from both the purchaser and the seller for the same transaction.

You could act in a personal capacity for the purchaser, i.e. make the offer, deal with the negotiations etc., then if the offer is succesful the purchaser just pays a deposit to a solicitor. You would not be legally authorised to hold a deposit unless you are a properly registered auctioneer.
 
As far as I can remember, the 47 act covers the basic rules of the auct / agent game.

You can act as agent / negotiator providing you dont collect client monies.
 
You must log in or register to reply here.
Back
Top