REIWA pushing to speed up off the plan sales commissions

REIWA is seeking to speed up commission payments paid to Western Australian real estate agents selling off the plan properties.

REIWA recently announced that they are lobbying the government to allow agents selling this stock to receive their commissions closer to the point of contract, rather than after the settlement period – which they note is lengthy.

“The commission process for dealing with pre-sales in the multi-residential market is often frustrating,” they noted in a recent email to members.

“Having to wait for months to be properly remunerated for your work is inconvenient and can hamper your business.”

They noted that in Perth, and some regional areas, they’re going through a strong growth period with units and apartments and said that it is “high time the government reviewed this commission anomaly and updated it to reflect contemporary conditions”.

Property Observer understands that there are no specifics around how this would work as of yet and the process is still in the exploratory stage. However, REIWA are planning to meet with the Minister soon.