Government to remove cap on commissions
The Queensland government announced on 15 June 2011 that they plan to deregulate real estate commissions in Queensland. No date has been given to when this might occur.
The benefit to agents will be they can charge higher commissions for properties that require more work to sell than the standard house. It should be noted that this has been the case in other states for some time. Also the removal of the cap has not seen commissions increase.
At this stage the government is simply calling for submissions. The government has also indicated that QCAT (the consumer tribunal) would have power to overturn unfair agreements.
$10 000 grant for new homes
First home owners
In relation to the changes they will affect contracts signed after 31 July 2011.