Last updated 21 June 2016
When an owner decides to auction a property, it is placed in the hands of an agent. Once again, by law the owner will be required to sign an appointment in the approved form directing the agent to sell the property by public auction.
If residential property sells at auction, the agent is entitled to commission in accordance with the terms of the auctioneer’s appointment. Similarly, if the property is sold before auction, the agent is also entitled to commission. This is so even if the owner or another agent finds the buyer; as in practice the agency is normally exclusive.