Cooling off periods

Hi there. Thought I would share a little known secret that applies to all real estate agents that you may not know about.


What is the cooling of period for real estate agency authorities?


If you engage / solicit an agent to come to your home , ie you call them and then you enter into an agreement then it is 24 hours from the time you receive a copy of that agreement.


If the agent solicits you by calling or knocking on your door and then you enter into an agency agreement then the cooling of period is 5 days from the time you receive a copy of the agreement.


Why is it different? Because all agents are covered by the provisions of the Door to Door Sales Act.


If you are at all unsure about any agreements please discuss with your solicitor or check out the REAA website for more information.