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What should I do: Use an Extension or do a Subsequent Agency?

The following issues apply only to Residential Sales Agencies

Essentially better practice is to use a Subsequent Agency and not use the complex Extension rules under the Act.

A Subsequent Agency should be done prior to the Agency expiring and not used when an Auction Agency is in place.

The Act states only 1 extension is allowed so if done afterwards it would be a new Agency Agreement that is used.  To tie back in before the Agency lapses use the Subsequent Agency form in the Society of Auctioneers form (reaforms.com.au)

For more details click here to download this pdf.

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