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Real Estate Agents Act 2008

Duties relating to real estate agency work - Agency agreements

131: Parties may cancel sole agency agreements in respect of residential property 90 days after agreement is signed

You could also call this:

"You can cancel a house sale agreement 90 days after signing it."

Illustration for Real Estate Agents Act 2008

You can cancel a sole agency agreement for a residential property 90 days after signing it. You must give written notice to the other party to cancel the agreement. This notice can be sent by fax or email. You can think of a residential property as a house or a home, but it does not include some types of properties. If you renew your sole agency agreement, it is like signing a new one. This means you can cancel it 90 days after signing the new agreement. If you want to cancel your agreement, you can do so even if it says something different in your contract. You just need to make sure you follow the rules and give the right notice to the other party.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1152124.

Topics:
Housing and property > Buying and selling homes
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130: Client may cancel sole agency agreement by 5 pm next working day, or

"You can cancel a sole agency agreement within one working day"

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132: Licensee to give copy of contractual document, or

"Real estate agents must give you a copy of the document you sign"

Part 5Duties relating to real estate agency work
Agency agreements

131Parties may cancel sole agency agreements in respect of residential property 90 days after agreement is signed

  1. Any party to a sole agency agreement that relates to residential property and is for a term longer than 90 days may, at any time after the expiry of the period of 90 days after the agreement is signed, cancel the agreement by written notice to the other party or parties.

  2. If the parties to a sole agency agreement to which subsection (1) relates agree in writing to renew the sole agency agreement, the signing of the renewal agreement is, for the purposes of that subsection, taken to be the signing of a new sole agency agreement.

  3. For the purposes of subsection (1), a sole agency agreement is signed when it is signed by or on behalf of the client or, if there is more than 1 client, when the agreement is signed by the last client.

  4. A notice under subsection (1) may be served by fax or email.

  5. This section has effect despite any provision to the contrary in any agreement.

  6. In this section, residential property does not include any property that—

  7. has been developed with other properties in a continuous area; and
    1. is proposed to be sold or otherwise disposed of by a vendor who also proposes to sell or otherwise dispose of, or who has sold or otherwise disposed of, some or all of those other properties.