The “One-Stop-Shop” action plan
A templated letter you can send to help protect yourself.
For the full and linked articles see our Substack
https://forgetthebanks.substack.com/p/the-one-stop-shop-action-plan
If you have already signed up, below is a templated letter you can send to your adviser group to help protect yourself.
Subject: Conflict of Interest and Commission Disclosure – [Property Address or Service Agreement]
Dear [Name],
Before proceeding further, please confirm the following in writing as part of my due diligence:
Are you, your company, or any related entity receiving, or entitled to receive, any payment, commission, rebate, referral fee, marketing fee, or other benefit from:
The seller, vendor, or developer of this property;
Any selling agent or project marketing group;
Any related company, trust, or associate connected to the sale?
If yes, please specify:
The payer’s name;
The amount or percentage payable; and
The circumstances under which it is paid.
Please confirm that you act solely for me, the buyer, and that your fiduciary duties are to represent my interests exclusively.
Please provide your real estate license number, issuing state, and trading name (if applicable).
Please provide a copy of your Buyer’s Agency Agreement, including all commission or fee clauses for all parties benefiting from this transaction, before we proceed.
This confirmation is required under Australian Consumer Law (Schedule 2 to the Competition and Consumer Act 2010) and relevant state property legislation to ensure full transparency and prevent conflicts of interest.
Kind regards,
[Your full name]
[Your contact details]