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Buyers agents receive key legal recognition in NSW
By Maja Garaca Djurdjevic
28 April 2021
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1 minute read
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Buyers’ agents have been formally recognised in NSW’s Residential Conveyancing Protocol for the role they play in property sales.
Six years after a decision to include the contact details of buyers’ agents on the front page of a contract for sale of land, The Law Society of NSW has formally recognised the role buyers’ agents play in property sales.
By clarifying their involvement in property transactions, the new Residential Conveyancing Protocol recognises buyers’ agents alongside selling agents and solicitors, and includes the following:
NSW stamp duty reforms could boost bottom end: buyers agent
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Cameron Micallef
Cameron Micallef
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The proposal to reform NSW stamp duty could be a shot in the arm for the state’s low-price property market, according to an industry expert.
During the November state budget, NSW Treasurer Dominic Perrottet revealed that stamp duty taxes could be reformed by mid-2021.
Acknowledging stamp duty as “one of the biggest financial barriers to home ownership”, Mr Perrottet said the current stamp duty system is “centuries old and in need of an overhaul”.
Explaining that residents need a modern tax system, Mr Perrottet added during his budget speech that “this is the single most important economic reform we can tackle to turn the Australian dream into NSW’s reality”.