When is a real estate agent allowed to advertised a property as sold

As in the title when is a real estate agent able to advertise a property as being sold
So change the status from under contract - sold on rea.com.au

Sold property
Went unconditional
Then buyers terminated contract

Issue is the REA has gone ahead and put the property as sold and listed the sale price which i believe will hinder the sale moving forward

Is the REA allowed to do this? I gave no conscent.

 

It ain’t over till it’s over.

As far as I am concerned, it’s not sold till settlement is completed and the money is in my bank! Up until that time it is only “under contract”.

I would ask the agent to alter the wording to “under contract”. Probably doesn’t matter too much as, if this deal falls over, the agent will tell any future buyer what the previous contract price was.
Marg

 

When the contract goes unconditional, then the agent has done their job ie introduced a buyer, achieved a price satisfactory to the vendor, elicited signature from both parties (ie exchanged) and waited out the cooling off period ie not subject to other impediments to other conditions (eg finance, B&P).

If it has gone unconditional, then the agent is entitled to their commission.

When was the contract terminated?
On what grounds? (death, incapacity, destruction, war/civil unrest)
What has your solicitor said regarding the termination of the contract?

 

was terminated as bank wasnt able to produce title on the day, produced 4 days later but buyer requested to terminate contract

 

Ouch! That a bad one. Will you be able to get the same price again?

 

What state?

AFAIK, title can be replaced if the bank had lost/misplaced it - requires a stat dec.

Are you holding the bank liable for the agent's commission and any other losses?

 

Sorry, misworded that
The bank was unable to process the discharge on the date,

Not too interested in providing much further details here
But i do not believe agent will demand a commission (part error in agent as well ). Think just progress with selling the property.

@Scott No Mates if you like i can PM you a bit of info - generic but at the least you might have a laugh

Will i be able to get the same money for the property again - I believe so but the fact someones reported as being sold for a certain price on a certain date is something that im annoyed at when it technically wasnt (transaction was not completed, just a contract). This I beleive is negative advertising

 

That's unfortunate. Can't it be corrected or removed since the property is not sold and information is now inaccurate?

 

Technically it was a contract. Sounds like you offered a sale that the bank didnt want to settle. Delayed settlement for a few days isnt reason to tear up a contract

The reported sale is just a further consequence