Section 130 of the Real Estate Agents Act 2008 (the Act) allows the vendor to cancel a sole agency agreement by 5pm on the first working day after they have been given a copy of the agreement.
If an agent carried out any agency work before the agreement is cancelled, and that work results in the conclusion of a contract concerning a property transaction, the agency agreement will be legally binding.
If the sole agency agreement relates to residential property and is for a term longer than 90 days, both the client and the agent can cancel at any time 90 days after the agreement was signed (refer to section 131 of the Act).
