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Centaline Property Agency Ltd v Lento Yip Yuk Fai
HK District Court, 18-Aug-2011
And the moral of the story is this: why would you sign an agency agreement in which the agent gets paid whether or not the transaction completes? After all, if the transaction fails, then the agent can still introduce another buyer or property (depending on which side the agent is acting for) and get paid for that. Buyers: read the agency agreement before you sign it, and remember - if the agent is acting for the vendor, then there is a conflict of interests if they act for you too. You may prefer to act for yourself.
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