Agents fight for million-dollar commission

Agents fight for million-dollar commission

by 8 comments

Two prominent Sydney estate agents have retained the services of a high-profile Australian Queen's Council in order to claw back nearly $1,000,000 in commission as the proceeds of just one sale.

This week Bill Bridges, estate agent for Ballard Property Group based in Sydney’s eastern suburbs, confirmed to Real Estate Business he is still looking to sue the estate of William Tyree regarding the listing of 3 Lindsay Avenue, Darling Point by himself, Ken Jacobs (Christies International) and Michael Dunn (Richardson & Wrench).

Mr Bridges told Sydney press last month he and Mr Jacobs are allegedly owed more than $850,000 in commission because he and Mr Jacobs took the eventual purchaser, Mr Allen, to the property a number of times.

The estate was first listed in August 2011, asking for $50 million. The figure was amended to $35 million last year.  It is alleged 'yachtie' and investment banker Matt Allen made a "put and call option" for the property to the tune of around $32 million.

Speaking to Real Estate Business, Mr Bridges said he is going to court to chase down the commission he believes he is entitled to "no matter what".

“We are going to sue them no matter what,” Mr Bridges said.

“We are waiting to hear back from our Queen's Council and that will be coming back at the end of this week.”

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent grew his database by 50% in five years

In this episode of Secrets of the Top 100 Agents, Robert Pignataro joins host Tim Neary to explain how he increased his personal database by...

View all podcasts

Does the benefit of being part of a branded group outweigh the cost?

Yes
No
Depends on the group
Do you have an industry update?