Agents fight for million-dollar commission

Agents fight for million-dollar commission

08 October 2014 by Staff Reporter 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.”

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