In Queensland, minimum standards of employment apply to all property sales & property management employees. For employees of corporations, these standards are prescribed by the Real Estate Industry Award 2010 and the National Employment standards. The award was established by the PSAQ (representing employees) & the Real Estate Employers’ Association (REEA), in co-operation with industry-based organisations interstate.
All employees covered by the award are required to have a written agreement registered with the Queensland Property Industry Registry (QPIR). The paperwork needed is:
- Application to Register Written Agreement; and
- a written agreement dealing with all mandatory matters in the award.
The above paperwork must be completed and forwarded to QPIR for registration.
Commission-offset (debit/credit) or commission-only is permitted only once an agreement to that effect is registered with QPIR.
Until an agreement is registered, the employer must pay on a weekly basis, in addition to any payment of commission, bonus or other incentive payments, not less than the minimum weekly wage.
An administration fee is payable for each agreement registration - half by the employee and half by the employer. To streamline matters, an employer may pay the full fee and then deduct the employee share from the employee's commission, incentive or bonus.
Download: Real Estate Industry Award 2010
