The Australian Fair Pay Commission (Commission) has determined a new piece rate Australian Pay and Classification Scale (Pay Scale) for the real estate sector.
The following demonstrates how calculations are made under the Real Estate Agents’ (Commission Only) Australian Pay and Classification Scale, where one or more employees are involved in a property sale.
One employee selling a property
A single employee covered by the Pay Scale responsible for selling a property is entitled to at least 35% of the employer’s net commission for the completed sales transaction.
Employer’s net commission means the employer’s gross commission minus:
(i) any portion of the employer’s gross commission paid to a conjunction agent; and
(ii) any applicable GST on the employer’s gross commission; and
(iii) 10% of the amount remaining after the above amounts have been subtracted.
Two or more employees working together to sell a property
Where two or more employees are involved in selling a property:
- each employee is required to make an agreement with their employer, in writing, that states the proportion of the employer’s net commission that they will receive if the sale proceeds to completion; and
- the total of all the proportions in the agreement(s) must add up to at least 35% of the employer’s net commission.
Part 1 - Who does the new Pay Scale apply to?
Example - Sufficient income calculations
Need further information?
If you would like more information on wage rates, call the Workplace Infoline on 1300 363 264.