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No worries at all Oz. I would be very surprised to see any REIQ accredited agency using any other PAMD 22a so definitely something worth considering when appointing an agent. I would personally have no problem with a client wanting to delete this clause from the agreement.

Oz, No worries at all. Your July '09 22a is the most recent and s12 is the one you're looking for, specifically below s12.2(3) being the most relevant. Edit: Sorry i've just realised you're viewing a PAMD 22a with no attached conditions. You will find 99% of agents with be using the REIQ PAMD...

From a best practice point of view, you are entirely correct and this is the practice we generally follow. It is often worth allowing the vendor recieve the entire amount in the interest of keeping things harmonious.

Just keep in mind if you are interested in doing the above, it should be stated on the listing agreement rather than the contract. This is the case for QLD, unsure about other states.

I think we should clarify which states we're talking about here. In Queensland this is not the case. If the purchaser terminates the contract under the cooling off period, the 0.25% penalty is to be divided equally between the Vendor and the Agent as per the PAMD 22a.