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I think there are some states that may be different - it's been discussed on the forum before - but certainly in QLD they become entitled to commission as soon as the contract goes unconditional. It's a convention that they only collect it at settlement, to assist their clients' cashflow, but...

True, less likely. If you're offering both a very low price and a tiny deposit, yes, the risks are certainly substantially lower, and that may work if it's a buyer's market and/or the vendor's desperate and accepts such an offer. The RE agent is entitled to their commission in such a...

No, there aren't any "get out" clauses; hence the term "unconditional". You are saying that you will settle - no exceptions! Um, no, you can't. UNCONDITIONAL means just that; without any conditions. Not settling puts you in breach of contract and could result in either specific performance...