Decision in $500,000 commission row

Saturday 15 May 2004

Colliers International has lost a case against a rival real estate agency over a commission on the $52 million sale of one of New Zealand's largest office parks.

By The Landlord

The sale was completed at the end of October 2002, when Australian company Macquarie Goodman announced it had bought the 6ha Central Park office complex on Great South Rd between Penrose and Greenlane in Auckland.

But a scrap between Colliers and Rands Robinson over the $500,000 sales commission has just been settled.

Colliers took its case to arbitration, claiming it was owed a share of the commission because it was involved in the sale and that Rands Robinson had breached the Real Estate Institute's code of ethics.

Read More - Opens in a new window
Commenting is closed

Property News

Downward pressures might push investors out

There’s a major housing market downturn coming and it’s likely to reduce the number of investors in the market, according to ANZ economists.

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.


Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer