LAND EXCHANGE.

Star (Christchurch), Issue 11672, 12 April 1916, Page 4

LAND EXCHANGE.

QUESTION OF COMMISSION. • ' ——• At the Supremo Court yesterday his Honor Mr Justice Denniston passed somo strong comment on tho case of property exchange where the land has changed, hands six times. His Honor said that it would le interesting to learn how much the commission on all the exchanges would amount to. The land, which comprised 103G acres, was originally sold for £lO 10s per acre aud on the last- exchange went for £lB 113s per acre. \ A reporter this mcrniug mad>3 some iuquiries among land agents in an endeavour to discover it possible approximately how much money had goue m commission. He found that it would be impossible to do so without a complete record of all tho transactions. Agents say that in cases of exchange the commission is generally fixed by mutual arrangement. Sometimes it is paid by one party only and sometimes by both: very often not at all. In cases of exchange agents have no fixed Chamber of Commerce charges and clients, accoiding to report, often agree to a commission and afterwards fail to pay. Ono land agent said this morning that he had £6OOO in commissions on exchange outstanding on his books and if somebody came along aud offered him £2OOO for the lot ho would think very seriously about it.