Extract from the REIQ website:

The Property Agents and Motor Dealers Act 2000 regulates the real estate industry in Queensland. Introduced on July 1, 2001, this legislation has changed the way consumers buy and sell property in this State.

The Queensland Government, in consultation with the REIQ has set the commission for real estate agents at a maximum of 5% of the first $18,000 of the sale price and 2.5% of the balance of the sale price. 10% GST is also payable on the agent's commission.