REAL
ESTATE AGENTS AND SALESPERSONS – RULES OF CONDUCT
Rules
of conduct
Real estate agents
and salespersons – sales: Rules
20 – 28
Real
estate agents and salespersons – property management:
Rules
29 – 31
Rules
1 – 5
1.
Knowledge of Act
and Regulations
An agent must have
a knowledge and understanding of the Act
and the regulations under the Act
and other relevant laws, (including laws relating to tenancy, fair
trading, trade practices, anti-discrimination and privacy) as may be
necessary to enable the agent to exercise his or her functions as
agent lawfully.
2.
Fiduciary obligations
An agent must
comply with the fiduciary obligations arising as an agent.
3.
Honesty, fairness and professionalism
An agent must act
honestly, fairly and professionally with all parties in a
transaction.
An agent must not mislead or deceive any parties in
negotiations or a transaction.
4.
Skill, care and diligence
An agent must
exercise reasonable skill, care and diligence.
5.
High pressure tactics, harassment or unconscionable conduct
An agent must not
engage in high pressure tactics, harassment or harsh or
unconscionable conduct.
Rules
6 – 9
6.
To act in client’s best interests
An agent must act
in the client’s best interest at all times unless it would be
contrary to the Act
or regulations under the Act
or
otherwise unlawful to do so.
7.
Confidentiality
An agent must not,
at any time, use or disclose any confidential information obtained
while acting on behalf of a client or dealing with a customer,
unless:
(a) the client or
customer authorises disclosure, or
(b) the agent is permitted or
compelled by law to disclose.
8.
To act in accordance with client authority
An agent must not
act as an agent or represent himself or herself as acting as an agent
on behalf of a person without written authority.
9.
To act in accordance with client’s instructions
An agent must act
in accordance with a client’s instructions unless it would be
contrary to this Act
or regulations under the Act,
or otherwise unlawful to do so.
Rules
10 – 13
10.
Licensee must ensure employees comply with the Act and regulations
An agent who is
the licensee-in-charge at a place of business must take reasonable
steps to ensure other licensees or registered persons employed in the
business conducted there comply with the Act
and regulations under the Act.
11.
Conflicts of interest
An agent must not
accept an appointment to act, or continue to act, as an agent if
doing so would place the agent’s interests in conflict with the
client’s interests.
12.
Referral to service provider
An agent who
refers a principal or prospect to a service provider must not falsely
represent to the principal or prospect that the service provider is
independent of the agent.
A service provider
is considered to be “independent” of an agent if:
a) the agent
receives no rebate, discount, commission or benefit for referring a
client or customer to the service provider, and
(b) the agent does
not have a personal or commercial relationship with the service
provider.
The following are
examples of a personal or commercial relationship:
(a) a family
relationship,
(b) a business relationship,
(c) a fiduciary
relationship,
(d) a relationship in which one person is
accustomed, or obliged, to act in accordance with the directions,
instructions or wishes of the other person.
If the service
provider is not independent of the agent, the agent must disclose to
the principal or prospect:
(a) the nature of
any relationship, whether personal or commercial, the agent has with
the service provider, and
(b) the nature and value of any rebate,
discount, commission or benefit the agent may receive, or expects to
receive, by referring the client or customer to the service provider.
13.
Licensee not to recommend engagement of services of solicitor or
licensed conveyancer acting for other party
An agent must not
recommend that a principal or prospect engage the services of a
solicitor or licensed conveyancer, or firm of solicitors or licensed
conveyancers, if the agent knows that the solicitor or licensed
conveyancer, or the firm of solicitors or licensed conveyancers, acts
or will be acting for the other party to the agreement concerned.
Sub-clause (1)
does not prevent an agent recommending that a principal or prospect
engage the services of a solicitor or licensed conveyancer if no
other solicitor or licensed conveyancer is available (for example, in
a remote location).
If no other
solicitor or licensed conveyancer is available, the agent must, in
recommending their engagement, advise the principal or prospect that
the solicitor or licensed conveyance is or will be acting for the
other party.
Rules
14 – 19
14.
Inducements
An agent must not
offer to provide to any other person any gift, favour or benefit,
whether monetary or otherwise, in order to induce any other person to
engage the services of the agent as agent in respect of any matter.
15.
Soliciting through false or misleading advertisements or
communications
An agent must not
solicit clients or customers through advertisements or other
communications that the agent knows or should know are false or
misleading.
16.
Insertion of material particulars in documents
An agent must not
submit or tender to any person for signature a document, or cause or
permit any document to be submitted or tendered to any person for
signature, unless at the time of submission or tendering of the
document all material particulars have been inserted in the
document.
17.
Duty to provide copy of signed documents
An agent who
submits or tenders a document to any person for signature, or who
causes or permits a document to be submitted or tendered to any
person for signature, must immediately after the person has signed
the document give a copy of the document to the person.
18.
Representations about the Act
or regulations
An agent must not
falsely represent to a person the nature or effect of a provision of
the Act
or
any regulation under the Act.
An agent must not,
either expressly or impliedly, falsely represent, whether in writing
or otherwise, to a person that a particular form of agency agreement
or any term of such an agreement is required by the Act
or a regulation under the Act.
19.
Agency agreements must comply with regulations
An agent must not
enter into an agency agreement unless the agreement complies with any
applicable requirements of the Property,
Stock and Business Agents Regulation 2003,
as required by section 55 of the Act.
Real estate agents
and salespersons – sales: Rules
20 – 28
Real
estate agents and salespersons – property management:
Rules
29 – 31
5