Compliance Information

This section contains information on some of the things licensees need to do to comply to the Real Estate Agents Act 2008 (the Act). 

This information is an overview only and licensees do need to understand the Act, the Regulations and the Rules (Code of Professional Conduct and Client Care and Continuing Education)  to ensure all compliance requirements are met.

Compliance information covered in this section includes:

• Agency Agreements
• Approved Guides
• Conflict of interest
• Code of Professional Conduct and Client Care
• Trust Accounts

The Act applies equally to commercial, industrial and rural property transactions as it does to residential property transactions. However, the following provisions of the Act apply only to residential property:

• Approved guide to be provided before agency agreement for residential property signed (section 127)
• Parties may cancel sole agency agreements in respect of residential property 90 days after agreement is signed (section 131)
• Approved guide to be provided before contractual document relating to the proposed sale of a residential property is signed (section 133).

Any licensee who is carrying out agency work in respect of any commercial, industrial, rural and residential property transaction must ensure that they comply with the requirements of the Act, Regulations and the Code of Professional Conduct and Client Care at all times.