In Victoria, which body is primarily responsible for regulating estate agents?
Correct Answer
D) Consumer Affairs Victoria (CAV)
Consumer Affairs Victoria is the primary regulator of estate agents in Victoria. It administers the Estate Agents Act 1980, handles licensing with the Business Licensing Authority, audits trust accounts, investigates complaints, and brings disciplinary proceedings and prosecutions.
Why This Is the Correct Answer
Consumer Affairs Victoria administers the Estate Agents Act 1980. It deals with licensing, monitors compliance, investigates complaints, audits trust accounts, and takes enforcement action against agents who breach their obligations.
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