In Victoria, which body is primarily responsible for regulating estate agents?
Correct Answer
B) Consumer Affairs Victoria (CAV)
Consumer Affairs Victoria (CAV), a division of the Department of Justice and Community Safety, is the primary regulatory body for estate agents in Victoria. It administers the Estate Agents Act 1980 and oversees licensing, conduct, and trust account compliance.
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In Victoria, an estate agent's authority to sell a residential property must be in writing. What is the maximum term for an exclusive sale authority?
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