A NSW agent's marketing emails recommend a mortgage broker as 'independent', but the broker pays the agent a fee for each referral. What do the rules of conduct require?
Correct Answer
D) Don't call it independent; disclose the relationship and benefits
Under the rules of conduct in the Property and Stock Agents Regulation 2022, an agent who refers a client to a service provider must not falsely represent that the provider is independent. If the provider is not independent, the agent must disclose the nature of the relationship and the nature and value of any rebates, commissions or other benefits the agent receives or expects to receive.
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A NSW property manager arranges a 12-month residential lease for a landlord. Is this an AUSTRAC real estate designated service?