After settlement, a delighted vendor drops off a case of good wine for her selling agent to thank him for his work on the sale. May he keep it under the gifts provision, s 53F?
Correct Answer
A) It is exempt, as a client's gift in gratitude for services under the agency agreement.
Section 53F(1) prohibits requesting or accepting gifts that could reasonably be seen to create a conflict of interest. Section 53F(2) exempts anything provided by the employer, anything provided under an agency agreement or given by a client in gratitude for services under it, and items below the prescribed value.
Why This Is the Correct Answer
Section 53F(2)(b) expressly exempts a client's gift given in gratitude for services under the agency agreement.
Why the Other Options Are Wrong
Background Knowledge for Ethics Compliance
Exam Tip for Ethics Compliance
Common Mistakes to Avoid on Ethics Compliance Questions
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Previous Question
After a NSW residential auction where the property was passed in, the vendor asks the agent for a copy of the Bidders Record so he can phone the underbidders himself. How should the agent respond?
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After the owner agrees by phone, an agent puts the property on a listing portal the same afternoon, planning to get the agency agreement signed next week. How does this sit with the rules of conduct?