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?
Correct Answer
B) It breaches the rule against acting as agent without the person's written authority.
Rule 8 of Schedule 1 says an agent must not act as agent, or represent that they are acting as agent, for a person without that person's written authority (a sale solely of livestock is excepted). Separately, s 55 of the Act denies commission without a compliant written agency agreement.
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NSW Fair Trading serves a notice to show cause on an agent over alleged breaches of the rules of conduct. How long must the notice give the agent to respond?
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In New South Wales, what must an agent give a client before the client signs an agency agreement for the sale of residential property?
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- → At an open home, a buyer asks the selling agent whether the roof was replaced when the house was renovated. The agent does not know. What is the appropriate response?
- → A licensee in charge learns that one of the sales agents routinely leaves the estimated selling price out of agency agreements. Under Schedule 1, what is the licensee in charge's obligation?
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- → 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?
- → A buyer asks the vendor's agent for the lowest price the vendor has said she would accept. The vendor has not authorised the agent to reveal it. What should the agent do?
- → To win a listing on her preferred terms, an agent tells the owner that NSW law makes a 90-day exclusive period compulsory in every sale listing. It does not. What has she done?
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Previous Question
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?
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An agent asks a vendor to sign an agency agreement with the commission rate and estimated selling price left blank, saying she will fill them in once the campaign is planned. What is the position?