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?
Correct Answer
A) It breaches the rule that all material particulars be inserted before signing.
Rule 15 of Schedule 1 prohibits an agent from submitting a document to a person for signature unless all material particulars have been inserted at that time. In an agency agreement the commission and the estimated selling price are plainly material.
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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?
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