Under Queensland law, when must an agent who wants to obtain a beneficial interest in a property the agent has been appointed to sell get the seller's written acknowledgement and consent?
Correct Answer
D) Before a contract for the sale of the property is entered into
Section 155 of the Property Occupations Act 2014 (Qld) makes it an offence for an agent, or a salesperson employed by the agent, to obtain a beneficial interest in property the client has placed with the agent for sale. It is not an offence if, before the contract is entered into, the agent obtains the client's written acknowledgement in the approved form that they know of and consent to the interest, the agent acts fairly and honestly, and the client ends up substantially as well off as on a sale at fair market value.
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