Under the Estate Agents Act 1980, what is the difference between a licensed estate agent and an agent's representative in Victoria?
Correct Answer
D) A representative must be employed by or act for a licensed agent and cannot operate alone.
Under the Estate Agents Act 1980, an agent's representative must be employed by or engaged by a licensed estate agent and cannot conduct business independently. Only a licensed estate agent can operate an agency, hold trust funds, and is ultimately responsible for the conduct of their representatives.
Why This Is the Correct Answer
An agent's representative is not licensed to run an agency. They must be employed by or act for a licensed estate agent, who is responsible for supervising them and for the agency's trust account.
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