In South Australia, which organisation publishes the standard form sale contract that agents most commonly use for residential sales?
Correct Answer
D) The Real Estate Institute of South Australia (REISA), the industry body
The sale contract most agents use in South Australian residential sales is REISA's standard form. The Law Society of South Australia publishes its own standard property documents, used mainly by legal practitioners. Neither form is compulsory; statutory protections such as Form 1 and cooling-off apply whichever contract is used.
Why This Is the Correct Answer
REISA, the industry body, publishes the standard residential sale contract that SA agents most commonly use. The Law Society publishes a separate form that lawyers tend to use.
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