Estate Agents (Professional Conduct) Regulations
1997
S.R. No. 50/1997
TABLE OF PROVISIONS
Regulation
Page
1.
Objective
1
2.
Authorising provision
1
3.
Commencement
1
4.
Revocation
1
5.
Definitions
2
6.
Fairness and honesty
2
7.
Best interests of the principal
2
8.
Duties and obligations
2
9.
Knowledge of the law
3
10. Compliance with legislation
3
11. Good estate agency practice
3
12. Authorities and instructions
3
13. Acting for or accepting commission from a person other than the
principal
4
14. Current market price
4
15. Ascertaining information
4
16. Exaggeration or concealment
5
17. Advertisement or notice of sale or letting
5
18. Communication of offers
5
19. Confidential information
5
20. Inducing breach of contract
5
21. Soliciting listings
5
22. Notifying managing agents
5
23. Disputes
6
24. Agent's Representative representations
6
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NOTES
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i
STATUTORY RULES 1997
S.R. No. 50/1997
Estate Agents Act 1980
Estate Agents (Professional Conduct) Regulations
1997
The Governor in Council makes the following Regulations:
Dated: 17 June 1997
Responsible Minister:
JAN WADE
Minister for Fair Trading
SHARNE BRYAN
Clerk of the Executive Council
1. Objective
The objective of these Regulations is to prescribe
rules of professional conduct for estate agents and
agent's representatives.
2. Authorising provision
These Regulations are made under section 99 of
the Estate Agents Act 1980.
3. Commencement
These Regulations come into operation on 1 July
1997.
4. Revocation
The Estate Agents (Professional Conduct) Rules
19921 are revoked.
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5. Definitions
(1) In these Regulations—
"agent" means an estate agent or agent's
representative;
"principal", in relation to an agent's
representative, means the principal of the
estate agent by whom the agent's
representative is employed;
"the Act" means the Estate Agents Act 1980.
(2) In these Regulations, words and expressions
defined in section 4 of the Act have the
interpretations assigned to them by that section.
6. Fairness and honesty
An agent must at all times, in the conduct of his or
her profession, act fairly and honestly and to the
best of his or her knowledge and ability.
7. Best interests of the principal
(1) An agent must not accept an engagement to act
where to do so would place his or her interest in
conflict with that of the principal.
(2) An agent must act in the best interests of his or
her principal except where it would be
unreasonable or improper to do so.
(3) An agent must not knowingly mislead or deceive
any parties involved in negotiations or a
transaction.
8. Duties and obligations
An agent must have a working knowledge of the
duties and obligations of an agent towards his or
her principal.
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9. Knowledge of the law
An agent must have a working knowledge of—
(a) the Act and any regulations made under the
Act; and
(b) other statutes and any rules or regulations in
force in Victoria to the extent that they are
relevant to the conduct of his or her
profession.
10. Compliance with legislation
An agent must not in the conduct of his or her
profession contravene or fail to comply with any
statute, rule or regulation in force in Victoria to
the extent that it is relevant to the conduct of his
or her profession.
11. Good estate agency practice
(1) An agent must not engage in conduct that is
contrary to good estate agency practice.
(2) An agent must exercise skill, care and diligence in
the conduct of his or her profession.
(3) An agent must not engage in conduct that is
detrimental to the reputation or interests of his or
her profession.
(4) An agent must complete all work on behalf of his
or her principal as soon as is reasonably possible.
12. Authorities and instructions
(1) An agent must not represent himself or herself as
acting on behalf of a person as if that person were
his or her principal, or act on behalf of his or her
principal, without authority.
(2) An agent must act in accordance with the
instructions of a principal, except where to do so
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would be unlawful or contrary to good estate
agency practice.
(3) An agent must not—
(a) offer for sale any real estate or business for a
principal at a lower price than authorised, or
on different terms than authorised, by the
principal; or
(b) offer to purchase any real estate or business
for a principal at a higher price than
authorised, or on different terms than
authorised, by the principal.
13. Acting for or accepting commission from a person
other than the principal
An agent must not—
(a) act for, or accept commission from, the
vendor when engaged to purchase any real
estate or business on behalf of a purchaser;
or
(b) act for, or accept commission from, the
landlord when engaged to obtain a tenancy
of any real estate or business on behalf of a
tenant.
14. Current market price
An agent engaged to sell or purchase any real
estate or business must advise his or her principal
as to what the agent considers to be the current
market price of that real estate or business and, if
requested, give reasons for that opinion.
15. Ascertaining information
An agent must make reasonable enquiry to
ascertain the information relevant to a service or
transaction to be provided or performed by him or
her.
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Estate Agents (Professional Conduct) Regulations 1997
S.R. No. 50/1997
16. Exaggeration or concealment
An agent in the conduct of his or her profession
must not engage in any form of exaggeration or
concealment.
17. Advertisement or notice of sale or letting
An agent must not without authority from his or
her principal advertise that any real estate or
business is for sale or to let or erect or display a
notice of sale or letting.
18. Communication of offers
An agent must communicate all offers to his or
her principal as soon as possible.
19. Confidential information
An agent must not at any time use or disclose any
confidential information obtained while acting on
behalf of his or her principal, except for
information that an agent is required by law to
disclose.
20. Inducing breach of contract
An agent must not knowingly induce or attempt to
induce a person to breach a contract of sale,
letting or agency or a contract of any other kind.
21. Soliciting listings
An agent must not solicit a listing of any real
estate or business from an owner where the agent
is aware that another agent is engaged by the
owner under a sole or exclusive agency
engagement or appointment to sell or let the real
estate or business.
22. Notifying managing agents
(1) If an agent accepts an engagement to sell any real
estate and is or becomes aware that another agent
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is the managing agent of that real estate, he or she
must immediately give written notice of the
appointment to the managing agent.
(2) In sub-regulation (1) "managing agent" means—
(a) the agent engaged or appointed by the owner
to manage or collect the rent of a single
property; or
(b) the only agent who collects the rents of units
in a multi-unit building.
23. Disputes
An agent must make every effort to minimise
disputes with other agents and to resolve disputes
that do arise as speedily and fairly as possible.
24. Agent's Representative representations
(1) An agent's representative must not intentionally
represent himself or herself as—
(a) the holder of an estate agent's licence; or
(b) a person who manages the day-to-day
operation of an estate agency office unless
he or she is authorised to manage that office
under section 30, 30AB or 30A of the Act; or
(c) the officer in effective control of the estate
agency business of a corporation that is the
holder of an estate agent's licence; or
(d) a director engaged in the estate agency work
of a corporation unless he or she is a director
referred to in section 15(2), (3) or (7) of the
Act.
(2) An agent's representative must not describe
himself or herself as an associate director, or use a
title that includes the word director in relation to a
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S.R. No. 50/1997
corporation that is the holder of an estate agent's
licence unless he or she is a director of that
corporation.
(3) An agent must not induce or attempt to induce an
agent's representative to contravene subregulation (1) or (2).
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Notes
NOTES
1
S.R. No. 134/1992.
Note: Section 49 of the Estate Agents (Amendment) Act 1994 deems the
Estate Agents (Professional Conduct) Rules 1992 to have been made
as regulations under section 99 of the Estate Agents Act 1980 and
provides that they may be amended or revoked by regulations made
under that section.
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