New South Wales Consolidated Acts

PROPERTY AND STOCK AGENTS ACT 2002 - SECT 3A

3A Real estate agent functions

(1) In this Act,
"real estate agent functions" means any of the following functions--

(a) business agent functions,

(b) on-site residential property manager functions,

(c) real estate sale or leasing functions,

but does not include acting as an auctioneer or agent in respect of any parcel of rural land (unless the regulations otherwise provide) or any other function prescribed by the regulations.

(2) For the purposes of this Act--

"business agent functions" means--

(a) selling, buying or exchanging or otherwise dealing with or disposing of businesses or professional practices, or any share or interest in or concerning or the goodwill of, or any stocks connected with, businesses or professional practices, or

(b) negotiating for the sale, purchase or exchange or any other dealing with or disposition of businesses or professional practices, or any share or interest in or concerning or the goodwill of, or any stocks connected with, businesses or professional practices, or

(c) any other function that is prescribed by the regulations for the purposes of this definition.

"on-site residential property manager functions" means--

(a) acting as an agent for giving possession of residential premises under a lease, licence or other contract, or

(b) acting as an agent for collecting bonds, deposits, rents, fees or other charges in connection with any such lease, licence or other contract, or

(c) any other function that is prescribed by the regulations for the purposes of this definition.

"real estate sale or leasing functions" means--

(a) acting as an auctioneer of land, or

(b) acting as agent for a real estate transaction, or

(c) acting as agent for inducing or attempting to induce or negotiating with a view to inducing any person to enter into, or to make or accept an offer to enter into, a real estate transaction or a contract for a real estate transaction, or

(d) acting as agent for the introduction, or arranging for the introduction, of a prospective purchaser, lessee or licensee of land to another licensed agent or to the owner, or the agent of the owner, of land, or

(e) acting as agent collecting rents payable in respect of any lease of land and otherwise providing property management services in respect of the leasing of any land, or

(f) any other function in connection with land that is prescribed by the regulations for the purposes of this definition.

Note : This definition is not limited to the selling of land and extends to an agent acting on behalf of the buyer of land (a buyer's agent).