New South Wales Consolidated Acts

PROPERTY AND STOCK AGENTS ACT 2002 - SECT 72

72 Definitions

(1) In this Division--

"agency agreement" for the sale of residential property, includes an agency agreement for the sale of residential property by auction.

"estimated selling price" for a residential property, means the price or price range specified, under section 72A, in the agency agreement for the sale of the property as the agent's estimate of the likely selling price of the property.

"publish" an advertisement means--

(a) insert the advertisement in any newspaper, periodical publication or other publication, or

(b) publicly exhibit the advertisement in, on, over or under any building, vehicle or place (whether or not a public place and whether on land or water), or in the air in view of persons being or passing in or on any street or public place, or

(c) include the advertisement in any document gratuitously sent or delivered to any person or thrown or left on premises occupied by any person, or

(d) broadcast the advertisement by radio or television, or

(e) disseminate the advertisement by a website, email or other electronic communication.

(2) For the purposes of this Division, a price is less than an estimated selling price that is expressed as a price range if it is lower than the lowest price in the range.

(3) For the purposes of this Division, a statement is made in the course of marketing a residential property if the statement is made--

(a) in an advertisement, or in arranging an advertisement, in respect of the property that is published or caused to be published by the agent, or

(b) to any person (orally or in writing) in connection with the proposed sale of the property.

(4) A reference in this Division to a person who is engaged by a real estate agent or stock and station agent is a reference to a person who is--

(a) an employee of the agent, or

(b) engaged by the agent, other than as an employee of the agent, to provide services in the course of the business carried on by the agent, or

(c) a person whose services are provided, other than as an employee of the agent, in the course of the business carried on by the agent under an arrangement entered into by the agent with another person.