New South Wales Consolidated Regulations

PROPERTY AND STOCK AGENTS REGULATION 2014 - REG 33A

33A Records of property reports to be kept by real estate agents

(1) A licensee acting on behalf of a person (
"the client" ) on the sale of a residential property must make a written record, in accordance with subclauses (3) and (4), of any report of which the licensee is aware in respect of--

(a) a building inspection of the property, or

(b) an inspection to detect whether or not the property is affected by termites or other pests, or

(c) an inspection of documents relating to the property under section 182 of the Strata Schemes Management Act 2015 , or

(d) a certificate as to financial matters under section 184 of the Strata Schemes Management Act 2015 , or

(e) an inspection of documents relating to the property under Part 10, Division 2 of the Community Land Management Act 2021 .

: Maximum penalty--

(a) 40 penalty units in the case of a corporation, or

(b) 20 penalty units in any other case.

(2) The licensee must disclose any record made under this clause to any person requesting a copy of the contract for the sale of the property.

: Maximum penalty--

(a) 40 penalty units in the case of a corporation, or

(b) 20 penalty units in any other case.

(3) A record of a report under this clause must contain the following particulars--

(a) the date on which the property or documents relating to the property were inspected for the purposes of the report,

(b) whether the person who requested the report to be prepared is the client, a prospective purchaser of the property or the licensee,

(c) the name, business address and telephone number of the person who prepared the report,

(d) whether the report is or is not available for repurchase by any person requesting a copy of the contract for the sale of the property,

(e) whether the person who prepared the report is insured under a policy of professional indemnity insurance.

(4) A licensee is not required to make a record of any particulars referred to in subclause (3) that are not known to or cannot be reasonably obtained by the licensee.

(5) For the purposes of this clause, or any other law, a licensee is taken to have the authority to make any disclosure required for the purposes of this clause.