New South Wales Consolidated Regulations New South Wales Consolidated Regulations(Clause 7)
Note : Clause 7 provides that a reference in this Schedule to an agent includes a reference to a registered person to whom the Schedule applies.
An agent must have a knowledge and understanding of the Act and the regulations under the Act, and such other laws relevant to the category of licence or certificate of registration held (including, laws relating to residential tenancy, fair trading, competition and consumer protection, anti-discrimination and privacy) as may be necessary to enable the agent to exercise his or her functions as agent lawfully.
An agent must comply with the fiduciary obligations arising as an agent.
(1) An agent must act honestly, fairly and professionally with all parties in a transaction.
(2) An agent must not mislead or deceive any parties in negotiations or a transaction.
An agent must exercise reasonable skill, care and diligence.
An agent must not engage in high pressure tactics, harassment or harsh or unconscionable conduct.
An agent must act in the client's best interests at all times unless it would be contrary to the Act or regulations under the Act or otherwise unlawful to do so.
An agent must not, at any time, use or disclose any confidential information obtained while acting on behalf of a client or dealing with a customer, unless--
(a) the client or customer authorises the disclosure, or
(b) the agent is permitted or compelled by law to disclose the information.
(1) An agent must not act as an agent or represent himself or herself as acting as an agent on behalf of a person without written authority.
(2) This clause does not apply to a sale solely of livestock.
An agent must act in accordance with a client's instructions unless it would be contrary to the Act or regulations under the Act or otherwise unlawful to do so.
An agent who is the licensee-in-charge at a place of business of a licensee must take reasonable steps to ensure other licensees or registered persons employed in the business conducted there comply with the Act and regulations under the Act.
An agent must not accept an appointment to act, or continue to act, as an agent if doing so would place the agent's interests in conflict with the client's interests.
(1) An agent who refers a person to a service provider must not falsely represent to the person that the service provider is independent of the agent.
(2) For the purposes of this clause, a service provider is considered to be
"independent" of an agent if--(a) the agent receives no rebate, discount, commission or benefit for referring a client or customer to the service provider, and(b) the agent does not have a personal or commercial relationship with the service provider.
(3) The following are examples of a personal or commercial relationship--(a) a family relationship,(b) a business relationship,(c) a fiduciary relationship,(d) a relationship in which one person is accustomed, or obliged, to act in accordance with the directions, instructions or wishes of the other person.
(4) If the service provider is not independent of the agent, the agent must disclose to the person--(a) the nature of any relationship, whether personal or commercial, the agent has with the service provider, and(b) the nature and value of any rebate, discount, commission or benefit the agent may receive, or expects to receive, by referring the client or customer to the service provider.
(1) An agent must not recommend that a person engage the services of a solicitor or licensed conveyancer, or firm of solicitors or licensed conveyancers, if the agent knows that the solicitor or licensed conveyancer, or the firm of solicitors or licensed conveyancers, acts or will be acting for the other party to the agreement concerned.
(2) Subclause (1) does not prevent an agent recommending that a person engage the services of a solicitor or licensed conveyancer if no other solicitor or licensed conveyancer is available (for example, in a remote location).
(3) If no other solicitor or licensed conveyancer is available, the agent must, in recommending the engagement of the solicitor or conveyancer, advise the person that the solicitor or licensed conveyancer is or will be acting for the other party.
An agent must not offer to provide to any other person any gift, favour or benefit, whether monetary or otherwise, in order to induce a third person to engage the services of the agent as agent in respect of any matter.
An agent must not submit or tender to any person for signature a document, or cause or permit any document to be submitted or tendered to any person for signature, unless at the time of submission or tendering of the document all material particulars have been inserted in the document.
An agent who submits or tenders a document to any person for signature, or who causes or permits a document to be submitted or tendered to any person for signature, must immediately after the person has signed the document give a copy of the document to the person.
(1) An agent must not falsely represent to a person the nature or effect of a provision of the Act or any regulation under the Act.
(2) An agent must not, either expressly or impliedly, falsely represent, whether in writing or otherwise, to a person that a particular form of agency agreement or any term of such an agreement is required by the Act or a regulation under the Act.
An agent must not enter into an agency agreement unless the agreement complies with any applicable requirements of this Regulation, as required by section 55 of the Act.
An agent must pay rental money for each calendar month (less any authorised expenses) owing to a landlord under a residential tenancy agreement at the end of each calendar month, unless instructed otherwise by the landlord.
The amount prescribed for the purposes of section 53F(2)(d) of the Act is $60.
An agent who is the licensee in charge of a business must ensure that there are separate trust accounts for rental money and sales money and that money from rentals and sales are paid into the appropriate accounts.