New South Wales Consolidated Regulations

PROPERTY AND STOCK AGENTS REGULATION 2022 - REG 4

4 Real estate agent functions--the Act, s 3A

(1) For the Act, section 3A(1), definition of
"real estate agent functions" , the functions--

(a) include acting as an auctioneer or agent in relation to a parcel of rural land with an area of 20 hectares or less, and

(b) do not include a person undertaking commercial property agency work on behalf of--

(i) an affiliate of the person, or

(ii) an entity that owns, whether or not together with an affiliate of the entity, a major property holding.

(2) In this section--

"major property holding" means property that has--

(a) an aggregate market value of $40,000,000 or more, or

(b) an aggregate gross floor area of 20,000m 2 or more.