Queensland Numbered Acts Queensland Numbered Acts(1) This section applies to property placed by a person (client) with a property agent for sale.
(2) The property agent commits an offence if the agent obtains from the client an option to purchase the property in which the agent has a beneficial interest.
Maximum penalty—200 penalty units or 3 years imprisonment.
(3) A real estate salesperson employed by the real estate agent commits an offence if the salesperson obtains from the client an option to purchase the property in which the salesperson has a beneficial interest.
Maximum penalty—200 penalty units or 3 years imprisonment.
(4) The property agent must not sell the property if the agent obtains a beneficial interest in an option to purchase the property.
Maximum penalty—200 penalty units or 3 years imprisonment.
Note—
A person may make a claim, under the Administration Act, against the fund if the person suffers financial loss because of a contravention of this section.