Get Form 3 Estate Agents Act 1980

You must not intentionally misrepresent that you are eligible to be employed as an agent's representative. You must not permit or assist a person who is not licensed to carry on the business of an estate agent. You must not publish or authorise the publication of an advertisement that is false or misleading.

an authority to sell must state the agent's estimate of the selling price, in the wording approved by Consumer Affairs Victoria. This price can be a single figure or a range of up to 10 per cent.

A conflict of interest may arise if you: act for another person whose interests are in conflict with your client's (for example, if you act for both a seller and buyer, or landlord and tenant) recommend a supplier to a client without disclosing any personal or commercial interest you may have with that supplier.

False or misleading claims about properties advertise a selling price based on either a reasonable market appraisal or what the seller will accept. not advertise well below the selling price to attract interest.

The Act features provisions which prohibit false or misleading representations concerning the price given by estate agents whether in writing, orally or through advertising material.

What is a Section 52? A Section 52 is a disclosure statement that the owner of a small business must provide to a prospective purchaser. This statement follows the legal requirements set out in Section 52 of the Estate Agents Act 1980 for Victoria. But not every vendor is required to provide a Section 52.

the operation of the Estate Agents Act 1980 (the Act) and its regulations. the efficiency and effectiveness of industry regulation under the Act and its regulations.

act fairly, honestly, in good faith and to the best of their knowledge and ability at all times. act in their client's best interests, except if it would be unlawful, unreasonable, improper or against their client's instructions.