In the interest of furthering our knowledge the Property, Stock and Business Agents Act 2002 No 66 states the definition of a Real Estate Agent or Sales person is as follows: real estate agent means a person (whether or not the person carries on any other business) who, for reward (whether monetary or otherwise), carries on business as an auctioneer of land or as an agent: (a) for a real estate transaction, or (b) for inducing or attempting to induce or negotiating with a view to inducing any person to enter into, or to make or accept an offer to enter into, a real estate transaction or a contract for a real estate transaction, or (c) for the introduction, or arranging for the introduction, of a prospective purchaser, lessee or licensee of land to another licensed agent or to the owner, or the agent of the owner, of land, or (d) collecting rents payable in respect of any lease of land and otherwise providing property management services in respect of the leasing of any land, or (e) for any other activity in connection with land that is prescribed by the regulations for the purposes of this definition. but does not include a person who carries on business as an auctioneer or agent in respect of any parcel of rural land unless the regulations otherwise provide. Note. This definition is not limited to the selling of land and extends to an agent acting on behalf of the buyer of land (a buyer’s agent). As noted in section 168 of the Retirement Villages Act 1999, a selling agent acting on the sale of residential premises in a retirement village must be licensed as a real estate agent under this Act. real estate salesperson means a person (other than the holder of a real estate agent’s licence) who, as an employee of a real estate agent or a corporation that carries on the business of a real estate agent: (a) exercises any of the functions of a real estate agent, or (b) engages in any other activity that is prescribed by the regulations for the purposes of this definition. real estate transaction means the purchase, sale, exchange, lease, assignment or other disposal of land, whether or not an auction is involved and agent means: (a) a real estate agent, or (b) a stock and station agent, or (c) a business agent, or (d) a strata managing agent, or (e) a community managing agent, or (f) an on-site residential property manager. Again: When do you need a licence? Some people have established small businesses in NSW providing assistance to home owners wishing to privately sell their home without the intervention of a licensed real estate agent. The services offered through such businesses may include the preparation of fliers and signage as well as assistance with ‘open house’ inspections. These operators generally charge a set fee, rather then a percentage of the eventual selling price as agents do and believe they offer their clients a more personalised service than what may be provided by a licensed agent. Activities that do not require a licence! Only a limited range of services relating to the selling of real estate may be provided without holding a licence, such as: (a) placing vendors’ advertising on your web site provided that any prospective purchaser can only contact the vendor to express their interest, and not you (b) assisting vendors with the preparation of signage for their property or the production of advertising fliers. Admin.
Posted on: Sat, 14 Sep 2013 07:06:00 +0000
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