{"id":"sl-2003-38","name":"Agents Regulation 2003","slug":"agents-regulation-2003","collection":"regulation","jurisdiction":"act","status":"in_force","isInForce":true,"actNumber":"38 of 2003","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":173244,"registerId":"act-sl-2003-38-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"5C","sectionType":"section","heading":"Entities to which Act does not apply—Act, s 6 (l)","content":"5C Entities to which Act does not apply—Act, s 6 (l)\n(1) The following entities are prescribed:\n(a) a registered community housing provider when providing or\noffering to provide a tenancy management service;\n(b) a person who provides or offers to provide a tenancy\nmanagement service as an employee of a registered community\nhousing provider.\n(2) In this section:\nregistered community housing provider—see the Community\nHousing Providers National Law (ACT), section 4 (1).\nNote The Community Housing Providers National Law (ACT) Act 2013, s 7\napplies the Community Housing Providers National Law set out in the\nappendix to the Community Housing Providers (Adoption of National\nLaw) Act 2012 (NSW), as if it were a territory law referred to as the\nCommunity Housing Providers National Law (ACT).\n\n","sortOrder":0},{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"Part 1 Preliminary\nSection 5D\npage 4 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\ntenancy management service—each of the following is a tenancy\nmanagement service:\n(a) leasing land;\n(b) negotiating with a person to enter into, or make or accept an\noffer to enter into, a lease, of land;\n(c) collecting payments under a lease;\n(d) managing property under a lease.\n","sortOrder":1},{"sectionNumber":"5D","sectionType":"section","heading":"Act, s 28, s 29 (1) and s 45 do not apply in relation to","content":"5D Act, s 28, s 29 (1) and s 45 do not apply in relation to\nowners corporation managing agent––Act, s 6 (l)\n(1) The Act, section 28 (Advertising intended licence applications) and\nsection 29 (1) (Licence applications) do not apply to a person\napplying for a real estate agents licence that is subject to the condition\nthat the person act only as an owners corporation managing agent.\n(2) The Act, section 45 (Assistant real estate agents must be registered)\ndoes not apply to a person employed by a licensed real estate agent\nif––\n(a) the person only provides services in relation to the management\nof an owners corporation; or\n(b) the real estate agent’s licence is subject to the condition that the\nperson act only as an owners corporation managing agent.\n\nLicensing Part 2\nSection 7A\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 5\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n","sortOrder":2},{"sectionNumber":"Part 2","sectionType":"part","heading":"Licensing","content":"Part 2 Licensing\n","sortOrder":3},{"sectionNumber":"7A","sectionType":"section","heading":"Licence conditions—professional development—Act,","content":"7A Licence conditions—professional development—Act,\ns 34 (1) (a)\n(1) It is a condition of a licence that the licensed agent satisfy the relevant\nrequirements for continuing professional development set out in the\nguideline under subsection (2) that applies to the agent, within the\nperiod set out in the guideline.\n(2) The commissioner for fair trading may, in writing, make guidelines\nfor continuing professional development for licensed agents.\n(3) A guideline under subsection (2) is a notifiable instrument.\nNote A notifiable instrument must be notified under the Legislation Act.\n8 Renewal of licences—Act, s 36\nThe prescribed requirement is that the applicant has not contravened\nany condition imposed on the licence under the Act, including any\ncondition put on the licence under the Act, section 34.\nExample\nthe person has successfully completed any requirements for professional\ndevelopment stated as a condition of the licence\n\nPart 3 Registration\nSection 10\npage 6 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n","sortOrder":4},{"sectionNumber":"Part 3","sectionType":"part","heading":"Registration","content":"Part 3 Registration\n","sortOrder":5},{"sectionNumber":"10","sectionType":"section","heading":"Information to be included in advertisement of intention","content":"10 Information to be included in advertisement of intention\nto apply for registration—Act, s 52 (2) (b)\nThe notice must also state the applicant’s full name and postal\naddress.\n","sortOrder":6},{"sectionNumber":"10A","sectionType":"section","heading":"Registration conditions—professional development—Act,","content":"10A Registration conditions—professional development—Act,\ns 58 (1) (a)\n(1) It is a condition of registration that a registered person satisfy the\nrelevant requirements for continuing professional development set\nout in the guideline under subsection (2) that applies to the person,\nwithin the period set out in the guideline.\n(2) The commissioner for fair trading may, in writing, make guidelines\nfor continuing professional development for registered people.\n(3) A guideline under subsection (2) is a notifiable instrument.\nNote A notifiable instrument must be notified under the Legislation Act.\n10AA Registration conditions—additional qualifications\nrequired after registration—Act, s 58 (1) (a)\n(1) It is a condition of registration that a registered assistant property\nagent must—\n(a) complete an additional qualification declared by the\ncommissioner for fair trading, that applies to the agent, within\nthe period set out in the declaration; or\n(b) complete, or have completed, a qualification that the\ncommissioner for fair trading is satisfied is higher than,\nequivalent to or substantially equivalent to the additional\nqualification declared under paragraph (a).\n(2) A declaration is a disallowable instrument.\n\nRegistration Part 3\nSection 11\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 7\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(3) In this section:\ncomplete an additional qualification—a registered assistant property\nagent completes an additional qualification if a registered training\norganisation issues the agent with a statement of attainment or\nqualification, confirming that the agent has satisfied the requirements\nof the additional qualification.\n","sortOrder":7},{"sectionNumber":"11","sectionType":"section","heading":"Renewal of registrations—Act, s 60 (3) (b)","content":"11 Renewal of registrations—Act, s 60 (3) (b)\nThe following requirements are prescribed:\n(a) the applicant has not contravened any condition of the\nregistration;\n(b) the applicant has not contravened any other condition put on the\nregistration under the Act, section 58.\nExample for par (a)\nthe person has successfully completed any requirements for professional\ndevelopment stated as a condition of registration\n\nPart 4 Conduct of licensed agents and registered assistant property agents\nDivision 4.1 Licensed agent’s main place of business\nSection 12\npage 8 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nPart 4 Conduct of licensed agents and\nregistered assistant property\nagents\nDivision 4.1 Licensed agent’s main place of\nbusiness\n12 Notice of change of main place of business—Act, s 68 (2)\nThe period in which the commissioner for fair trading must be told\nabout a change in the licensed agent’s main place of business is\n5 business days beginning on the day after the change.\nDivision 4.2 Management of licensed agent’s\nbusiness\n","sortOrder":8},{"sectionNumber":"13","sectionType":"section","heading":"Class 1 licensed property agent to be in charge of","content":"13 Class 1 licensed property agent to be in charge of\nbusiness—exemptions—Act, s 71 (3)\n(1) In deciding whether to exempt a person from the Act, section 68A\n(Licensed agent in charge to have class 1 property agent licence), or\namend or revoke an exemption, the commissioner for fair trading\nmust consider the following matters:\n(a) the reasons for the exemption;\n(b) the period of the exemption;\n(c) the person’s experience as a licensed property agent;\n(d) fiduciary safeguards and office systems established, or to be\nestablished, to provide for accountability to the licensed\nproperty agent in charge;\n(e) staffing and office management arrangements established, or to\nbe established, at the place of business;\n\nConduct of licensed agents and registered assistant property agents Part 4\nManagement of licensed agent’s business Division 4.2\nSection 13\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 9\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(f) the person’s record in relation to compliance with the Act or the\nrepealed Act, including compliance with any condition of a\nlicence or registration during the previous 5 years;\n(g) employer references (if any) in relation to the person’s\nexperience as a licensed property agent.\n(2) In deciding whether to exempt a class 1 licensed property agent from\nthe Act, section 69 (Property agent place of business to have class 1\nlicensed property agent in charge), or amend or revoke an exemption,\nthe commissioner for fair trading must consider the following\nmatters:\n(a) the reasons for the exemption;\n(b) the licensed property agent’s experience as a licensed property\nagent in charge at a place of business of a licensed property\nagent;\n(c) the licensed property agent’s capacity to properly supervise the\nconduct of business at more than 1 place of business;\n(d) office systems or arrangements established, or to be established,\nat each place of business;\n(e) staffing and office management arrangements at each place of\nbusiness;\n(f) whether there is a centralised trust account for the deposit of\ntrust money received in connection with the businesses for\nwhich the licensed property agent would be the licensed\nproperty agent in charge under the exemption;\n(g) the licensed property agent’s record in relation to compliance\nwith the Act or the repealed Act, including compliance with any\ncondition of a licence or registration during the previous 5 years;\n(h) employer references (if any) in relation to the licensed property\nagent’s experience as a licensed property agent in charge.\n\n","sortOrder":9},{"sectionNumber":"Part 4","sectionType":"part","heading":"Conduct of licensed agents and registered assistant property agents","content":"Part 4 Conduct of licensed agents and registered assistant property agents\nDivision 4.3 Land—further provisions\nSection 14\npage 10 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(3) In deciding whether to exempt a class 1 licensed property agent from\nthe Act, section 70 (Class 1 licensed property agent to be in charge of\n1 place of business), or amend or revoke an exemption, the\ncommissioner for fair trading must consider the following matters:\n(a) the reasons for the exemption;\n(b) the licensed property agent’s experience as a licensed property\nagent in charge at a place of business of a licensed property\nagent;\n(c) the licensed property agent’s capacity to properly supervise the\nconduct of business of more than 1 licensed property agent;\n(d) fiduciary safeguards and office systems established, or to be\nestablished, to provide for accountability to the licensed\nproperty agent in charge;\n(e) whether separate trust accounts are in place for the deposit of\ntrust money received in connection with the business of each\nlicensed property agent for whom the licensed property agent\nwould act under the exemption;\n(f) the licensed property agent’s record in relation to compliance\nwith the Act or the repealed Act, including compliance with any\ncondition of a licence or registration during the previous 5 years;\n(g) employer references (if any) in relation to the licensed property\nagent’s experience as a licensed property agent in charge.\n","sortOrder":10},{"sectionNumber":"Div 4","sectionType":"division","heading":"3 Land—further provisions","content":"Division 4.3 Land—further provisions\n14 Agents giving financial and investment advice—Act, s 83\n(1) This section applies to financial or investment advice that—\n(a) is intended to influence the person to whom it is given in making\na particular financial or investment decision about the sale or\npurchase of land; or\n\nConduct of licensed agents and registered assistant property agents Part 4\nLand—further provisions Division 4.3\nSection 14\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 11\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(b) could reasonably be regarded as being intended to have that\ninfluence.\n(2) A real estate agent who gives the advice must give the following\ninformation or warning:\n(a) a warning that the advice is general advice only and that its\npreparation has not taken into account the individual\ncircumstances of the person;\n(b) for advice given about the purchase of land—a warning that an\nintending purchaser should assess the suitability of any\ninvestment in the property in the light of their own needs and\ncircumstances, and that they can do this themselves or by\nconsulting an appropriately licensed financial adviser;\n(c) information that discloses the existence and nature of any\nconflict of interest the agent may have in relation to the giving\nof the advice.\nExample for par (c)\nan entitlement to commission or referral fees\n\nPart 5 Agency agreements\nSection 15\npage 12 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n","sortOrder":11},{"sectionNumber":"Part 5","sectionType":"part","heading":"Agency agreements","content":"Part 5 Agency agreements\n15 Content of agency agreements—Act, s 100 (1) (c)\n(1) An agency agreement must comply with schedules 3 to 7.\n(2) The schedules apply as follows:\n(a) schedule 3 applies to all agency agreements (in addition to any\nother schedule that may apply to the agreement);\n(b) schedule 4 applies to an agency agreement under which the\nagent will act for the seller on the sale of residential property;\n(c) schedule 5 applies to an agency agreement under which the\nagent will act for the buyer on the purchase of land;\n(d) schedule 6 applies to an agency agreement under which the\nagent will act for the seller on the sale of rural land;\n(e) schedule 7 applies to an agency agreement under which the\nagent will act for the seller on the sale of a business or\nprofessional practice.\n(3) A reference in schedules 3 to 7 to property (other than as a reference\nto residential property) includes a reference to land.\n(4) An agency agreement must not contain anything inconsistent with the\nrequirements of this part, but this section does not otherwise limit the\nterms that an agency agreement may contain.\n\nMiscellaneous Part 6\nSection 17\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 13\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n","sortOrder":12},{"sectionNumber":"Part 6","sectionType":"part","heading":"Miscellaneous","content":"Part 6 Miscellaneous\n17 Rules of conduct for licensed agents—Act, s 171 (1)\n(1) Schedule 8 sets out the rules of conduct to be observed by licensed\nagents and registered assistant property agents.\n(2) Schedule 8 applies as follows:\n(a) part 8.2 applies to all licensed agents and registered assistant\nproperty agents (in addition to any other schedule applicable to\na particular kind of licensed agent or registered assistant\nproperty agent);\n(b) part 8.3 applies to licensed real estate agents and registered\nassistant real estate agents they employ;\n(c) part 8.4 applies to licensed stock and station agents and\nregistered assistant stock and station agents they employ;\n(d) part 8.5 applies to licensed business agents and registered\nassistant business agents they employ.\n","sortOrder":13},{"sectionNumber":"18","sectionType":"section","heading":"Rules of conduct for licensed land auctioneers—Act,","content":"18 Rules of conduct for licensed land auctioneers—Act,\ns 171 (1)\nA licensed land auctioneer who advertises an auction must include\nthe auctioneer’s name and licence number in the advertisement.\n\nSchedule 3 Terms applying to all agency agreements\nSection 3.1\npage 14 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nSchedule 3 Terms applying to all agency\nagreements\n(see s 15)\n3.1 Identification of property\n(1) The agreement must state the address of the property to which the\nagreement applies or must contain a description of the property that\nclearly identifies it.\n(2) This section does not apply to an agency agreement to act for the\nbuyer of land.\n3.2 Names of parties to agreement\nThe agreement must state the names of each of the parties to the\nagreement (including the licensee).\n3.3 Information identifying parties\nThe agreement must state the principal’s address, the licensee’s\nlicence number and any business name under which the licensee\nconducts business.\n3.4 Principal’s authority to enter into agreement\nThe agreement must contain a statement to the effect that the principal\nwarrants that the principal has authority to enter into the agreement.\n3.5 Authorisation for licensee to act on behalf of principal\nThe agreement must contain a term stating particulars of the extent of\nthe authority of the licensee to act as agent on behalf of the principal\nin providing services under the agreement.\n\nTerms applying to all agency agreements Schedule 3\nSection 3.6\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 15\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n3.6 Duration of the agreement\nThe agreement must contain a term stating the period for which the\nagreement remains in force or stating that the agreement remains in\nforce until terminated.\n3.7 Termination of the agreement\nIf the agreement provides for its termination by a party to the\nagreement, the agreement must state how and when it can be\nterminated.\n3.8 Reimbursement of licensee\nIf the licensee is to be entitled to any sum or reimbursement for\nexpenses or charges incurred by the licensee in relation to services\nprovided under the agency agreement, the agreement must include a\nterm that:\n(a) states that the licensee is so entitled; and\n(b) describes the services; and\n(c) states the amount that the licensee is entitled to and when it is\npayable; and\n(d) states that the services and amounts can be varied only with the\nagreement in writing of the principal.\n3.9 Remuneration\n(1) The agreement must include a term stating—\n(a) the circumstances in which the licensee is entitled to\nremuneration (by way of commission or otherwise) for services\nperformed under the agreement; and\n(b) the amount of the remuneration or how it is to be worked out;\nand\n(c) when the remuneration is payable.\n\n","sortOrder":14},{"sectionNumber":"Sch 3","sectionType":"schedule","heading":"Terms applying to all agency agreements","content":"Schedule 3 Terms applying to all agency agreements\nSection 3.9\npage 16 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(2) If the agreement relates to the sale or purchase of residential property\nand provides for payment of commission to the agent worked out as\na percentage of the sale or purchase price, the term must also state the\namount of the remuneration to which the licensee will be entitled\nworked out on the basis of a stated estimated sale or purchase price\nfor the property.\n\nTerms specific to agency agreements for sale of residential property Schedule 4\nSection 4.1\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 17\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nSchedule 4 Terms specific to agency\nagreements for sale of\nresidential property\n(see s 15)\n4.1 Exclusive agency and sole agency agreements\n(1) If the agency agreement is an exclusive agency agreement the\nagreement must include the following statement:\nIMPORTANT: This is an exclusive agency agreement.\nThis means you may have to pay the agent commission\neven if another agent (or you) sells the property or\nintroduces a buyer who later buys the property.\n(2) If the agency agreement is a sole agency agreement the agreement\nmust include the following statement:\nIMPORTANT: This is a sole agency agreement. This\nmeans you may have to pay the agent commission even if\nanother agent sells the property or introduces a buyer who\nlater buys the property.\n(3) An agency agreement is an exclusive agency agreement if the\nagreement provides for the agent to be entitled to commission on the\nhappening of an event whether or not the agent or the client, or both,\nis or are the effective cause of the happening of the event.\n(4) An agency agreement is a sole agency agreement if the agreement\nprovides for the agent to be entitled to commission on the happening\nof an event (whether or not the agent is the effective cause of the\nhappening of the event) unless the client is the effective cause of the\nhappening of the event.\n(5) The statement under subsection (1) or (2) must follow immediately\nafter the term required by schedule 3, section 3.9 (Remuneration) and\nbe no less prominent than that term.\n\n","sortOrder":15},{"sectionNumber":"Sch 4","sectionType":"schedule","heading":"Terms specific to agency agreements for sale of residential property","content":"Schedule 4 Terms specific to agency agreements for sale of residential property\nSection 4.2\npage 18 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n4.2 Warning about other agency agreements\n(1) The agency agreement must include the following statement:\nWARNING: Have you signed an agency agreement for\nthe sale of this property with another agent? If you have\nyou may have to pay 2 commissions (if this agreement or\nthe other agreement you have signed is a sole or exclusive\nagency agreement).\n(2) The warning statement under subsection (1) must follow immediately\nafter the term required by schedule 3, section 3.9 (Remuneration) and\nbe no less prominent than that term.\n4.3 Fixed term agency agreements\n(1) If the agreement is for a fixed term that is longer than 90 days, the\nagreement must include a term that entitles the principal to end the\nagreement (without penalty) by giving 30 days written notice to the\nagent at any time after the end of the first 90 days of the term.\n(2) This section does not apply to an agency agreement in relation to the\nsale of residential property if the contract for sale provides for the\nconstruction by the seller of a dwelling on the land.\n4.4 Price at which property is to be offered\nIf the agreement provides for the property to be offered for sale by\nprivate treaty, the agreement must state the price at which the property\nis to be offered.\n4.5 Sales inspection report to form part of agreement\nThe agreement must include a copy of any sales inspection report\nprepared by the agent and given to the principal under schedule 8,\nsection 8.21 (Sales inspection report required for property).\n\nTerms specific to a buyers agent agency agreements Schedule 5\nSection 5.1\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 19\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n","sortOrder":16},{"sectionNumber":"Sch 5","sectionType":"schedule","heading":"Terms specific to a buyers","content":"Schedule 5 Terms specific to a buyers\nagent agency agreements\n(see s 15)\n5.1 Property details\nThe agreement must include a copy of the statement prepared and\ngiven to the principal by the agent for schedule 8, section 8.26\n(Statement of property details).\n5.2 Purchase price range\nThe agreement must state a price or price range as the maximum price\nor the price range that the principal is prepared to pay for a property.\n\nSchedule 6 Terms specific to agency agreements for sale of rural land\nSection 6.1\npage 20 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n","sortOrder":17},{"sectionNumber":"Sch 6","sectionType":"schedule","heading":"Terms specific to agency","content":"Schedule 6 Terms specific to agency\nagreements for sale of rural\nland\n(see s 15)\n6.1 Exclusive agency and sole agency agreements\n(1) If the agency agreement is an exclusive agency agreement the\nagreement must include the following statement:\nIMPORTANT: This is an exclusive agency agreement.\nThis means you may have to pay the agent commission\neven if another agent (or you) sells the property or\nintroduces a buyer who later buys the property.\n(2) If the agency agreement is a sole agency agreement the agreement\nmust include the following statement:\nIMPORTANT: This is a sole agency agreement. This\nmeans you may have to pay the agent commission even if\nanother agent sells the property or introduces a buyer who\nlater buys the property.\n(3) An agency agreement is an exclusive agency agreement if the\nagreement provides for the agent to be entitled to commission on the\nhappening of an event whether or not the agent or the client, or both,\nis or are the effective cause of the happening of the event.\n(4) An agency agreement is a sole agency agreement if the agreement\nprovides for the agent to be entitled to commission on the happening\nof an event (whether or not the agent is the effective cause of the\nhappening of the event) unless the client is the effective cause of the\nhappening of the event.\n(5) The statement under subsection (1) or (2) must follow immediately\nafter the term required by schedule 3, section 3.9 (Remuneration) and\nbe no less prominent than that term.\n\nTerms specific to agency agreements for sale of rural land Schedule 6\nSection 6.2\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 21\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n6.2 Warning about other agency agreements\n(1) The agency agreement must include the following statement:\nWARNING: Have you signed an agency agreement for\nthe sale of this property with another agent? If you have\nyou may have to pay 2 commissions (if this agreement or\nthe other agreement you have signed is a sole or exclusive\nagency agreement).\n(2) The warning statement under subsection (1) must follow immediately\nafter the term required by schedule 3, section 3.9 (Remuneration) and\nbe no less prominent than that term.\n6.3 Price at which property is to be offered\nIf the agreement provides for the property to be offered for sale by\nprivate treaty, the agreement must state the price at which the property\nis to be offered.\n6.4 Sales inspection report to form part of agreement\nThe agreement must include a copy of any sales inspection report\nprepared by the agent and given to the principal under schedule 8,\nsection 8.21 (Sales inspection report required for property).\n\nSchedule 7 Terms specific to agency agreements for sale of business\nSection 7.1\npage 22 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nSchedule 7 Terms specific to agency\nagreements for sale of\nbusiness\n(see s 15)\n7.1 Meaning of business in sch 7\nIn this schedule:\nbusiness includes professional practice.\n7.2 Exclusive agency and sole agency agreements\n(1) If the agency agreement is an exclusive agency agreement the\nagreement must include the following statement:\nIMPORTANT: This is an exclusive agency agreement.\nThis means you may have to pay the agent commission\neven if another agent (or you) sells the business or\nintroduces a buyer who later buys the business.\n(2) If the agency agreement is a sole agency agreement the agreement\nmust include the following statement:\nIMPORTANT: This is a sole agency agreement. This\nmeans you may have to pay the agent commission even if\nanother agent sells the business or introduces a buyer who\nlater buys the business.\n(3) An agency agreement is an exclusive agency agreement if the\nagreement provides for the agent to be entitled to commission on the\nhappening of an event whether or not the agent or the client, or both,\nis or are the effective cause of the happening of the event.\n\nTerms specific to agency agreements for sale of business Schedule 7\nSection 7.3\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 23\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(4) An agency agreement is a sole agency agreement if the agreement\nprovides for the agent to be entitled to commission on the happening\nof an event (whether or not the agent is the effective cause of the\nhappening of the event) unless the client is the effective cause of the\nhappening of the event.\n(5) The statement under subsection (1) or (2) must follow immediately\nafter the term required by schedule 3, section 3.9 (Remuneration) and\nbe no less prominent than that term.\n7.3 Warning about other agency agreements\n(1) The agency agreement must include the following statement:\nWARNING: Have you signed an agency agreement for\nthe sale of this business with another agent? If you have\nyou may have to pay 2 commissions (if this agreement or\nthe other agreement you have signed is a sole or exclusive\nagency agreement).\n(2) The warning statement under subsection (1) must follow immediately\nafter the term required by schedule 3, section 3.9 (Remuneration) and\nbe no less prominent than that term.\n7.4 Transfer of liability for the leasing or hire purchase of\ninclusions\nThe agreement must include any written confirmation prepared for\nschedule 8, section 8.60 of any specific instructions given to the agent\nby the principal before the agreement is entered into about\narrangements for the transfer to the purchaser of any liability for the\nleasing or hire purchase of goodwill, plant, fittings or stock in\ninventory included in the sale.\n\n","sortOrder":18},{"sectionNumber":"Sch 7","sectionType":"schedule","heading":"Terms specific to agency agreements for sale of business","content":"Schedule 7 Terms specific to agency agreements for sale of business\nSection 7.5\npage 24 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n7.5 Specific instructions about marketing and inspections\nThe agreement must include any written confirmation prepared for\nschedule 8, section 8.60 of any stated instructions given to the agent\nby the principal before the agreement is entered into about any of the\nfollowing:\n(a) the marketing of the business;\n(b) the entitlement of prospective purchasers to inspect the premises\nof the business and the circumstances under which the\ninspection can be made;\n(c) the entitlement of prospective purchasers to inspect records,\nbooks of account and other documents about the business and\nthe circumstances under which the inspection can be made.\n\nRules of conduct Schedule 8\nInterpretation Part 8.1\nSection 8.1\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 25\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nSchedule 8 Rules of conduct\n(see s 17)\nPart 8.1 Interpretation\n8.1 Definitions—sch 8\nIn this schedule:\nagent includes a registered assistant property agent.\nproperty manager means—\n(a) for part 8.2 (General rules applying to all licensed agents and\nregistered assistant property agents)—a person employed by an\nagent in relation to the management of property to which\ndivision 8.3.3 or division 8.4.2 applies; and\n(b) for division 8.3.3 (Property management—real estate agents)—\na person employed by an agent in relation to the management of\nproperty to which the division applies; and\n(c) for division 8.4.2 (Property management—stock and station\nagents)—a person employed by an agent in relation to the\nmanagement of property to which the division applies.\nregistered assistant property agent includes a property manager.\n\nSchedule 8 Rules of conduct\nPart 8.2 General rules applying to all licensed agents and registered assistant\nproperty agents\nSection 8.2\npage 26 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nPart 8.2 General rules applying to all\nlicensed agents and registered\nassistant property agents\n8.2 Knowledge of Act and other laws\nAn agent must have a knowledge and understanding of the Act, and\nany other laws relevant to the kind and class of licence or kind of\nregistration held (including, laws relating to residential tenancy, fair\ntrading, trade practices, anti-discrimination and privacy) that may be\nnecessary to allow the agent to lawfully exercise their functions as\nagent.\nNote A reference to an Act includes a reference to the statutory instruments\nmade or in force under the Act, including any regulation (see Legislation\nAct, s 104).\n8.3 Fiduciary obligations\nAn agent must comply with the fiduciary obligations arising as an\nagent.\n8.4 Honesty, fairness and professionalism\n(1) An agent must act honestly, fairly and professionally with all parties\nin a transaction.\n(2) An agent must not mislead or deceive any parties in negotiations or a\ntransaction.\n8.5 Skill, care and diligence\nAn agent must exercise reasonable skill, care and diligence.\n8.6 High pressure tactics, harassment or unconscionable\nconduct\nAn agent must not engage in high pressure tactics, harassment or\nharsh or unconscionable conduct.\n\nRules of conduct Schedule 8\nGeneral rules applying to all licensed agents and registered assistant\nproperty agents\nPart 8.2\nSection 8.7\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 27\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n8.7 To act in client’s best interests\nAn agent must act in the client’s best interest at all times unless it\nwould be contrary to the Act or otherwise unlawful to do so.\nNote A reference to an Act includes a reference to the statutory instruments\nmade or in force under the Act, including any regulation (see Legislation\nAct, s 104).\n8.8 Confidentiality\nAn agent must not, at any time, use or disclose any confidential\ninformation obtained while acting on behalf of a client or dealing with\na customer, unless—\n(a) the client or customer consents to the disclosure; or\n(b) the agent is permitted or compelled by law to disclose the\ninformation.\n8.9 To act in accordance with client authority\nAn agent must not act as an agent or represent themself as acting as\nan agent on behalf of a person without the written consent of the\nperson.\n8.10 To act in accordance with client’s instructions\nAn agent must act in accordance with a client’s instructions unless it\nwould be contrary to the Act or otherwise unlawful to do so.\nNote A reference to an Act includes a reference to the statutory instruments\nmade or in force under the Act, including any regulation (see Legislation\nAct, s 104).\n\nSchedule 8 Rules of conduct\nPart 8.2 General rules applying to all licensed agents and registered assistant\nproperty agents\nSection 8.11\npage 28 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n8.11 Licensee must ensure employees comply with the Act\nAn agent who is the licensee-in-charge at a place of business of a\nlicensee must take reasonable steps to ensure other licensees or\nregistered persons employed in the business conducted there comply\nwith the Act.\nNote A reference to an Act includes a reference to the statutory instruments\nmade or in force under the Act, including any regulation (see Legislation\nAct, s 104).\n8.12 Conflicts of interest\nAn agent must not accept an appointment to act, or continue to act, as\nan agent if doing so would place the agent’s interests in conflict with\nthe client’s interests.\n8.13 Referral to service provider\n(1) An agent who refers a principal or prospective buyer to a service\nprovider must not falsely represent to the principal or prospective\nbuyer that the service provider is independent of the agent.\n(2) A service provider is considered to be independent of an agent if—\n(a) the agent receives no rebate, discount, commission or benefit for\nreferring a client or customer to the service provider; and\n(b) the agent does not have a personal or commercial relationship\nwith the service provider.\nExamples of personal or commercial relationship\n1 a family relationship\n2 a business relationship\n3 a fiduciary relationship\n4 a relationship in which 1 person is accustomed, or obliged, to act in accordance\nwith the directions, instructions or wishes of the other person\n\nRules of conduct Schedule 8\nGeneral rules applying to all licensed agents and registered assistant\nproperty agents\nPart 8.2\nSection 8.14\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 29\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(3) If the service provider is not independent of the agent, the agent must\ndisclose to the principal or prospective buyer—\n(a) the nature of any relationship, whether personal or commercial,\nthe agent has with the service provider; and\n(b) the nature and value of any rebate, discount, commission or\nbenefit the agent may receive, or expects to receive, by referring\nthe client or customer to the service provider.\n8.14 Licensee not to recommend engagement of services of\nsolicitor acting for other party\nAn agent must not recommend that a principal or prospective buyer\nengage the services of a solicitor or firm of solicitors, if the agent\nknows that the solicitor or the firm of solicitors acts or will be acting\nfor the other party to the agreement concerned.\n8.15 Inducements\nAn agent must not offer to provide to any other person any gift, favour\nor benefit, whether monetary or otherwise, to induce any other person\nto engage the services of the agent as agent in relation to any matter.\n8.16 Soliciting through false or misleading advertisements or\ncommunications\nAn agent must not solicit clients or customers by advertisement or\nother communication that the agent knows or should know are false\nor misleading.\n8.17 Insertion of material particulars in documents\nAn agent must not give or tender to any person for signature a\ndocument, unless at the time of giving or tendering of the document\nall material particulars have been inserted in the document.\n\nSchedule 8 Rules of conduct\nPart 8.2 General rules applying to all licensed agents and registered assistant\nproperty agents\nSection 8.18\npage 30 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n8.18 Representations about Act\n(1) An agent must not falsely represent to a person the nature or effect of\na provision of the Act.\n(2) An agent must not, either expressly or impliedly, falsely represent,\nwhether in writing or otherwise, to a person that a particular form of\nagency agreement or any term of the agreement is required by the\nAct.\nNote A reference to an Act includes a reference to the statutory instruments\nmade or in force under the Act, including any regulation (see Legislation\nAct, s 104).\n8.19 Agency agreements must comply with regulation\n(1) An agent must not enter into an agency agreement unless the\nagreement complies with any applicable requirements of this\nregulation, as required by the Act, section 100 (No commission or\nexpenses without agency agreement).\n(2) In this section:\nagent does not include a registered assistant property agent.\nNote A registered assistant property agent includes a property manager (see\ns 8.1).\n\nRules of conduct Schedule 8\nRules specific to licensed real estate agents and registered assistant real\nestate agents\nPart 8.3\nSales Division 8.3.1\nSection 8.20\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 31\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nPart 8.3 Rules specific to licensed real\nestate agents and registered\nassistant real estate agents\nDivision 8.3.1 Sales\n8.20 Preliminary physical inspection of property for sale to be\nconducted by agent\nAn agent must not act on behalf of a principal in relation to the sale\nof a property unless the agent has conducted a preliminary physical\ninspection of the property.\n8.21 Sales inspection report required for property\n(1) On completion of the inspection required by section 8.20, an agent\nmust prepare and give to the principal a sales inspection report for the\nproperty.\n(2) The report must be signed by the agent and state the following:\n(a) the principal’s name and address;\n(b) the date of preparation of the report;\n(c) the agent’s name, business address and telephone number;\n(d) a description of the property, including the address of the\nproperty and any other details that may be necessary to enable\nthe property to be readily identified;\n(e) a description of any fittings and fixtures that are to be included\nin the sale of the property;\n(f) any terms and conditions of sale known to the agent (for\nexample, whether or not vacant possession is to be given);\n(g) the agent’s recommendation about the most suitable method of\nsale of the property;\n\nSchedule 8 Rules of conduct\nPart 8.3 Rules specific to licensed real estate agents and registered assistant\nreal estate agents\nDivision 8.3.1 Sales\nSection 8.22\npage 32 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(h) the agent’s estimate of the selling price (or price range) for the\nproperty;\n(i) details of any covenants, easements, defects, government\nnotices or orders affecting the property that are known to the\nagent;\n(j) details of any special instructions about the marketing and\nshowing of the property;\n(k) the name, business address, telephone number and address for\nservice of documents of the principal’s solicitor.\n8.22 Principal to be informed of an offer\n(1) The agent must tell the principal of all offers of purchase of a property\nas soon as practicable after receiving the offer until the exchange of\ncontracts for the purchase of the property takes place.\n(2) The agent must tell the principal orally or in writing of each offer and\nmust identify the party who made the offer.\n(3) However, if the principal has instructed the agent in writing not to tell\nthe principal of an offer, the agent must tell the person who made the\noffer that the principal will not be told about the offer.\n(4) This section does not apply to bids made in the course of an auction.\n8.23 Information to be given when expression of interest\ndeposit paid\n(1) When the principal pays an expression of interest deposit (deposit) in\nrelation to the proposed purchase of a property before exchange of\ncontracts for the property, the agent must tell the principal that the\nvendor has no obligation to sell the property or the purchaser to buy\nthe property.\n(2) The deposit is refundable if a contract for the sale of the property is\nnot entered into.\n\nRules of conduct Schedule 8\nRules specific to licensed real estate agents and registered assistant real\nestate agents\nPart 8.3\nBuyers agents Division 8.3.2\nSection 8.24\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 33\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(3) The information—\n(a) must be in writing; and\n(b) may be given on the receipt issued by the vendor or their agent.\n(4) An agent must promptly tell the principal when the agent becomes\naware of any subsequent offers to purchase the property.\n8.24 Notifying managing agent of appointment to sell\nresidential property\nIf an agent accepts an appointment to sell residential property that is\ntenanted, the agent must immediately give written notice of the\nappointment to any agent responsible for managing the property.\n8.25 Licensee must not accept payment for a referral\nAn agent must not demand or accept a fee or other valuable\nconsideration for referring the principal to a buyer’s agent.\nDivision 8.3.2 Buyers agents\n8.26 Statement of property details\n(1) When entering into an agency agreement with a principal to act as\nbuyer’s agent for the principal, an agent must prepare and give the\nprincipal a statement of property details.\n(2) The statement must be signed by the agent and state the following:\n(a) details known to the agent of the type of property to be\npurchased;\n\nSchedule 8 Rules of conduct\nPart 8.3 Rules specific to licensed real estate agents and registered assistant real\nestate agents\nDivision 8.3.2 Buyers agents\nSection 8.27\npage 34 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(b) details of any special instructions about the property to be\npurchased (for example, for a rented property, an instruction that\nvacant possession is required).\nNote These details can be changed by agreement between the parties or as\nprovided by the agency agreement.\n8.27 Principal to be informed of negotiations\n(1) The agent must keep the principal informed of each stage of the\nnegotiation of a purchase price, as instructed by the principal.\n(2) This section does not apply to bids made in the course of an auction.\n8.28 Licensee to obtain best possible purchase price\nAn agent is to use the agent’s best efforts to get the best possible\npurchase price, without breaching standards of ethical conduct or\nengaging in conduct that is contrary to good agency practice.\n8.29 Licensee not to exceed agreed purchase price in\nnegotiations or at auction\n(1) In negotiations for the purchase of a property, the agent must not\nexceed the maximum or agreed price fixed by the principal without\nthe express written consent of the principal or a person authorised by\nthe principal.\n(2) When the bidding at an auction exceeds the maximum or agreed price\nfixed by the principal, the agent must not continue bidding without\nthe express consent of the principal or a person authorised by the\nprincipal.\n\nRules of conduct Schedule 8\nRules specific to licensed real estate agents and registered assistant real\nestate agents\nPart 8.3\nProperty management—real estate agents Division 8.3.3\nSection 8.30\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 35\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n8.30 Information to be given when expression of interest\ndeposit paid\n(1) When the principal pays an expression of interest deposit (deposit) in\nrelation to the proposed purchase of a property before exchange of\ncontracts for the property, the agent must tell the principal that the\nvendor has no obligation to sell the property or the purchaser to buy\nthe property.\n(2) The deposit is refundable if a contract for the sale of the property is\nnot entered into.\n(3) The information—\n(a) must be in writing; and\n(b) may be given on the receipt issued by the vendor or their agent.\n(4) An agent must promptly tell the principal when the agent becomes\naware of any subsequent offers to purchase the property.\n8.31 Licensee must not accept payment for a referral\nAn agent must not demand or accept a fee or other valuable\nconsideration for referring the principal to a selling agent.\nDivision 8.3.3 Property management—real estate\nagents\n8.32 Inspection report\n(1) An agent must, as soon as practicable after entering into an agency\nagreement in relation to the management of property, prepare and\ngive to the principal an inspection report for the property.\n(2) The inspection report must be signed by the licensee and include the\nfollowing:\n(a) the name and address of the principal;\n(b) the address of the property;\n\nSchedule 8 Rules of conduct\nPart 8.3 Rules specific to licensed real estate agents and registered assistant real\nestate agents\nDivision 8.3.3 Property management—real estate agents\nSection 8.33\npage 36 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(c) the date of preparation of the report;\n(d) the licensee’s name, licence number and business address;\n(e) a description of the exterior and interior condition of the\nproperty, including fittings, fixtures, improvements and\nanything provided with the property;\n(f) details of any work still to be completed by the principal on the\nproperty.\n8.33 Inspection of property for rent\n(1) An agent must accompany a prospective tenant on an inspection of\nthe property.\n(2) An agent must not give the keys to a property to a prospective tenant,\neven for a short time.\n(3) Subsections (1) and (2) do not apply if the principal, and, if the\nproperty is currently let, the tenant, have otherwise consented in\nwriting.\n8.34 Maintenance or repairs of rental property\n(1) An agent managing a rental property must promptly respond to and,\nsubject to the principal’s instructions, attend to all requests by a\ntenant, for maintenance of, or repairs to, the property.\n(2) If the principal has given an instruction that a repair not be carried\nout, the agent must tell the principal if the principal’s failure to carry\nout the repair would constitute a breach of any tenancy agreement in\nforce in relation to the property.\n8.35 Breach of tenancy agreement\nAn agent managing a rental property must immediately tell the\nprincipal in writing if the agent becomes aware of a tenant’s breach\nof the tenancy agreement.\n\nRules of conduct Schedule 8\nRules specific to licensed real estate agents and registered assistant real\nestate agents\nPart 8.3\nProperty management—real estate agents Division 8.3.3\nSection 8.36\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 37\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n8.36 Notifying tenant of appointment to sell\n(1) This section applies if an agent managing a rental property is aware\nthat—\n(a) the property is listed for sale; or\n(b) a real estate agent has been appointed to act on the sale of the\nproperty.\n(2) The agent must immediately give the tenant written notice of—\n(a) the intended sale of the property; or\n(b) the appointment of the real estate agent for the sale of the\nproperty and the name and contact details of the agent.\n8.37 Final inspection of property\nAn agent must take all reasonable steps to ensure that any final\ninspection of the property, on vacation of the property, is conducted\nin the presence of the tenant, unless otherwise authorised by the\ntenant.\nExample of reasonable steps\nReasonable steps by an agent would consist of contacting the tenant to discuss\nsuitable times for the inspection, arranging to meet at a particular time and place\nand proceeding to meet the tenant at the arranged time and place.\n8.38 Obtaining tenant’s signature for rental bond refund\nAn agent must not solicit or obtain the signature of a tenant to any\ndocument relating to the refund of a rental bond before the\ntermination of the tenancy, unless the document directs that the bond\nbe repaid in full to the tenant or transferred to another tenancy in\naccordance with the tenant’s directions.\n\nSchedule 8 Rules of conduct\nPart 8.3 Rules specific to licensed real estate agents and registered assistant real\nestate agents\nDivision 8.3.3 Property management—real estate agents\nSection 8.39\npage 38 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n8.39 Cooperation about records, access and transfer\n(1) This section applies if an agent—\n(a) is acting on behalf of a principal in the management of property;\nand\n(b) is advised by another agent that the other agent (the new agent)\nhas been engaged to act on behalf of that principal in the\nmanagement of that property.\n(2) The agent must cooperate with the new agent in relation to access to\nthe records of the principal, including but not limited to—\n(a) making the records reasonably available (according to law); and\n(b) facilitating the transfer of management functions between the\nagent and the new agent.\n8.40 Disclosure of potential agency\n(1) This section applies if an agent—\n(a) intends to act (or offers to act) for a principal in the management\nof property; and\n(b) is aware that another agent is or other agents are managing that\nproperty for the principal.\n(2) Unless the principal otherwise directs in writing, the agent must\ndisclose their intention to act (or offer to act) to the current agent or\nagents.\n8.41 Confirmation of specific instructions—property\nmanagement services\n(1) This section applies to an agent before or when entering into an\nagency agreement under which the agent will provide property\nmanagement services in relation to the leasing of residential property\nor rural land.\n\nRules of conduct Schedule 8\nRules specific to licensed real estate agents and registered assistant real\nestate agents\nPart 8.3\nProperty management—real estate agents Division 8.3.3\nSection 8.41\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 39\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(2) The agent must prepare for inclusion in the agency agreement written\nconfirmation of the extent of the agent’s authority to undertake the\nfollowing duties in relation to the management of the property and\nany limitations on the agent’s authority to undertake those duties:\n(a) obtaining references from prospective tenants, arranging\ninspections of the property by prospective tenants and choosing\na tenant;\n(b) entering into and signing a tenancy agreement (specifying the\nterm for which the property may be let);\n(c) undertaking inspections of the property;\n(d) effecting repairs to and maintaining the property or engaging\ntradespersons to do so and limitations on expenditure that may\nbe incurred by the agent without obtaining the principal’s\napproval;\n(e) paying disbursements and expenses incurred in relation to the\nagent’s management of the property;\n(f) collecting rent;\n(g) receiving, claiming and disbursing rental bond money;\n(h) serving notices for breach of the tenancy agreement or to\nterminate the tenancy agreement;\n(i) undertaking the necessary steps to obtain vacant possession and\nrecover any money owing to the principal in relation to the\ntenancy of the property;\n(j) representing the principal in any tribunal or court proceedings in\nrelation to the tenancy of the property;\n(k) paying accounts for amounts owing in relation to the property\n(for example, water rates and charges, council rates,\nmaintenance expenses, and owners corporation levies);\n(l) advertising the property for letting or re-letting;\n\nSchedule 8 Rules of conduct\nPart 8.3 Rules specific to licensed real estate agents and registered assistant real\nestate agents\nDivision 8.3.3 Property management—real estate agents\nSection 8.42\npage 40 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(m) reviewing the rent at the end of a tenancy.\n(3) The written confirmation may be prepared and be included as part of\nthe agency agreement.\n8.42 Confirmation of specific instructions—leasing of property\n(1) This section applies to an agent before or when entering into an\nagency agreement under which the agent will act for the owner of\nresidential property or rural land in relation to the entering into a lease\nof the residential property or rural land.\n(2) The agent must prepare for inclusion in the agency agreement written\nconfirmation of the extent of the agent’s authority to undertake the\nfollowing duties in relation to the entering into of the lease and any\nlimitations on the agent’s authority to undertake those duties:\n(a) obtaining references from prospective tenants, arranging\ninspections of the property by prospective tenants and choosing\na tenant;\n(b) entering into and signing a tenancy agreement;\n(c) undertaking an initial inspection of the property;\n(d) collecting initial rent payment;\n(e) receiving and disbursing rental bond money;\n(f) advertising the property for letting.\n(3) The written confirmation may be prepared and be included as part of\nthe agency agreement.\n\nRules of conduct Schedule 8\nRules specific to licensed stock and station agents and registered\nassistant stock and station agents\nPart 8.4\nSales Division 8.4.1\nSection 8.43\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 41\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nPart 8.4 Rules specific to licensed stock\nand station agents and\nregistered assistant stock and\nstation agents\nDivision 8.4.1 Sales\n8.43 Preliminary physical inspection of property to be\nconducted by agent\n(1) An agent must not act on behalf of a principal in relation to the sale\nof any property, including livestock included in the sale, unless the\nagent has conducted a preliminary physical inspection of the\nproperty.\n(2) This section does not apply to a sale solely of livestock.\n8.44 Sales inspection report required for the property\n(1) On completion of the inspection required by section 8.43, an agent\nmust prepare and give to the principal a sales inspection report for the\nproperty.\n(2) The report must be signed by the agent and state the following:\n(a) the principal’s name and address;\n(b) the date of preparation of the report;\n(c) the agent’s name, business address and telephone number;\n(d) a description of the property, including the address of the\nproperty and any other details that may be necessary to enable\nthe property to be readily identified, and the size of the property\nin hectares;\n\nSchedule 8 Rules of conduct\nPart 8.4 Rules specific to licensed stock and station agents and registered\nassistant stock and station agents\nDivision 8.4.1 Sales\nSection 8.44\npage 42 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(e) a description of the services provided to the property (for\nexample, power, phone, airstrip, closest schools, mail service,\nclosest rail service);\n(f) information about the type of country (topography, soils, timber,\narable area, pasture development), water (irrigation, dams,\nrainfall) and production capacity;\n(g) a description of any fittings and fixtures that are to be included\nin the sale of the property;\n(h) a description of items included in the sale such as house, other\naccommodation, grain storage, woolshed, sheep or cattle yards\nor plant equipment;\n(i) a description of other items to be included in the sale, such as\nlivestock;\n(j) any terms and conditions of sale known to the agent (for\nexample, whether or not vacant possession is to be given);\n(k) the agent’s recommendation about the most suitable method of\nsale of the property;\n(l) the agent’s estimate of the selling price (or price range) for the\nproperty;\n(m) details of any covenants, easements, defects, local government\nnotices or orders affecting the property that are known to the\nagent;\n(n) details of any special instructions about the marketing and\nshowing of the property;\n\nRules of conduct Schedule 8\nRules specific to licensed stock and station agents and registered\nassistant stock and station agents\nPart 8.4\nProperty management—stock and station agents Division 8.4.2\nSection 8.45\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 43\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(o) the name, business address, telephone number and address for\nservice of documents of the principal’s solicitor.\n8.45 Principal to be informed of an offer\n(1) The agent must, tell the principal of all offers of purchase of a\nproperty as soon as practicable after receiving the offer up until\nexchange of contracts takes place.\n(2) However, if the principal has instructed the agent in writing not to tell\nthe principal of an offer, the agent must tell the person who made the\noffer that the principal will not be told about the offer.\n(3) The agent may tell the principal of an offer in writing and must\nidentify the party who made the offer.\n(4) If the principal is told orally, the agent must confirm the information\nin writing.\n(5) This section does not apply to bids made in the course of an auction.\n8.46 Agent must not accept payment for a referral\nAn agent must not demand or accept a fee or other valuable\nconsideration for referring the principal to a buyers agent.\nDivision 8.4.2 Property management—stock and\nstation agents\n8.47 Inspection report\n(1) An agent must, as soon as practicable after entering into an agency\nagreement in relation to the management of property, prepare and\ngive to the principal an inspection report for the property.\n(2) The inspection report must be signed by the licensee and state the\nfollowing:\n(a) the name and address of the principal;\n\nSchedule 8 Rules of conduct\nPart 8.4 Rules specific to licensed stock and station agents and registered\nassistant stock and station agents\nDivision 8.4.2 Property management—stock and station agents\nSection 8.48\npage 44 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(b) the address of the property;\n(c) the date of preparation of the report;\n(d) the licensee’s name, licence number and business address;\n(e) a description of the exterior and interior condition of the\nproperty, including fittings, fixtures, improvements and\nanything provided with the property;\n(f) details of any work still to be completed by the principal on the\nproperty.\n8.48 Inspection of property for rent\n(1) An agent must accompany a prospective tenant on an inspection of\nthe property.\n(2) An agent must not give the keys to a property to a prospective tenant,\neven for a short time.\n(3) Subsections (1) and (2) do not apply if the principal, and, if the\nproperty is currently let, the tenant, have otherwise consented in\nwriting.\n8.49 Maintenance or repairs of rental property\n(1) An agent managing a rental property must promptly respond to and,\nsubject to the principal’s instructions, attend to all requests by a\ntenant, for maintenance of, or repairs to, the property.\n(2) If the principal has given an instruction that a repair not be carried\nout, the agent must tell the principal if the principal’s failure to carry\nout the repair would constitute a breach of any tenancy agreement in\nforce in relation to the property.\n8.50 Breach of tenancy agreement\nAn agent managing a rental property must immediately notify the\nprincipal in writing if the agent becomes aware of a tenant’s breach\nof the tenancy agreement.\n\nRules of conduct Schedule 8\nRules specific to licensed stock and station agents and registered\nassistant stock and station agents\nPart 8.4\nProperty management—stock and station agents Division 8.4.2\nSection 8.51\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 45\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n8.51 Notifying tenant of appointment to sell\n(1) This section applies if an agent managing a rental property is aware\nthat—\n(a) the property is listed for sale; or\n(b) an agent has been appointed to act on the sale of the property.\n(2) The agent must immediately give the tenant written notice of—\n(a) the intended sale of the property; or\n(b) the appointment of the agent for the sale of the property and the\nname and contact details of the agent.\n8.52 Final inspection of property\nAn agent must take all reasonable steps to ensure that any final\ninspection of the property, on vacation of the property, is conducted\nin the presence of the tenant unless otherwise authorised by the tenant.\nExample of reasonable steps\nReasonable steps by an agent would consist of contacting the tenant to discuss\nsuitable times for the inspection, arranging to meet at a particular time and place\nand proceeding to meet the tenant at the arranged time and place.\n8.53 Cooperation about records, access and transfer\n(1) This section applies if an agent—\n(a) is acting on behalf of a principal in the management of property;\nand\n(b) is advised by another agent that the other agent (the new agent)\nhas been engaged to act on behalf of that principal in the\nmanagement of that property.\n(2) The agent must cooperate with the new agent in relation to access to\nthe records of the principal, including but not limited to—\n(a) making the records reasonably available (according to law); and\n\nSchedule 8 Rules of conduct\nPart 8.4 Rules specific to licensed stock and station agents and registered\nassistant stock and station agents\nDivision 8.4.2 Property management—stock and station agents\nSection 8.54\npage 46 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(b) facilitating the transfer of management functions between the\nagent and the new agent.\n8.54 Disclosure of potential agency\n(1) This section applies if an agent—\n(a) intends to act (or offers to act) for a principal in the management\nof property; and\n(b) is aware that another agent is or other agents are managing that\nproperty for the principal.\n(2) Unless the principal otherwise directs in writing, the agent must\ndisclose their intention to act (or offer to act) to the current agent or\nagents.\n8.55 Confirmation of specific instructions—property\nmanagement services\n(1) This section applies to an agent before or when entering into an\nagency agreement under which the agent will provide property\nmanagement services in relation to the leasing of residential property\nor rural land.\n(2) The agent must prepare for inclusion in the agency agreement written\nconfirmation of the extent of the agent’s authority to undertake the\nfollowing duties in relation to the management of the property and\nany limitations on the agent’s authority to undertake those duties:\n(a) obtaining references from prospective tenants, arranging\ninspections of the property by prospective tenants and choosing\na tenant;\n(b) entering into and signing a tenancy agreement (specifying the\nterm for which the property may be let);\n(c) undertaking inspections of the property;\n\nRules of conduct Schedule 8\nRules specific to licensed stock and station agents and registered\nassistant stock and station agents\nPart 8.4\nProperty management—stock and station agents Division 8.4.2\nSection 8.56\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 47\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(d) effecting repairs to and maintaining the property or engaging\ntradespersons to do so and limitations on expenditure that may\nbe incurred by the agent without obtaining the principal’s\napproval;\n(e) paying disbursements and expenses incurred in relation to the\nagent’s management of the property;\n(f) collecting rent;\n(g) receiving, claiming and disbursing rental bond money;\n(h) serving notices for breach of the tenancy agreement or to\nterminate the tenancy agreement;\n(i) undertaking the necessary steps to obtain vacant possession and\nrecover any money owing to the principal in relation to the\ntenancy of the property;\n(j) representing the principal in any tribunal or court proceedings in\nrelation to the tenancy of the property;\n(k) paying accounts for amounts owing in relation to the property\n(for example, water rates and charges, council rates,\nmaintenance expenses, and owners corporation levies);\n(l) advertising the property for letting or re-letting;\n(m) reviewing the rent at the end of a tenancy.\n(3) The written confirmation may be prepared and be included as part of\nthe agency agreement.\n8.56 Confirmation of specific instructions—leasing of property\n(1) This section applies to an agent before or when entering into an\nagency agreement under which the agent will act for the owner or\nresidential property or rural land in relation to the entering into a lease\nof the residential property or rural land.\n\nSchedule 8 Rules of conduct\nPart 8.4 Rules specific to licensed stock and station agents and registered\nassistant stock and station agents\n","sortOrder":19},{"sectionNumber":"Div 8","sectionType":"division","heading":"4.2 Property management—stock and station agents","content":"Division 8.4.2 Property management—stock and station agents\nSection 8.56\npage 48 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(2) The agent must prepare for inclusion in the agency agreement written\nconfirmation of the extent of the agent’s authority to undertake the\nfollowing duties in relation to the entering into of the lease and any\nlimitations on the agent’s authority to undertake those duties:\n(a) obtaining references from prospective tenants, arranging\ninspections of the property by prospective tenants and choosing\na tenant;\n(b) entering into and signing a tenancy agreement;\n(c) undertaking an initial inspection of the property;\n(d) collecting initial rent payment;\n(e) receiving and disbursing rental bond money;\n(f) advertising the property for letting.\n(3) The written confirmation may be prepared and be included as part of\nthe agency agreement.\n\nRules of conduct Schedule 8\nRules specific to licensed business agents and registered assistant\nbusiness agents\nPart 8.5\nSection 8.57\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 49\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nPart 8.5 Rules specific to licensed\nbusiness agents and registered\nassistant business agents\n8.57 Meaning of business in pt 8.5\nIn this part:\nbusiness includes professional practice.\n8.58 Preliminary physical inspection of business to be\nconducted by agent\nAn agent must not act on behalf of a principal in relation to the sale\nof a business unless the agent has conducted a preliminary physical\ninspection of the business.\n8.59 Sales inspection report required for business\n(1) On completion of the inspection required by section 8.58, an agent\nmust prepare and give to the principal a sales inspection report for the\nbusiness.\n(2) The report must be signed by the agent and state the following:\n(a) the principal’s name and address;\n(b) the date of preparation of the report;\n(c) the agent’s name, business address and telephone number;\n(d) a description of the business, including the address of the\nbusiness and any other details that may be necessary to enable\nthe business to be readily identified, the business name and its\nABN;\n(e) a description of inclusions to be included in the sale such as\ngoodwill, plant, fittings and stock in inventory, together with\ndetails of any encumbrances affecting those inclusions;\n\n","sortOrder":20},{"sectionNumber":"Sch 8","sectionType":"schedule","heading":"Rules of conduct","content":"Schedule 8 Rules of conduct\n","sortOrder":21},{"sectionNumber":"Part 8","sectionType":"part","heading":"5 Rules specific to licensed business agents and registered assistant","content":"Part 8.5 Rules specific to licensed business agents and registered assistant\nbusiness agents\nSection 8.60\npage 50 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(f) any terms and conditions of sale known to the agent;\n(g) the agent’s recommendation about the most suitable method of\nsale of the business;\n(h) the agent’s estimate of the selling price (or price range) for the\nbusiness;\n(i) details of any defects, government notices or orders affecting the\nbusiness that are known to the agent.\n8.60 Confirmation of specific instructions\n(1) Before, or at the time of, entering into an agency agreement under\nwhich the agent will act for the seller on the sale of a business, the\nagent must prepare for inclusion in the agency agreement written\nconfirmation of any specific instructions given to the agent by the\nprincipal before the agreement is entered into about any of the\nfollowing:\n(a) arrangements for the transfer to the purchaser of any liability for\nthe leasing or hire purchase of goodwill, plant, fittings or stock\nin inventory included in the sale;\n(b) the marketing of the business;\n(c) the entitlement of prospective purchasers to inspect the premises\nof the business and the circumstances under which an inspection\ncan be made;\n(d) the entitlement of prospective purchasers to inspect records,\nbooks of account and other documents about the business and\nthe circumstances under which the inspection can be made.\n(2) The written confirmation may be prepared and be included as part of\nthe agency agreement.\n\nRules of conduct Schedule 8\nRules specific to licensed business agents and registered assistant\nbusiness agents\nPart 8.5\nSection 8.61\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 51\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n(3) In this section:\nagent does not include a registered assistant property agent.\nNote A registered assistant property agent includes a property manager (see\ns 8.1).\n8.61 Principal to be informed of an offer\n(1) The agent must tell the principal of all offers of purchase as soon as\npracticable after receiving the offer up until exchange of contracts\ntakes place.\n(2) However, if the principal has instructed the agent in writing not to tell\nthe principal of an offer, the agent must tell the person who made the\noffer that the principal will not be told about the offer.\n(3) The agent may tell the principal of an offer in writing and must\nidentify the party by whom the offer is made.\n(4) If the principal is told orally, the agent must confirm the information\nin writing.\n(5) This section does not apply to bids made in the course of an auction.\n8.62 Agent must not accept payment for a referral\nAn agent must not demand or accept a fee or other valuable\nconsideration for referring the principal to a buyers agent.\n\nDictionary\npage 52 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nDictionary\n(see s 3)\nNote 1 The Legislation Act contains definitions and other provisions relevant to\nthis regulation.\nNote 2 For example, the Legislation Act, dict, pt 1, defines the following terms:\n• ACT\n• commissioner for fair trading\n• Corporations Act\n• penalty unit (see s 133).\nNote 3 Terms used in this regulation have the same meaning that they have in\nthe Agents Act 2003 (see Legislation Act, s 148). For example, the\nfollowing terms are defined in the Agents Act 2003, dict:\n• agent\n• buyer\n• class 1 licensed property agent\n• employee\n• land auctioneer\n• licensed agent\n• licensed business agent\n• licensed land auctioneer\n• licensed real estate agent\n• licensed stock and station agent\n• records\n• registered\n• registered assistant business agent\n• registered assistant real estate agent\n• registered assistant stock and station agent\n• rural land\n• trust account.\nagency agreement—see the Act, section 100 (1) (a).\nagent, for schedule 8 (Rules of conduct)—see schedule 8, section 8.1.\n\nDictionary\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 53\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nbusiness—\n(a) for schedule 7 (Terms specific to agency agreements for sale of\nbusiness)—see schedule 7, section 7.1; and\n(b) for schedule 8, part 8.5 (Rules specific to licensed business\nagents and registered assistant business agents)—see\nschedule 8, section 8.57.\nowners corporation managing agent—see the Act, section 109A (3).\nproperty manager, for schedule 8 (Rules of conduct)—see\nschedule 8, section 8.1.\nregistered assistant property agent—\n(a) for this regulation generally—see the Act, dictionary; and\n(b) for schedule 8 (Rules of conduct)—see schedule 8, section 8.1.\nrepealed Act means the Agents Act 1968 (repealed by the Agents\nAct 2003).\n\nEndnotes\n1 About the endnotes\npage 54 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nEndnotes\n1 About the endnotes\nAmending and modifying laws are annotated in the legislation history and the\namendment history. Current modifications are not included in the republished law\nbut are set out in the endnotes.\nNot all editorial amendments made under the Legislation Act 2001, part 11.3 are\nannotated in the amendment history. Full details of any amendments can be\nobtained from the Parliamentary Counsel’s Office.\nUncommenced amending laws are not included in the republished law. The details\nof these laws are underlined in the legislation history. Uncommenced expiries are\nunderlined in the legislation history and amendment history.\nIf all the provisions of the law have been renumbered, a table of renumbered\nprovisions gives details of previous and current numbering.\nThe endnotes also include a table of earlier republications.\n2 Abbreviation key\nA = Act NI = Notifiable instrument\nAF = Approved form o = order\nam = amended om = omitted/repealed\namdt = amendment ord = ordinance\nAR = Assembly resolution orig = original\nch = chapter par = paragraph/subparagraph\nCN = Commencement notice pres = present\ndef = definition prev = previous\nDI = Disallowable instrument (prev...) = previously\ndict = dictionary pt = part\ndisallowed = disallowed by the Legislative r = rule/subrule\nAssembly reloc = relocated\ndiv = division renum = renumbered\nexp = expires/expired R[X] = Republication No\nGaz = gazette RI = reissue\nhdg = heading s = section/subsection\nIA = Interpretation Act 1967 sch = schedule\nins = inserted/added sdiv = subdivision\nLA = Legislation Act 2001 SL = Subordinate law\nLR = legislation register sub = substituted\nLRA = Legislation (Republication) Act 1996 underlining = whole or part not commenced\nmod = modified/modification or to be expired\n\nEndnotes\nLegislation history 3\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 55\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n3 Legislation history\nThis regulation was originally the Agents Regulations 2003. It was renamed under\nthe Legislation Act 2001.\nAgents Regulation 2003 SL2003-38\nnotified LR 31 October 2003\ns 1, s 2 commenced 31 October 2003 (LA s 75 (1))\nremainder commenced 1 November 2003 (s 2)\nas amended by\nJustice and Community Safety Legislation Amendment Act 2004\n(No 2) A2004-32 pt 3\nnotified LR 29 June 2004\ns 1, s 2 commenced 29 June 2004 (LA s 75 (1))\npt 3 commenced 30 June 2004 (s 2 (1))\nAgents Amendment Regulations 2004 (No 1) SL2004-49\nnotified LR 13 September 2004\ns 1, s 2 commenced 13 September 2004 (LA s 75 (1))\nremainder commenced 14 September 2004 (s 2)\nStatute Law Amendment Act 2005 A2005-20 sch 3 pt 3.2\nnotified LR 12 May 2005\ns 1, s 2 taken to have commenced 8 March 2005 (LA s 75 (2))\nsch 3 pt 3.2 commenced 2 June 2005 (s 2 (1))\nAgents Amendment Regulation 2005 (No 1) SL2005-10\nnotified LR 27 May 2005\ns 1, s 2 commenced 27 May 2005 (LA s 75 (1))\nremainder commenced 28 May 2005 (s 2)\nAgents Amendment Regulation 2006 (No 1) SL2006-18\nnotified LR 15 May 2006\ns 1, s 2 commenced 15 May 2006 (LA s 75 (1))\nremainder commenced 16 May 2006 (s 2)\nAgents Amendment Regulation 2006 (No 2) SL2006-24\nnotified LR 1 June 2006\ns 1, s 2 commenced 1 June 2006 (LA s 75 (1))\nremainder commenced 2 June 2006 (s 2)\n\nEndnotes\n3 Legislation history\npage 56 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nAgents Amendment Regulation 2006 (No 3) SL2006-47\nnotified LR 2 November 2006\ns 1, s 2 commenced 2 November 2006 (LA s 75 (1))\nremainder commenced 3 November 2006 (s 2)\nAgents Amendment Regulation 2007 (No 1) SL2007-3\nnotified LR 14 February 2007\ns 1, s 2 commenced 14 February 2007 (LA s 75 (1))\nremainder commenced 15 February 2007 (s 2)\nTraining and Tertiary Education Legislation Amendment Act 2007\nA2007-12 sch 1 pt 1.1\nnotified LR 13 June 2007\ns 1, s 2 commenced 13 June 2007 (LA s 75 (1))\nsch 1 pt 1.1 commenced 1 July 2007 (s 2 and CN2007-3)\nAgents Amendment Regulation 2008 (No 1) SL2008-32\nnotified LR 5 August 2008\ns 1, s 2 commenced 5 August 2008 (LA s 75 (1))\nremainder commenced 6 August 2008 (s 2)\nACT Civil and Administrative Tribunal Legislation Amendment\nAct 2008 (No 2) A2008-37 sch 1 pt 1.5\nnotified LR 4 September 2008\ns 1, s 2 commenced 4 September 2008 (LA s 75 (1))\nsch 1 pt 1.5 commenced 2 February 2009 (s 2 (1) and see ACT Civil\nand Administrative Tribunal Act 2008 A2008-35, s 2 (1) and CN2009-2)\nAgents Amendment Regulation 2009 (No 1) SL2009-34\nnotified LR 30 June 2009\ns 1, s 2 commenced 30 June 2009 (LA s 75 (1))\nremainder commenced 1 July 2009 (s 2)\nJustice and Community Safety Legislation (Red Tape Reduction\nNo 1—Licence Periods) Amendment Act 2013 A2013-28 pt 3\nnotified LR 21 August 2013\ns 1, s 2 commenced 21 August 2013 (LA s 75 (1))\npt 3 commenced 22 August 2013 (s 2)\n\nEndnotes\nLegislation history 3\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 57\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nJustice and Community Safety Legislation Amendment Act 2014\nA2014-17 sch 1 pt 1.2\nnotified LR 13 May 2014\ns 1, s 2 taken to have commenced 25 November 2013 (LA s 75 (2))\nsch 1 pt 1.2 commenced 1 July 2014 (s 2 (2))\nTraining and Tertiary Education Amendment Act 2014 A2014-48 sch 1\npt 1.2\nnotified LR 6 November 2014\ns 1, s 2 commenced 6 November 2014 (LA s 75 (1))\nsch 1 pt 1.2 commenced 20 November 2014 (s 2)\nAgents Amendment Regulation 2019 (No 1) SL2019-5\nnotified LR 25 February 2019\ns 1, s 2 commenced 25 February 2019 (LA s 75 (1))\nremainder commenced 26 February 2019 (s 2)\nFair Trading and Other Justice Legislation Amendment Act 2022\nA2022-8 pt 3\nnotified LR 11 May 2022\ns 1, s 2 commenced 11 May 2022 (LA s 75 (1))\ns 110 commenced 12 May 2022 (s 2 (1))\npt 3 remainder commenced 1 July 2022 (s 2 (2))\nAgents Amendment Regulation 2022 (No 1) SL2022-10\nnotified LR 29 June 2022\ns 1, s 2 commenced 29 June 2022 (LA s 75 (1))\nremainder commenced 1 July 2022 (s 2)\nAgents Amendment Regulation 2024 (No 1) SL2024-33\nnotified LR 12 September 2024\ns 1, s 2 commenced 12 September 2024 (LA s 75 (1))\nremainder commenced 13 September 2024 (s 2)\n\nEndnotes\n4 Amendment history\npage 58 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n4 Amendment history\nName of regulation\ns 1 am R4 LA\nCommencement\ns 2 om LA s 89 (4)\nDictionary\ns 3 am A2007-12 amdt 1.1; A2014-48 amdt 1.3\nAct does not apply to interstate travel agents advertising in ACT—Act, s 6 (l)\ns 5A ins SL2006-18 s 4\nom A2014-17 amdt 1.18\nAct, s 24 (4) (b) does not apply to public company providing travel\nservice—Act, s 6 (l)\ns 5B ins SL2006-47 s 4\nom A2014-17 amdt 1.18\nEntities to which Act does not apply—Act, s 6 (l)\ns 5C ins SL2007-3 s 4\nsub SL2019-5 s 4; SL2022-10 s 4; SL2024-33 s 4\nAct, s 28, s 29 (1) and s 45 do not apply in relation to owners corporation\nmanaging agent––Act, s 6 (l)\ns 5D ins SL2009-34 s 4\nam A2022-8 ss 103-105\nQualifications for licences—Act s 25\ns 6 am A2004-32 s 10; regs renum R2 LA (see A2004-32 s 11);\nSL2006-18 s 5\n(4) (d), (5) exp 16 May 2007 (s 6 (5))\nam A2007-12 amdt 1.2; SL2008-32 s 4; ss renum R13 LA;\nSL2009-34 s 5; ss renum R15 LA; A2014-17 amdt 1.19\nom A2022-8 s 106\nRelevant law for property training packages\ns 7 sub SL2008-32 s 5\nom A2022-8 s 106\nLicence conditions—professional development—Act s 34 (1) (a)\ns 7A hdg sub A2022-8 s 107\ns 7A ins SL2004-49 s 4\nam A2022-8 s 108, s 109; SL2022-10 s 5\nEligibility of unqualified real estate salespeople for registration—Act, s 49 (2)\ns 8A ins SL2004-49 s 5\nam A2005-20 amdt 3.9; SL2006-24 s 4; SL2008-32 s 6;\nA2013-28 s 8\nom A2022-8 s 110\n\nEndnotes\nAmendment history 4\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 59\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nEligibility for registration—certain unqualified real estate salespeople—Act,\ns 49 (2)\ns 8B ins SL2006-24 s 5\nom A2022-8 s 110\nQualifications for registration as salesperson—Act, s 50\ns 9 am SL2004-49 s 6, s 7\nsub SL2008-32 s 7\nom A2022-8 s 111\nInformation to be included in advertisement of intention to apply for\nregistration—Act, s 52 (2) (b)\ns 10 hdg sub A2022-8 s 112\nRegistration conditions—professional development—Act, s 58 (1) (a)\ns 10A hdg sub A2022-8 s 112\ns 10A ins SL2004-49 s 8\nam SL2022-10 s 6\nRegistration conditions—additional qualifications required after\nregistration—Act, s 58 (1) (a)\ns 10AA ins SL2022-10 s 7\nConduct of licensed agents and registered assistant property agents\npt 4 hdg sub A2022-8 s 113\nClass 1 licensed property agent to be in charge of business—exemptions—\nAct, s 71 (3)\ns 13 sub A2022-8 s 114\nUse of excess trust money—Act s 163\ns 16 om A2008-37 amdt 1.18\nMiscellaneous\npt 6 hdg sub A2022-8 s 115\nRules of conduct for licensed agents—Act, s 171 (1)\ns 17 sub A2022-8 s 115\nRules of conduct for licensed land auctioneers—Act, s 171 (1)\ns 18 sub A2022-8 s 115\nDisapplication of Legislation Act, s 47 (6)\ns 18A ins SL2008-32 s 8\nom A2022-8 s 115\nTransitional provisions\npt 7 hdg exp 1 June 2006 (s 21)\nEligibility for registration—unregistered employees before commencement\nday—Act, s 49 (2)\ns 19 exp 1 June 2006 (s 21)\n\nEndnotes\n4 Amendment history\npage 60 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nEligibility for registration—new employees on and after commencement\nday—Act, s 49 (2)\ns 20 exp 1 June 2006 (s 21)\nEligibility for registration—certain unqualified real estate salespeople—Act,\ns 49 (2)\ns 20A ins SL2004-49 s 9\nam SL2005-10 s 4\nexp 1 June 2006 (s 21)\nExpiry of pt 7\ns 21 sub SL2005-10 s 5\nexp 1 June 2006 (s 21)\nTransitional—Unit Titles Amendment Act 2008 (No 2)\npt 8 hdg ins SL2009-34 s 6\nexp 1 January 2010 (s 31)\nOwners corporation managing agents––Act, s 220 (1)\ns 30 ins SL2009-34 s 6\nexp 1 January 2010 (s 31)\nExpiry—pt 8\ns 31 ins SL2009-34 s 6\nexp 1 January 2010 (s 31)\nLicensing of real estate, stock and station, and business agents—units of\ncompetency in CPP07\nsch 1 sub SL2008-32 s 9\nom A2022-8 s 116\nRegistration of salespeople—units of competency in CPP07\nsch 2 sub SL2008-32 s 10\nom A2022-8 s 116\nTerms applying to all agency agreements\nsch 3 ss renum R4 LA\nTerms specific to agency agreements for sale of residential property\nsch 4 ss renum R4 LA\nTerms specific to a buyers agent agency agreements\nsch 5 ss renum R4 LA\nTerms specific to agency agreements for sale of rural land\nsch 6 ss renum R4 LA\nTerms specific to agency agreements for sale of business\nsch 7 ss renum R4 LA\nRules of conduct\nsch 8 ss renum R4 LA\n\nEndnotes\nAmendment history 4\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 61\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nDefinitions—sch 8\nsch 8 s 8.1 sub A2022-8 s 117\ndef agent sub A2022-8 s 118\ndef property manager sub A2005-20 amdt 3.10; A2022-8\ns 117\ndef registered assistant property agent ins A2022-8 s 117\ndef registered salesperson om A2022-8 s 117\nGeneral rules applying to all licensed agents and registered assistant\nproperty agents\nsch 8 pt 8.2 hdg sub A2022-8 s 118\nKnowledge of Act and other laws\nsch 8 s 8.2 am A2022-8 s 119, s 120\nTo act in accordance with client authority\nsch 8 s 8.9 am A2022-8 s 121\nAgency agreements must comply with regulation\nsch 8 s 8.19 am A2022-8 s 122\nRules specific to licensed real estate agents and registered assistant real\nestate agents\nsch 8 pt 8.3 hdg sub A2022-8 s 123\nConfirmation of specific instructions—leasing of property\nsch 8 s 8.42 am SL2006-24 s 6\nProperty management—real estate agents\nsch 8 div 8.3.3 hdg sub A2005-20 amdt 3.11\nRules specific to licensed stock and station agents and registered assistant\nstock and station agents\nsch 8 pt 8.4 hdg sub A2022-8 s 124\nProperty management—stock and station agents\nsch 8 div 8.4.2 hdg sub A2005-20 amdt 3.12\nCooperation about records, access and transfer\nsch 8 s 8.53 am A2022-8 s 125\nRules specific to licensed business agents and registered assistant\nbusiness agents\nsch 8 pt 8.5 hdg sub A2022-8 s 126\nConfirmation of specific instructions\nsch 8 s 8.60 am A2022-8 s 127\n\nEndnotes\n4 Amendment history\npage 62 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nDictionary\ndict am SL2006-47 s 5; SL2009-34 s 7; A2022-8 s 128, s 129\ndef agency agreement ins A2022-8 s 130\ndef ANTA om A2022-8 s 131\ndef approved ins SL2008-32 s 11\nom A2022-8 s 131\ndef business am A2022-8 s 132\ndef owners corporation managing agent ins A2022-8 s 133\ndef registered assistant property agent ins A2022-8 s 133\ndef registered salesperson om A2022-8 s 134\ndef registered training organisation am A2007-12 amdt 1.3;\nA2014-48 amdt 1.4\nom A2022-8 s 134\ndef statement of attainment am A2007-12 amdt 1.4;\nA2014-48 amdt 1.5\nom A2022-8 s 134\ndef unqualified real estate salesperson ins SL2004-49 s 10\nom A2022-8 s 134\n\nEndnotes\nEarlier republications 5\nR23\n13/09/24\nAgents Regulation 2003\nEffective: 13/09/24\npage 63\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\n5 Earlier republications\nSome earlier republications were not numbered. The number in column 1 refers to\nthe publication order.\nSince 12 September 2001 every authorised republication has been published in\nelectronic pdf format on the ACT legislation register. A selection of authorised\nrepublications have also been published in printed format. These republications are\nmarked with an asterisk (*) in column 1. Electronic and printed versions of an\nauthorised republication are identical.\nRepublication\nNo and date\nEffective Last\namendment\nmade by\nRepublication\nfor\nR1\n1 Nov 2003\n1 Nov 2003–\n29 June 2004\nnot amended new regulation\nR2\n30 June 2004\n","sortOrder":22},{"sectionNumber":"30","sectionType":"section","heading":"June 2004-","content":"30 June 2004-\n13 Sept 2004\nA2004-32 amendments by\nA2004-32\nR3\n14 Sept 2004\n","sortOrder":23},{"sectionNumber":"14","sectionType":"section","heading":"Sept 2004–","content":"14 Sept 2004–\n3 Nov 2004\nSL2004-49 amendments by\nSL2004-49\nR4\n4 Nov 2004\n","sortOrder":24},{"sectionNumber":"4","sectionType":"section","heading":"Nov 2004–","content":"4 Nov 2004–\n27 May 2005\nSL2004-49 editorial\namendments under\nLegislation Act\nR5\n28 May 2005\n","sortOrder":25},{"sectionNumber":"28","sectionType":"section","heading":"May 2005–","content":"28 May 2005–\n1 June 2005\nSL2005-10 amendments by\nSL2005-10\nR6\n2 June 2005\n2 June 2005–\n15 May 2006\nSL2005-10 amendments by\nA2005-20\nR7\n16 May 2006\n","sortOrder":26},{"sectionNumber":"16","sectionType":"section","heading":"May 2006–","content":"16 May 2006–\n1 June 2006\nSL2006-18 amendments by\nSL2006-18\nR8\n2 June 2006\n2 June 2006–\n2 Nov 2006\nSL2006-24 commenced expiry\nand amendments\nby SL2006-24\nR9\n3 Nov 2006\n","sortOrder":27},{"sectionNumber":"3","sectionType":"section","heading":"Nov 2006–","content":"3 Nov 2006–\n14 Feb 2007\nSL2006-47 amendments by\nSL2006-47\nR10\n15 Feb 2007\n","sortOrder":28},{"sectionNumber":"15","sectionType":"section","heading":"Feb 2007–","content":"15 Feb 2007–\n16 May 2007\nSL2007-3 amendments by\nSL2007-3\nR11\n17 May 2007\n","sortOrder":29},{"sectionNumber":"17","sectionType":"section","heading":"May 2007–","content":"17 May 2007–\n30 June 2007\nSL2007-3 commenced expiry\n\nEndnotes\n","sortOrder":30},{"sectionNumber":"5","sectionType":"section","heading":"Earlier republications","content":"5 Earlier republications\npage 64 Agents Regulation 2003\nEffective: 13/09/24\nR23\n13/09/24\nAuthorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au\nRepublication\nNo and date\nEffective Last\namendment\nmade by\nRepublication\nfor\nR12\n1 July 2007\n1 July 2007–\n5 Aug 2008\nA2007-12 amendments by\nA2007-12\nR13\n6 Aug 2008\n","sortOrder":31},{"sectionNumber":"6","sectionType":"section","heading":"Aug 2008–","content":"6 Aug 2008–\n1 Feb 2009\nSL2008-32 amendments by\nSL2008-32\nR14*\n2 Feb 2009\n2 Feb 2009–\n30 June 2009\nA2008-37 amendments by\nA2008-37\nR15\n1 July 2009\n1 July 2009–\n1 Jan 2010\nSL2009-34 amendments by\nSL2009-34\nR16\n2 Jan 2010\n","sortOrder":32},{"sectionNumber":"2","sectionType":"section","heading":"Jan 2010–","content":"2 Jan 2010–\n21 Aug 2013\nSL2009-34 commenced expiry\nR17\n22 Aug 2013\n","sortOrder":33},{"sectionNumber":"22","sectionType":"section","heading":"Aug 2013–","content":"22 Aug 2013–\n30 June 2014\nA2013-28 amendments by\nA2013-28\nR18\n1 July 2014\n1 July 2014–\n19 Nov 2014\nA2014-17 amendments by\nA2014-17\nR19\n20 Nov 2014\n","sortOrder":34},{"sectionNumber":"20","sectionType":"section","heading":"Nov 2014–","content":"20 Nov 2014–\n25 Feb 2019\nA2014-48 amendments by\nA2014-48\nR20\n26 Feb 2019\n","sortOrder":35},{"sectionNumber":"26","sectionType":"section","heading":"Feb 2019–","content":"26 Feb 2019–\n11 May 2022\nSL2019-5 amendments by\nSL2019-5\nR21\n12 May 2022\n","sortOrder":36},{"sectionNumber":"12","sectionType":"section","heading":"May 2022–","content":"12 May 2022–\n30 June 2022\nA2022-8 amendments by\nA2022-8\nR22\n1 July 2022\n","sortOrder":37},{"sectionNumber":"1","sectionType":"section","heading":"July 2022–","content":"1 July 2022–\n12 Sept 2024\nSL2022-10 amendments by\nA2022-8 and\nSL2022-10\n© Australian Capital Territory 2024","sortOrder":38}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"issue_detection":{"absurdities":[],"contradictions":[{"severity":"high","section_a":"Schedule 4, section 4.1(5)","section_b":"Schedule 4, section 4.2(2)","confidence":0.98,"description":"For an exclusive or sole agency agreement, section 4.1(5) requires its prescribed statement to follow immediately after the Schedule 3 section 3.9 remuneration term. Section 4.2(2) requires a distinct warning statement to follow immediately after that same term. Both distinct statements cannot occupy the position immediately following the remuneration term.","source_quotes":["The statement under subsection (1) or (2) must follow immediately after the term required by schedule 3, section 3.9 (Remuneration) and be no less prominent than that term.","The warning statement under subsection (1) must follow immediately after the term required by schedule 3, section 3.9 (Remuneration) and be no less prominent than that term."]},{"severity":"high","section_a":"Schedule 6, section 6.1(5)","section_b":"Schedule 6, section 6.2(2)","confidence":0.98,"description":"For an exclusive or sole agency agreement, section 6.1(5) requires its prescribed statement to follow immediately after the Schedule 3 section 3.9 remuneration term. Section 6.2(2) requires a distinct warning statement to follow immediately after that same term. Both distinct statements cannot occupy the position immediately following the remuneration term.","source_quotes":["The statement under subsection (1) or (2) must follow immediately after the term required by schedule 3, section 3.9 (Remuneration) and be no less prominent than that term.","The warning statement under subsection (1) must follow immediately after the term required by schedule 3, section 3.9 (Remuneration) and be no less prominent than that term."]},{"severity":"high","section_a":"Schedule 7, section 7.2(5)","section_b":"Schedule 7, section 7.3(2)","confidence":0.98,"description":"For an exclusive or sole agency agreement, section 7.2(5) requires its prescribed statement to follow immediately after the Schedule 3 section 3.9 remuneration term. Section 7.3(2) requires a distinct warning statement to follow immediately after that same term. Both distinct statements cannot occupy the position immediately following the remuneration term.","source_quotes":["The statement under subsection (1) or (2) must follow immediately after the term required by schedule 3, section 3.9 (Remuneration) and be no less prominent than that term.","The warning statement under subsection (1) must follow immediately after the term required by schedule 3, section 3.9 (Remuneration) and be no less prominent than that term."]}]},"flash_summary":{"complexity_score":7,"scope_assessment":{"changed":true,"description":"The regulation’s scope has been expanded and refocused since 2003 by later amendments. Notable scope changes include prescribed exemptions for community housing providers and employees from the Act’s application (s 5C), carve‑outs for owners corporation managing agents (s 5D), formalised continuing professional development requirements and commissioner guidelines for licence and registration holders (s 7A; s 10A), and an added post‑registration qualification requirement for registered assistant property agents (s 10AA). Schedule 8 (rules of conduct) and definitional changes introduced in later amendments broadened regulatory duties and reporting obligations (see s 17; sch 8)."},"complexity_factors":["Multiple distinct agent categories (real estate, buyers, stock & station, business, registered assistant property agents) each with tailored rules and reporting duties (schedules 3–8; sch 8).","Detailed mandatory terms for agency agreements across property types, including disclosure, termination and commission rules (s 15; schs 3–7).","Continuing professional development and post‑registration qualification obligations that rely on commissioner guidelines and disallowable instruments (s 7A; s 10A; s 10AA).","Significant procedural requirements and timelines (eg notice of change of business within 5 business days (s 12); fixed‑term termination right at 90 days (sch 4.3)).","Commissioner discretion to make guidelines, grant or revoke exemptions, and declare additional qualifications (s 7A(2); s 13; s 10AA(2)), creating administrative decision points.","Cross‑references to the Agents Act, Legislation Act and external laws (criminal code, tenancy, privacy, etc.) increasing interpretive interdependence (s 5; sch 8.2).","Extensive amendment history and omissions noted in endnotes, meaning practitioners must track changes and disallowances (endnotes/Amendment history)."],"plain_english_summary":"This regulation sets the practical rules for licensing, registration and conduct of property, business and stock & station agents in the ACT. It prescribes mandatory terms for agency agreements, inspection and reporting duties, continuing professional development and qualifications, and conduct standards for different agent types.  \nLicensed and registered agents (including assistant property agents) pay for compliance (training, reports, disclosures). The commissioner for fair trading decides guidelines, exemptions and declarations (for example CPD and additional qualifications). Non‑compliance risks regulatory penalties."},"kimi_summary":{"content_quality":"ok","complexity_score":5,"scope_assessment":{"changed":false,"description":"The regulation appears to have maintained its original scope as a detailed implementation instrument for the Agents Act 2003. While it has been amended multiple times (23 republications), these amendments appear to be evolutionary refinements rather than scope creep. The 2022 amendments removed outdated travel agent provisions and updated training requirements, actually narrowing the scope to focus on core property and business agency functions. The structure remains consistent with its original purpose: licensing conditions, conduct rules, and agency agreement requirements."},"complexity_factors":["Multiple overlapping schedules (Schedules 3-8) with similar but not identical requirements for different agent types","Extensive cross-referencing to the parent Agents Act 2003 (the regulation cannot be understood without reference to the Act)","Conditional application of rules based on agent type (real estate vs stock and station vs business agents) creating parallel but distinct obligation structures","Signpost definitions that point to other sections for meanings (e.g., 'agent, for schedule 8—see schedule 8, section 8.1')","Multiple amendment layers visible in the endnotes showing evolutionary complexity (23 republications since 2003)","Specific formatting requirements for agency agreements (e.g., warnings must be 'no less prominent' than other terms)","Nested exceptions in conduct rules (e.g., inspection requirements don't apply if written consent obtained, or if sale is solely of livestock)"],"plain_english_summary":"This regulation sets out the detailed rules for how real estate agents, stock and station agents, business agents, and land auctioneers must operate in the ACT. It works alongside the Agents Act 2003 to fill in the practical details.\n\n**Who it affects:**\n- **Licensed agents** (real estate, stock and station, business, and land auctioneers)\n- **Registered assistant property agents** (employees working under licensed agents)\n- **Property owners** selling or leasing property\n- **Buyers and tenants** dealing with these agents\n\n**What it does:**\n\n**1. Licensing and registration rules**\n- Sets conditions for keeping your licence or registration, including completing ongoing professional development training\n- Requires certain qualifications for registered assistant property agents after they are registered\n- Sets out what the Commissioner for Fair Trading must consider when granting exemptions (for example, allowing someone without the top-level licence to run an office)\n\n**2. How agents must behave (Rules of Conduct)**\nThe regulation contains extensive rules of conduct in Schedule 8, including:\n- **For everyone:** Act honestly, fairly and professionally; keep client information confidential; avoid conflicts of interest; don't use high-pressure tactics; know the relevant laws\n- **For sales agents:** Must physically inspect properties before selling them; must prepare detailed inspection reports for sellers; must tell sellers about all offers received; must include specific warnings in agency agreements about exclusive/sole agency arrangements\n- **For buyer's agents:** Must prepare a statement of property details; cannot exceed the agreed maximum price without written permission\n- **For property managers:** Must accompany prospective tenants on inspections (not just hand over keys); must promptly handle repair requests; must notify tenants if the property is being sold; must cooperate when management is transferred to another agent\n\n**3. Agency agreements (contracts between agents and clients)**\n- Mandates specific terms that must be included in all agency agreements (Schedules 3-7)\n- Requires prominent warnings about \"exclusive\" and \"sole\" agency agreements (where you might still owe commission even if you find the buyer yourself)\n- Requires specific terms for residential sales, rural land sales, business sales, and buyer's agency agreements\n- For residential sales, agreements over 90 days must allow the seller to terminate without penalty after the first 90 days with 30 days' notice\n\n**4. Special provisions**\n- Exempts registered community housing providers from certain requirements when providing tenancy management services\n- Exempts owners corporation managing agents from certain licensing advertising and registration requirements\n- Requires agents giving financial or investment advice to include warnings that the advice is general only and to disclose any conflicts of interest\n\n**Why it matters:**\nThis regulation protects consumers by ensuring agents meet professional standards, provide clear written agreements, and cannot hide important information. It gives property owners specific rights (like the ability to cancel long-term agency agreements) and ensures tenants are notified when properties are sold. For agents, it creates a clear framework of professional obligations and consequences for misconduct."}},"importantCases":[],"_links":{"self":"/api/acts/agents-regulation-2003","history":"/api/acts/agents-regulation-2003/history","analysis":"/api/acts/agents-regulation-2003/analysis","conflicts":"/api/acts/agents-regulation-2003/conflicts","importantCases":"/api/acts/agents-regulation-2003/important-cases","documents":"/api/acts/agents-regulation-2003/documents"}}