89Requirement to substantiate selling price estimates

89 Requirement to substantiate selling price estimates (1) The commissioner for fair trading may, by written notice to a licensed agent or registered assistant property agent, require the agent or assistant property agent to give to the commissioner the evidence that the agent or assistant property agent relied on in the making of any representation about the agent’s or assistant property agent’s estimate of the selling price of land— (a) to a seller of the land; or (b) to a buyer of the land; or (c) in an advertisement or other publication. (2) The notice must state a reasonable period for complying with the notice. (3) A person commits an offence if the person fails to comply with a notice given to the person under this section within the stated period.