Schedule 7 Terms specific to agency agreements for sale of business
Section 7.5
page 24 Agents Regulation 2003
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7.5 Specific instructions about marketing and inspections
The agreement must include any written confirmation prepared for
schedule 8, section 8.60 of any stated instructions given to the agent
by the principal before the agreement is entered into about any of the
following:
(a) the marketing of the business;
(b) the entitlement of prospective purchasers to inspect the premises
of the business and the circumstances under which the
inspection can be made;
(c) the entitlement of prospective purchasers to inspect records,
books of account and other documents about the business and
the circumstances under which the inspection can be made.
Rules of conduct Schedule 8
Interpretation Part 8.1
Section 8.1
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Schedule 8 Rules of conduct
(see s 17)
Part 8.1 Interpretation
8.1 Definitions—sch 8
In this schedule:
agent includes a registered assistant property agent.
property manager means—
(a) for part 8.2 (General rules applying to all licensed agents and
registered assistant property agents)—a person employed by an
agent in relation to the management of property to which
division 8.3.3 or division 8.4.2 applies; and
(b) for division 8.3.3 (Property management—real estate agents)—
a person employed by an agent in relation to the management of
property to which the division applies; and
(c) for division 8.4.2 (Property management—stock and station
agents)—a person employed by an agent in relation to the
management of property to which the division applies.
registered assistant property agent includes a property manager.
Schedule 8 Rules of conduct
Part 8.2 General rules applying to all licensed agents and registered assistant
property agents
Section 8.2
page 26 Agents Regulation 2003
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Part 8.2 General rules applying to all
licensed agents and registered
assistant property agents
8.2 Knowledge of Act and other laws
An agent must have a knowledge and understanding of the Act, and
any other laws relevant to the kind and class of licence or kind of
registration held (including, laws relating to residential tenancy, fair
trading, trade practices, anti-discrimination and privacy) that may be
necessary to allow the agent to lawfully exercise their functions as
agent.
Note A reference to an Act includes a reference to the statutory instruments
made or in force under the Act, including any regulation (see Legislation
Act, s 104).
8.3 Fiduciary obligations
An agent must comply with the fiduciary obligations arising as an
agent.
8.4 Honesty, fairness and professionalism
(1) An agent must act honestly, fairly and professionally with all parties
in a transaction.
(2) An agent must not mislead or deceive any parties in negotiations or a
transaction.
8.5 Skill, care and diligence
An agent must exercise reasonable skill, care and diligence.
8.6 High pressure tactics, harassment or unconscionable
conduct
An agent must not engage in high pressure tactics, harassment or
harsh or unconscionable conduct.
Rules of conduct Schedule 8
General rules applying to all licensed agents and registered assistant
property agents
Part 8.2
Section 8.7
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8.7 To act in client’s best interests
An agent must act in the client’s best interest at all times unless it
would be contrary to the Act or otherwise unlawful to do so.
Note A reference to an Act includes a reference to the statutory instruments
made or in force under the Act, including any regulation (see Legislation
Act, s 104).
8.8 Confidentiality
An agent must not, at any time, use or disclose any confidential
information obtained while acting on behalf of a client or dealing with
a customer, unless—
(a) the client or customer consents to the disclosure; or
(b) the agent is permitted or compelled by law to disclose the
information.
8.9 To act in accordance with client authority
An agent must not act as an agent or represent themself as acting as
an agent on behalf of a person without the written consent of the
person.
8.10 To act in accordance with client’s instructions
An agent must act in accordance with a client’s instructions unless it
would be contrary to the Act or otherwise unlawful to do so.
Note A reference to an Act includes a reference to the statutory instruments
made or in force under the Act, including any regulation (see Legislation
Act, s 104).
Schedule 8 Rules of conduct
Part 8.2 General rules applying to all licensed agents and registered assistant
property agents
Section 8.11
page 28 Agents Regulation 2003
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8.11 Licensee must ensure employees comply with the Act
An agent who is the licensee-in-charge at a place of business of a
licensee must take reasonable steps to ensure other licensees or
registered persons employed in the business conducted there comply
with the Act.
Note A reference to an Act includes a reference to the statutory instruments
made or in force under the Act, including any regulation (see Legislation
Act, s 104).
8.12 Conflicts of interest
An agent must not accept an appointment to act, or continue to act, as
an agent if doing so would place the agent’s interests in conflict with
the client’s interests.
8.13 Referral to service provider
(1) An agent who refers a principal or prospective buyer to a service
provider must not falsely represent to the principal or prospective
buyer that the service provider is independent of the agent.
(2) A service provider is considered to be independent of an agent if—
(a) the agent receives no rebate, discount, commission or benefit for
referring a client or customer to the service provider; and
(b) the agent does not have a personal or commercial relationship
with the service provider.
Examples of personal or commercial relationship
1 a family relationship
2 a business relationship
3 a fiduciary relationship
4 a relationship in which 1 person is accustomed, or obliged, to act in accordance
with the directions, instructions or wishes of the other person
Rules of conduct Schedule 8
General rules applying to all licensed agents and registered assistant
property agents
Part 8.2
Section 8.14
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(3) If the service provider is not independent of the agent, the agent must
disclose to the principal or prospective buyer—
(a) the nature of any relationship, whether personal or commercial,
the agent has with the service provider; and
(b) the nature and value of any rebate, discount, commission or
benefit the agent may receive, or expects to receive, by referring
the client or customer to the service provider.
8.14 Licensee not to recommend engagement of services of
solicitor acting for other party
An agent must not recommend that a principal or prospective buyer
engage the services of a solicitor or firm of solicitors, if the agent
knows that the solicitor or the firm of solicitors acts or will be acting
for the other party to the agreement concerned.
8.15 Inducements
An agent must not offer to provide to any other person any gift, favour
or benefit, whether monetary or otherwise, to induce any other person
to engage the services of the agent as agent in relation to any matter.
8.16 Soliciting through false or misleading advertisements or
communications
An agent must not solicit clients or customers by advertisement or
other communication that the agent knows or should know are false
or misleading.
8.17 Insertion of material particulars in documents
An agent must not give or tender to any person for signature a
document, unless at the time of giving or tendering of the document
all material particulars have been inserted in the document.
Schedule 8 Rules of conduct
Part 8.2 General rules applying to all licensed agents and registered assistant
property agents
Section 8.18
page 30 Agents Regulation 2003
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8.18 Representations about Act
(1) An agent must not falsely represent to a person the nature or effect of
a provision of the Act.
(2) An agent must not, either expressly or impliedly, falsely represent,
whether in writing or otherwise, to a person that a particular form of
agency agreement or any term of the agreement is required by the
Act.
Note A reference to an Act includes a reference to the statutory instruments
made or in force under the Act, including any regulation (see Legislation
Act, s 104).
8.19 Agency agreements must comply with regulation
(1) An agent must not enter into an agency agreement unless the
agreement complies with any applicable requirements of this
regulation, as required by the Act, section 100 (No commission or
expenses without agency agreement).
(2) In this section:
agent does not include a registered assistant property agent.
Note A registered assistant property agent includes a property manager (see
s 8.1).
Rules of conduct Schedule 8
Rules specific to licensed real estate agents and registered assistant real
estate agents
Part 8.3
Sales Division 8.3.1
Section 8.20
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Part 8.3 Rules specific to licensed real
estate agents and registered
assistant real estate agents
Division 8.3.1 Sales
8.20 Preliminary physical inspection of property for sale to be
conducted by agent
An agent must not act on behalf of a principal in relation to the sale
of a property unless the agent has conducted a preliminary physical
inspection of the property.
8.21 Sales inspection report required for property
(1) On completion of the inspection required by section 8.20, an agent
must prepare and give to the principal a sales inspection report for the
property.
(2) The report must be signed by the agent and state the following:
(a) the principal’s name and address;
(b) the date of preparation of the report;
(c) the agent’s name, business address and telephone number;
(d) a description of the property, including the address of the
property and any other details that may be necessary to enable
the property to be readily identified;
(e) a description of any fittings and fixtures that are to be included
in the sale of the property;
(f) any terms and conditions of sale known to the agent (for
example, whether or not vacant possession is to be given);
(g) the agent’s recommendation about the most suitable method of
sale of the property;
Schedule 8 Rules of conduct
Part 8.3 Rules specific to licensed real estate agents and registered assistant
real estate agents
Division 8.3.1 Sales
Section 8.22
page 32 Agents Regulation 2003
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(h) the agent’s estimate of the selling price (or price range) for the
property;
(i) details of any covenants, easements, defects, government
notices or orders affecting the property that are known to the
agent;
(j) details of any special instructions about the marketing and
showing of the property;
(k) the name, business address, telephone number and address for
service of documents of the principal’s solicitor.
8.22 Principal to be informed of an offer
(1) The agent must tell the principal of all offers of purchase of a property
as soon as practicable after receiving the offer until the exchange of
contracts for the purchase of the property takes place.
(2) The agent must tell the principal orally or in writing of each offer and
must identify the party who made the offer.
(3) However, if the principal has instructed the agent in writing not to tell
the principal of an offer, the agent must tell the person who made the
offer that the principal will not be told about the offer.
(4) This section does not apply to bids made in the course of an auction.
8.23 Information to be given when expression of interest
deposit paid
(1) When the principal pays an expression of interest deposit (deposit) in
relation to the proposed purchase of a property before exchange of
contracts for the property, the agent must tell the principal that the
vendor has no obligation to sell the property or the purchaser to buy
the property.
(2) The deposit is refundable if a contract for the sale of the property is
not entered into.
Rules of conduct Schedule 8
Rules specific to licensed real estate agents and registered assistant real
estate agents
Part 8.3
Buyers agents Division 8.3.2
Section 8.24
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(3) The information—
(a) must be in writing; and
(b) may be given on the receipt issued by the vendor or their agent.
(4) An agent must promptly tell the principal when the agent becomes
aware of any subsequent offers to purchase the property.
8.24 Notifying managing agent of appointment to sell
residential property
If an agent accepts an appointment to sell residential property that is
tenanted, the agent must immediately give written notice of the
appointment to any agent responsible for managing the property.
8.25 Licensee must not accept payment for a referral
An agent must not demand or accept a fee or other valuable
consideration for referring the principal to a buyer’s agent.
Division 8.3.2 Buyers agents
8.26 Statement of property details
(1) When entering into an agency agreement with a principal to act as
buyer’s agent for the principal, an agent must prepare and give the
principal a statement of property details.
(2) The statement must be signed by the agent and state the following:
(a) details known to the agent of the type of property to be
purchased;
Schedule 8 Rules of conduct
Part 8.3 Rules specific to licensed real estate agents and registered assistant real
estate agents
Division 8.3.2 Buyers agents
Section 8.27
page 34 Agents Regulation 2003
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(b) details of any special instructions about the property to be
purchased (for example, for a rented property, an instruction that
vacant possession is required).
Note These details can be changed by agreement between the parties or as
provided by the agency agreement.
8.27 Principal to be informed of negotiations
(1) The agent must keep the principal informed of each stage of the
negotiation of a purchase price, as instructed by the principal.
(2) This section does not apply to bids made in the course of an auction.
8.28 Licensee to obtain best possible purchase price
An agent is to use the agent’s best efforts to get the best possible
purchase price, without breaching standards of ethical conduct or
engaging in conduct that is contrary to good agency practice.
8.29 Licensee not to exceed agreed purchase price in
negotiations or at auction
(1) In negotiations for the purchase of a property, the agent must not
exceed the maximum or agreed price fixed by the principal without
the express written consent of the principal or a person authorised by
the principal.
(2) When the bidding at an auction exceeds the maximum or agreed price
fixed by the principal, the agent must not continue bidding without
the express consent of the principal or a person authorised by the
principal.
Rules of conduct Schedule 8
Rules specific to licensed real estate agents and registered assistant real
estate agents
Part 8.3
Property management—real estate agents Division 8.3.3
Section 8.30
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8.30 Information to be given when expression of interest
deposit paid
(1) When the principal pays an expression of interest deposit (deposit) in
relation to the proposed purchase of a property before exchange of
contracts for the property, the agent must tell the principal that the
vendor has no obligation to sell the property or the purchaser to buy
the property.
(2) The deposit is refundable if a contract for the sale of the property is
not entered into.
(3) The information—
(a) must be in writing; and
(b) may be given on the receipt issued by the vendor or their agent.
(4) An agent must promptly tell the principal when the agent becomes
aware of any subsequent offers to purchase the property.
8.31 Licensee must not accept payment for a referral
An agent must not demand or accept a fee or other valuable
consideration for referring the principal to a selling agent.
Division 8.3.3 Property management—real estate
agents
8.32 Inspection report
(1) An agent must, as soon as practicable after entering into an agency
agreement in relation to the management of property, prepare and
give to the principal an inspection report for the property.
(2) The inspection report must be signed by the licensee and include the
following:
(a) the name and address of the principal;
(b) the address of the property;
Schedule 8 Rules of conduct
Part 8.3 Rules specific to licensed real estate agents and registered assistant real
estate agents
Division 8.3.3 Property management—real estate agents
Section 8.33
page 36 Agents Regulation 2003
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(c) the date of preparation of the report;
(d) the licensee’s name, licence number and business address;
(e) a description of the exterior and interior condition of the
property, including fittings, fixtures, improvements and
anything provided with the property;
(f) details of any work still to be completed by the principal on the
property.
8.33 Inspection of property for rent
(1) An agent must accompany a prospective tenant on an inspection of
the property.
(2) An agent must not give the keys to a property to a prospective tenant,
even for a short time.
(3) Subsections (1) and (2) do not apply if the principal, and, if the
property is currently let, the tenant, have otherwise consented in
writing.
8.34 Maintenance or repairs of rental property
(1) An agent managing a rental property must promptly respond to and,
subject to the principal’s instructions, attend to all requests by a
tenant, for maintenance of, or repairs to, the property.
(2) If the principal has given an instruction that a repair not be carried
out, the agent must tell the principal if the principal’s failure to carry
out the repair would constitute a breach of any tenancy agreement in
force in relation to the property.
8.35 Breach of tenancy agreement
An agent managing a rental property must immediately tell the
principal in writing if the agent becomes aware of a tenant’s breach
of the tenancy agreement.
Rules of conduct Schedule 8
Rules specific to licensed real estate agents and registered assistant real
estate agents
Part 8.3
Property management—real estate agents Division 8.3.3
Section 8.36
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8.36 Notifying tenant of appointment to sell
(1) This section applies if an agent managing a rental property is aware
that—
(a) the property is listed for sale; or
(b) a real estate agent has been appointed to act on the sale of the
property.
(2) The agent must immediately give the tenant written notice of—
(a) the intended sale of the property; or
(b) the appointment of the real estate agent for the sale of the
property and the name and contact details of the agent.
8.37 Final inspection of property
An agent must take all reasonable steps to ensure that any final
inspection of the property, on vacation of the property, is conducted
in the presence of the tenant, unless otherwise authorised by the
tenant.
Example of reasonable steps
Reasonable steps by an agent would consist of contacting the tenant to discuss
suitable times for the inspection, arranging to meet at a particular time and place
and proceeding to meet the tenant at the arranged time and place.
8.38 Obtaining tenant’s signature for rental bond refund
An agent must not solicit or obtain the signature of a tenant to any
document relating to the refund of a rental bond before the
termination of the tenancy, unless the document directs that the bond
be repaid in full to the tenant or transferred to another tenancy in
accordance with the tenant’s directions.
Schedule 8 Rules of conduct
Part 8.3 Rules specific to licensed real estate agents and registered assistant real
estate agents
Division 8.3.3 Property management—real estate agents
Section 8.39
page 38 Agents Regulation 2003
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8.39 Cooperation about records, access and transfer
(1) This section applies if an agent—
(a) is acting on behalf of a principal in the management of property;
and
(b) is advised by another agent that the other agent (the new agent)
has been engaged to act on behalf of that principal in the
management of that property.
(2) The agent must cooperate with the new agent in relation to access to
the records of the principal, including but not limited to—
(a) making the records reasonably available (according to law); and
(b) facilitating the transfer of management functions between the
agent and the new agent.
8.40 Disclosure of potential agency
(1) This section applies if an agent—
(a) intends to act (or offers to act) for a principal in the management
of property; and
(b) is aware that another agent is or other agents are managing that
property for the principal.
(2) Unless the principal otherwise directs in writing, the agent must
disclose their intention to act (or offer to act) to the current agent or
agents.
8.41 Confirmation of specific instructions—property
management services
(1) This section applies to an agent before or when entering into an
agency agreement under which the agent will provide property
management services in relation to the leasing of residential property
or rural land.
Rules of conduct Schedule 8
Rules specific to licensed real estate agents and registered assistant real
estate agents
Part 8.3
Property management—real estate agents Division 8.3.3
Section 8.41
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(2) The agent must prepare for inclusion in the agency agreement written
confirmation of the extent of the agent’s authority to undertake the
following duties in relation to the management of the property and
any limitations on the agent’s authority to undertake those duties:
(a) obtaining references from prospective tenants, arranging
inspections of the property by prospective tenants and choosing
a tenant;
(b) entering into and signing a tenancy agreement (specifying the
term for which the property may be let);
(c) undertaking inspections of the property;
(d) effecting repairs to and maintaining the property or engaging
tradespersons to do so and limitations on expenditure that may
be incurred by the agent without obtaining the principal’s
approval;
(e) paying disbursements and expenses incurred in relation to the
agent’s management of the property;
(f) collecting rent;
(g) receiving, claiming and disbursing rental bond money;
(h) serving notices for breach of the tenancy agreement or to
terminate the tenancy agreement;
(i) undertaking the necessary steps to obtain vacant possession and
recover any money owing to the principal in relation to the
tenancy of the property;
(j) representing the principal in any tribunal or court proceedings in
relation to the tenancy of the property;
(k) paying accounts for amounts owing in relation to the property
(for example, water rates and charges, council rates,
maintenance expenses, and owners corporation levies);
(l) advertising the property for letting or re-letting;
Schedule 8 Rules of conduct
Part 8.3 Rules specific to licensed real estate agents and registered assistant real
estate agents
Division 8.3.3 Property management—real estate agents
Section 8.42
page 40 Agents Regulation 2003
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(m) reviewing the rent at the end of a tenancy.
(3) The written confirmation may be prepared and be included as part of
the agency agreement.
8.42 Confirmation of specific instructions—leasing of property
(1) This section applies to an agent before or when entering into an
agency agreement under which the agent will act for the owner of
residential property or rural land in relation to the entering into a lease
of the residential property or rural land.
(2) The agent must prepare for inclusion in the agency agreement written
confirmation of the extent of the agent’s authority to undertake the
following duties in relation to the entering into of the lease and any
limitations on the agent’s authority to undertake those duties:
(a) obtaining references from prospective tenants, arranging
inspections of the property by prospective tenants and choosing
a tenant;
(b) entering into and signing a tenancy agreement;
(c) undertaking an initial inspection of the property;
(d) collecting initial rent payment;
(e) receiving and disbursing rental bond money;
(f) advertising the property for letting.
(3) The written confirmation may be prepared and be included as part of
the agency agreement.
Rules of conduct Schedule 8
Rules specific to licensed stock and station agents and registered
assistant stock and station agents
Part 8.4
Sales Division 8.4.1
Section 8.43
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Part 8.4 Rules specific to licensed stock
and station agents and
registered assistant stock and
station agents
Division 8.4.1 Sales
8.43 Preliminary physical inspection of property to be
conducted by agent
(1) An agent must not act on behalf of a principal in relation to the sale
of any property, including livestock included in the sale, unless the
agent has conducted a preliminary physical inspection of the
property.
(2) This section does not apply to a sale solely of livestock.
8.44 Sales inspection report required for the property
(1) On completion of the inspection required by section 8.43, an agent
must prepare and give to the principal a sales inspection report for the
property.
(2) The report must be signed by the agent and state the following:
(a) the principal’s name and address;
(b) the date of preparation of the report;
(c) the agent’s name, business address and telephone number;
(d) a description of the property, including the address of the
property and any other details that may be necessary to enable
the property to be readily identified, and the size of the property
in hectares;
Schedule 8 Rules of conduct
Part 8.4 Rules specific to licensed stock and station agents and registered
assistant stock and station agents
Division 8.4.1 Sales
Section 8.44
page 42 Agents Regulation 2003
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(e) a description of the services provided to the property (for
example, power, phone, airstrip, closest schools, mail service,
closest rail service);
(f) information about the type of country (topography, soils, timber,
arable area, pasture development), water (irrigation, dams,
rainfall) and production capacity;
(g) a description of any fittings and fixtures that are to be included
in the sale of the property;
(h) a description of items included in the sale such as house, other
accommodation, grain storage, woolshed, sheep or cattle yards
or plant equipment;
(i) a description of other items to be included in the sale, such as
livestock;
(j) any terms and conditions of sale known to the agent (for
example, whether or not vacant possession is to be given);
(k) the agent’s recommendation about the most suitable method of
sale of the property;
(l) the agent’s estimate of the selling price (or price range) for the
property;
(m) details of any covenants, easements, defects, local government
notices or orders affecting the property that are known to the
agent;
(n) details of any special instructions about the marketing and
showing of the property;
Rules of conduct Schedule 8
Rules specific to licensed stock and station agents and registered
assistant stock and station agents
Part 8.4
Property management—stock and station agents Division 8.4.2
Section 8.45
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(o) the name, business address, telephone number and address for
service of documents of the principal’s solicitor.
8.45 Principal to be informed of an offer
(1) The agent must, tell the principal of all offers of purchase of a
property as soon as practicable after receiving the offer up until
exchange of contracts takes place.
(2) However, if the principal has instructed the agent in writing not to tell
the principal of an offer, the agent must tell the person who made the
offer that the principal will not be told about the offer.
(3) The agent may tell the principal of an offer in writing and must
identify the party who made the offer.
(4) If the principal is told orally, the agent must confirm the information
in writing.
(5) This section does not apply to bids made in the course of an auction.
8.46 Agent must not accept payment for a referral
An agent must not demand or accept a fee or other valuable
consideration for referring the principal to a buyers agent.
Division 8.4.2 Property management—stock and
station agents
8.47 Inspection report
(1) An agent must, as soon as practicable after entering into an agency
agreement in relation to the management of property, prepare and
give to the principal an inspection report for the property.
(2) The inspection report must be signed by the licensee and state the
following:
(a) the name and address of the principal;
Schedule 8 Rules of conduct
Part 8.4 Rules specific to licensed stock and station agents and registered
assistant stock and station agents
Division 8.4.2 Property management—stock and station agents
Section 8.48
page 44 Agents Regulation 2003
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Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au
(b) the address of the property;
(c) the date of preparation of the report;
(d) the licensee’s name, licence number and business address;
(e) a description of the exterior and interior condition of the
property, including fittings, fixtures, improvements and
anything provided with the property;
(f) details of any work still to be completed by the principal on the
property.
8.48 Inspection of property for rent
(1) An agent must accompany a prospective tenant on an inspection of
the property.
(2) An agent must not give the keys to a property to a prospective tenant,
even for a short time.
(3) Subsections (1) and (2) do not apply if the principal, and, if the
property is currently let, the tenant, have otherwise consented in
writing.
8.49 Maintenance or repairs of rental property
(1) An agent managing a rental property must promptly respond to and,
subject to the principal’s instructions, attend to all requests by a
tenant, for maintenance of, or repairs to, the property.
(2) If the principal has given an instruction that a repair not be carried
out, the agent must tell the principal if the principal’s failure to carry
out the repair would constitute a breach of any tenancy agreement in
force in relation to the property.
8.50 Breach of tenancy agreement
An agent managing a rental property must immediately notify the
principal in writing if the agent becomes aware of a tenant’s breach
of the tenancy agreement.
Rules of conduct Schedule 8
Rules specific to licensed stock and station agents and registered
assistant stock and station agents
Part 8.4
Property management—stock and station agents Division 8.4.2
Section 8.51
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Effective: 13/09/24
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Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au
8.51 Notifying tenant of appointment to sell
(1) This section applies if an agent managing a rental property is aware
that—
(a) the property is listed for sale; or
(b) an agent has been appointed to act on the sale of the property.
(2) The agent must immediately give the tenant written notice of—
(a) the intended sale of the property; or
(b) the appointment of the agent for the sale of the property and the
name and contact details of the agent.
8.52 Final inspection of property
An agent must take all reasonable steps to ensure that any final
inspection of the property, on vacation of the property, is conducted
in the presence of the tenant unless otherwise authorised by the tenant.
Example of reasonable steps
Reasonable steps by an agent would consist of contacting the tenant to discuss
suitable times for the inspection, arranging to meet at a particular time and place
and proceeding to meet the tenant at the arranged time and place.
8.53 Cooperation about records, access and transfer
(1) This section applies if an agent—
(a) is acting on behalf of a principal in the management of property;
and
(b) is advised by another agent that the other agent (the new agent)
has been engaged to act on behalf of that principal in the
management of that property.
(2) The agent must cooperate with the new agent in relation to access to
the records of the principal, including but not limited to—
(a) making the records reasonably available (according to law); and
Schedule 8 Rules of conduct
Part 8.4 Rules specific to licensed stock and station agents and registered
assistant stock and station agents
Division 8.4.2 Property management—stock and station agents
Section 8.54
page 46 Agents Regulation 2003
Effective: 13/09/24
R23
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Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au
(b) facilitating the transfer of management functions between the
agent and the new agent.
8.54 Disclosure of potential agency
(1) This section applies if an agent—
(a) intends to act (or offers to act) for a principal in the management
of property; and
(b) is aware that another agent is or other agents are managing that
property for the principal.
(2) Unless the principal otherwise directs in writing, the agent must
disclose their intention to act (or offer to act) to the current agent or
agents.
8.55 Confirmation of specific instructions—property
management services
(1) This section applies to an agent before or when entering into an
agency agreement under which the agent will provide property
management services in relation to the leasing of residential property
or rural land.
(2) The agent must prepare for inclusion in the agency agreement written
confirmation of the extent of the agent’s authority to undertake the
following duties in relation to the management of the property and
any limitations on the agent’s authority to undertake those duties:
(a) obtaining references from prospective tenants, arranging
inspections of the property by prospective tenants and choosing
a tenant;
(b) entering into and signing a tenancy agreement (specifying the
term for which the property may be let);
(c) undertaking inspections of the property;
Rules of conduct Schedule 8
Rules specific to licensed stock and station agents and registered
assistant stock and station agents
Part 8.4
Property management—stock and station agents Division 8.4.2
Section 8.56
R23
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Agents Regulation 2003
Effective: 13/09/24
page 47
Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au
(d) effecting repairs to and maintaining the property or engaging
tradespersons to do so and limitations on expenditure that may
be incurred by the agent without obtaining the principal’s
approval;
(e) paying disbursements and expenses incurred in relation to the
agent’s management of the property;
(f) collecting rent;
(g) receiving, claiming and disbursing rental bond money;
(h) serving notices for breach of the tenancy agreement or to
terminate the tenancy agreement;
(i) undertaking the necessary steps to obtain vacant possession and
recover any money owing to the principal in relation to the
tenancy of the property;
(j) representing the principal in any tribunal or court proceedings in
relation to the tenancy of the property;
(k) paying accounts for amounts owing in relation to the property
(for example, water rates and charges, council rates,
maintenance expenses, and owners corporation levies);
(l) advertising the property for letting or re-letting;
(m) reviewing the rent at the end of a tenancy.
(3) The written confirmation may be prepared and be included as part of
the agency agreement.
8.56 Confirmation of specific instructions—leasing of property
(1) This section applies to an agent before or when entering into an
agency agreement under which the agent will act for the owner or
residential property or rural land in relation to the entering into a lease
of the residential property or rural land.
Schedule 8 Rules of conduct
Part 8.4 Rules specific to licensed stock and station agents and registered
assistant stock and station agents