49Proposed contract for sale of residential property—the Act, s 63

49 Proposed contract for sale of residential property—the Act, s 63

49 Proposed contract for sale of residential property—the Act, s 63

The Act, section 63 does not apply to a real estate agent if—

(a) the agent offers residential property for sale under an agreement between the agent and another licensee to share commission, fees, gains or rewards in relation to the sale, and

(b) the other licensee—

(i) has entered into an agency agreement with the vendor of the property, and

(ii) complies with the Act, section 63 in relation to the property.