223Sale of premises

223 Sale of premises (1) A resident of a retirement village may— (a) set the sale price of the resident’s residential premises in the (b) appoint a selling agent of the resident’s choice. (2) The resident may, but need not, appoint the operator of the village as a selling agent if the operator is licensed as a real estate agent under the Agents Act 2003. (3) If the resident appoints the operator as selling agent of the resident’s residential premises, the resident may also, but need not, allow the operator to set the sale price of the premises.

(4) The operator must not make it a condition of entry into the village that the operator or someone appointed by the operator— (a) act as the selling agent of residential premises in the village; or (b) set the sale price of residential premises in the village. (5) If the operator purports to impose a condition mentioned in subsection (4), the condition is void. (6) The operator, or a person chosen by the operator, who is appointed as a selling agent under subsection (2) must— (a) notify the resident of all offers to buy the premises; and (b) if the resident asks—give the resident a report at the end of each stated month about the following in relation to that month: (i) the marketing program (including details of all advertising of the premises or the village); (ii) details about all inquiries received about the sale; (iii) the names and telephone numbers (or other contact details) of the people who made the inquiries (if the operator knows those details); (iv) details (including the asking price) of all other residential premises for sale in the village during that month. (7) If a person other than the operator is appointed as selling agent, the resident must give the operator written notice of the following: (a) the selling agent’s name and contact details; (b) the asking price for the premises; (c) any changes to— (i) the selling agent’s appointment or contact details; and (ii) the asking price for the premises.