A real estate sales representative who is a shareholder and director of a company that has a financial interest in a sale transaction (whether through potential gain or potential liability) holds an 'interest' within s 64(2) of the Real Estate and Business Agents Act 1978 (WA). The statutory definition of 'transaction' in s 4 does not confine s 64 to completed sales; a transaction exists from the time an agency agreement is entered into for the purpose of effecting a sale. Prior written consent under s 64(2) requires a fully informed and actual written consent specifically directed to the interest, and cannot be constructed from oral evidence of knowledge combined with a signature on a related agreement.
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