Representation of price of property—real estate agent

In force

(1)

This section applies if a person wanting to sell residential property asks a real estate agent for information about the price at which residential property that is to be, or may be, offered for sale, whether or not by auction, (offered property) is likely to be sold.

(2)

If the real estate agent decides to give the person the information, the real estate agent must, when giving the person the information, give the person—

(a)

a copy of a comparative market analysis for the offered property; or

(b)

if a comparative market analysis can not be prepared for the offered property, a written explanation showing how the real estate agent decided the market value of the property.

Maximum penalty—540 penalty units.

This Act’s bill:Explanatory memorandum Second reading speech

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215 Representation of price of property—real estate agent