ESTATE AGENTS ACT 1980
Table of Provisions
- 1 Short title and commencement
PART I--INTRODUCTION
PART IIA--THE ESTATE AGENTS COUNCIL
- 6 Estate Agents Council
- 6A Objectives of the Council
- 6B Functions and powers of the Council
- 6C Meetings of the Council
PART IIB--ADMINISTRATION
- 7 Function of Authority
- 8 Powers of Authority to enter into agreements
- 9 Functions of Director
- 10 Powers of Director to enter into agreements
- 11 Delegation by Director
- 11A Delegation by Secretary
PART III--LICENCES
- 12 Estate agents to be licensed
- 13 Agents' representatives
- 13A Estate agents to be responsible for the acts of their representatives
- 13B Auctioneers of real estate
- 14 Eligibility to obtain licence
- 15 Licensing of corporations
- 16 Eligibility for employment as an agent's representative
- 16B Offence to aid unqualified person to be an agent's representative
- 16C Transitional provision concerning former sub‑agents
- 17 Application for estate agent's licence
- 19 Certain documents to be lodged by particular corporations
- 19A Consent to disclosure of information
- 20 Application to be referred to Director and Chief Commissioner
- 20A Provision of information for the purposes of this Act
- 21 Grant and effect of licence
- 21A Conditions of licence
- 21B Endorsement of licence
- 22 Automatic cancellation of licence on bankruptcy etc.
- 22A Delay of effect of certain convictions
- 23 Annual licence fee and statement
- 24 Extension of time
- 24A Failure to comply with section 23
- 24B If details given in application or annual statement change
- 24C No application for 2 years after refusal
- 24D Lost licence
- 25 Inquiries into estate agents
- 28 Inquiries into agents' representatives
- 28A Determination of Tribunal on inquiry
- 29 Cancellation of licences in other cases
- 29A Suspended and cancelled licences must be returned
- 29B Duties of agents and officers in effective control
- 29C Offence to procure contravention of section 29B
- 30 Management of estate agency office
- 30A Absence of estate agent or branch manager
- 31 Effect of disqualification
- 31A Person involved in Fund claim may regain licence etc. in exceptional circumstances
- 31B Bankrupt person may be allowed limited right to hold licence etc.
- 31C Person with criminal record may be allowed limited right to hold licence etc.
- 31CA Corporation may be allowed to hold licence despite disqualifying factors
- 31D Authority may impose conditions
- 31E Disability etc. of licensed estate agent
- 32 Application for review
- 33 The Register
- 35 Registered address
PART IV--AGENTS AND AGENTS' REPRESENTATIVES
- 38 Offence to pretend to be a licensed estate agent
- 41 Production of licence by agent
- 42 Advertising
- 43 Franchising agreements
- 44 Persons not to be employed by agents
- 47 Authorization of agents' representatives
- 47A Seller must be given estimated selling price
- 47AB Estimated selling price must be reasonable
- 47AC Determination of estimated selling price
- 47AD Director may issue guidelines
- 47AE Revision of estimated selling price
- 47AF Statements of information
- 47B False representation to seller or prospective seller
- 47C False representation to prospective purchaser
- 47D Director may require substantiation
- 48 Notice of commission sharing must be given
- 48A Agent must not retain any rebate
- 48B Rebates must be factored into costs of expenses
- 48C Treatment of non-monetary rebates
- 48D Repeated breaches within 12 months
- 48E Right of recovery of rebates
- 49A Offence not to give certain information about commission
- 50 Commission
- 51 Statement concerning finance only to be given if finance promised
- 52 Statement to be given on sale of small business
- 53 Copy of contract etc. to be delivered to person signing
- 53A Exemption concerning the Legal Profession Act 2004
- 54 Default time limit on sole agency agreements
- 55 Restriction on agent purchasing property
- 55A Prohibition on charging or retaining of commission
- 56 Certain commissions illegal
- 56A Power of Director to investigate disputes
- 56B Powers of Tribunal in relation to disputes
PART V--BUILDERS AND SUBDIVIDERS OF LAND
- 57 Representation etc. by builders and subdividers of land
PART VI--ACCOUNTS, AUDIT AND MONITORING OF ESTATE AGENCY BUSINESS
Division 1--Accounts and audit
- 58 Definitions
- 58A Agents licensed interstate
- 59 Trust money
- 59A Unidentified trust money
- 60 Secretary's power to enter into arrangements with financial institutions
- 62 Liability of principal for certain acts etc. of agents' representatives
- 63 Duty to keep accounts of trust money received etc.
- 63A Director's supervisory role in audits
- 64 Annual audit of trust accounts
- 64A Audit ordered by Director
- 64B Audit where estate agent's business ceased during financial year
- 65 Variation of date of audit
- 66 Qualified auditors
- 67 Non-disclosure by auditors
- 68 Right of persons beneficially interested to obtain information
- 69 Agents having no accounts to audit
Division 2--Monitoring of estate agency business
- 70 Definitions
- 70A Production of identity card
- 70B Accounts and other documents available for inspection and audit
- 70C Estate agent to produce documents and answer questions
- 70D Third parties to produce documents and answer questions relating to estate agent's business
- 70E Ministers, police and public authorities to produce information to inspectors
- 70F Certain other specified persons or bodies to produce information
- 70G Powers on production of documents
- 70H Order requiring supply of information and answers to questions
- 70I Entry or search with consent
- 70J Entry without consent or warrant
- 70K Search warrants
- 70L Announcement before entry
- 70M Details of warrant to be given to occupier
- 70N Seizure of things not mentioned in the warrant
- 70O Embargo notice
- 70P Copies of seized documents
- 70Q Retention and return of seized documents or things
- 70R Magistrates' Court may extend 3 month period
- 70S Requirement to assist inspector during entry
- 70T Refusal or failure to comply with requirement
- 70U Protection against self-incrimination
- 70V Offence to give false or misleading information
- 70W Application of provisions relating to inspections
- 70WA Powers of court if requirement to produce information not complied with
- 70X Service of documents
- 70Y Confidentiality
PART VII--VICTORIAN PROPERTY FUND
- 71 Definitions
- 72 Victorian Property Fund
- 73 Moneys constituting Fund
- 75 Payments out of Fund
- 76 Application of excess money in Fund
- 79 Application of Fund
- 80 Right to claim in respect of pecuniary loss
- 81 Claims against the Fund
- 83 Power of Secretary to require production of securities
- 84 Subrogation of Secretary to rights etc. of claimant upon payment from Fund
- 86 Provision where Fund insufficient to meet payment out of it
- 87 Secretary may enter into contract of insurance or indemnity for purposes of Act
- 88 Application of insurance moneys
- 89 Freezing of trust accounts of defaulting agents
- 90 Deficiency in trust account
- 91 Wrongful conversion and false accounts
PART VIII--MISCELLANEOUS
- 92 Certificate as evidence
- 92A Registrar may waive fees
- 92B Verification of details supplied to the Authority
- 92C Complaints concerning estate agents etc. are privileged
- 93 Furnishing incorrect particulars
- 93A Application of Australian Consumer Law and Fair Trading Act 2012
- 94 Offences
- 94A Profit to be forfeited in case of unlicensed trading etc.
- 95 Prosecutions
- 95A Power to serve a notice
- 95B Form of notice
- 95E Further proceedings concerning infringement notices
- 96 Applications and notices in the case of corporation
- 97 Saving of contracts and civil liability
- 97A Protection for things done under this Act
- 98 Retention of documents
- 98A Offence to destroy documents required by the Act
- 99 Regulations
PART IX--TRANSITIONAL AND SAVINGS
Division 1--Consumer Affairs Legislation Amendment Act 2010
- 101 Rural branch manager's licence
- 102 Authorised financial institutions
Division 2--Police and Justice Legislation Amendment (Miscellaneous) Act 2016
- 103 Certificates given under section 16