Victorian Consolidated Legislation

Estate Agents Act 1980 - SECT 48

Notice of commission sharing must be given

48. Notice of commission sharing must be given



(1) This section applies if an estate agent agrees to share any commission to
which he or she becomes entitled in respect of any estate agency work with a
person who is not-

   (a)  a licensed estate agent or an agent's representative in his or her
        employ; or

   (b)  a licensed estate agent with whom he or she is in partnership.

(2) Before obtaining a person's signature to an engagement or appointment to
do any estate agency work on behalf of the person, the agent must ensure that
the person is given a statement that complies with subsection (3).

Penalty: 100 penalty units.

(3) The statement-

   (a)  must state that any commission the agent is entitled to under the
        engagement or appointment will be shared with one or more other
        people; and

   (b)  must identify by name every person who is entitled to share the
        commission with the agent; and

   (c)  must contain any other details required by the regulations; and

   (d)  must be in a form approved by the Director.

(4) An estate agent must not pay to another person any share of a commission
that the agent has obtained in respect of any estate agency work if the agent
failed to comply with subsection (2) in respect of the work.

Penalty: 100 penalty units.

(5) Nothing in this section applies to any engagement or appointment entered
into before the date of commencement of section 35 of the Estate Agents and
Sale of Land Acts (Amendment) Act 2003.