Victorian Consolidated Legislation

Estate Agents Act 1980 - SECT 48A

Agent must not retain any rebate

48A. Agent must not retain any rebate



(1) An estate agent who is engaged or appointed to do any estate agency work
for a person (the client) is not entitled to retain any amount the agent
receives from another person as a rebate in respect of-

   (a)  any outgoings; or

   (b)  any prepayments made by the client in respect of any intended
        expenditure by the agent on the client's behalf; or

   (c)  any payments made by the client to another person in respect of the
        work.

(2) On receiving any amount of rebate referred to in subsection (1), the agent
must immediately pay the amount to the client.

Penalty: 60 penalty units.

(3) Despite subsection (2), the agent does not have to pay to the client an
amount of rebate if the agent, in anticipation of receiving the rebate, has
already given that amount to the client either directly or by reducing the
amount charged for the outgoing or prepayment to which the rebate relates.