Victorian Consolidated Legislation

Estate Agents Act 1980 - SECT 48B

Rebates must be factored into costs of expenses

48B. Rebates must be factored into costs of expenses



(1) An estate agent must not seek to obtain from the client an amount for any
outgoings or proposed outgoings (the expenses) that is more than the amount
paid, or payable, by the agent for those expenses.

Penalty: 60 penalty units.

(2) In determining the amount paid, or payable, by the agent, any amount of
rebate received or receivable by the agent in respect of the expenses must be
taken into account by the agent.

(3) If it is not possible to determine the final amount paid, or payable, for
the expenses at the time the agent seeks payment for those expenses, the agent
may estimate the amount.

(4) If an estimate is made and paid, and the agent becomes aware that the
amount paid in respect of the expenses is less than the estimate, the agent
must immediately pay any difference between the estimate and the amount paid
by the agent to the client.

Penalty: 60 penalty units.

(5) For the purposes of this section, an amount of rebate is receivable by an
agent only if the agent has an accrued right to receive the amount at the time
the agent seeks payment in respect of the expenses in respect of which the
rebate is to be received - the amount is not receivable if at that time the
receipt of the rebate is contingent on the happening of an event that has not
occurred.