This question is raised quite often at PTS. Here is a brief outline to help make this clearer:   Real Estate Registration In NSW, QLD the ACT, to work in the real estate industry you must hold a real estate registration certificate. If held, you are able to work in an agency, under your employer's licence as a salesperson or property...

Real estate agents have been put on notice by Fair Work, with the workplace regulator announcing it will audit 125 agencies in Queensland as a follow up to its campaign last year which found the majority of principals had failed to lodge written staff agreements with the Queensland Property Industry Registry (QPIR). Fair Work inspectors are planning...

Conditional means that the contract relies on certain "conditions" to be met before it is binding. Once the conditions have been met and you are satisfied then you are bound to proceed with the purchase of the property/land. The most common conditions are finance and building and pest inspections. Normally there will be a timeframe that you have to meet...

An 18-month jail sentence has been handed down to a property manager formerly employed by a Sydney commercial property management company. The judgment was delivered to Paul Francis Charles Stevens, who was convicted of seven counts of obtaining financial advantage by deception and sentenced to the jail term, suspended on him entering into a bond. Fair Trading Commissioner Rod...

Mistake of Fact: An unintentional error which does not state the true facts or conditions of the contract and if it is curable and agreeable to the parties does not void a contract. Unintentional failure. Negligence: Either the failure to act as a reasonable prudent person or the performance of an act that would not be done by...

The Real Estate Institute of New South Wales (REINSW) has warned agents against claiming to be a ‘buyer’s agent’ unless they deal exclusively with buyers. Although REINSW has said they are an important service provider, the area needs to be clearly defined. “It’s obvious there exists a need for a service to assist time-poor and inexperienced homebuyers and investors...

A legal concept that holds that information communicated to an agent is communicated to the principal because in the client/agent relationship nothing is held back because it was the duty to report the information to the principal

Recruitment in the real estate industry often sees a vast difference to other industries. The real estate industry in Australia is a lucrative one at the best of times. It rivals retail and hospitality, and dominates over many others. It’s for this reason, a lot of focus needs to be placed on recruitment in the industry and...

When running any business, it is of vital importance to have a plan in place. Business plans are formal statements of your business goals and what your plan is for reaching those goals. They are used as a decision making tool and there is no "standard" content for a plan, rather it is determined by the goals and the audience....

A covered passage open on two sides connecting a house with a garage or other parts of the house.