REIQ Best Practice Guidelines v03.23 - Flipbook - Page 62
7. RESEARCH
(a) Member Buyer’s Agent should conduct
research about a property to ascertain all facts
and matters which may be material to their
Client’s purchase of that property.
(b) Member Buyer’s Agents should use credible
and reliable sources to conduct their research
of a property or neighbourhood. For example,
by using government and authority search
databases and sources.
8. APPROACHING PROPERTY OWNERS
AND SALES AGENTS
(a) Member Buyer’s Agents may contact a
property owner about a property if:
i.
ii.
iii.
the Member Buyer’s Agent has a
genuine belief that the property meets
or reasonably meets their Client’s
instructions;
the property owner has not listed the
property for sale with a Sales Agent;
and
the property owner
has not
subsequently asked the Member
Buyer’s Agent to refrain from
contacting that property owner.
(b) Member Buyer’s Agents should communicate
with property owners in a professional
courteous manner and should not harass
property owners.
(c) Subject to Client instructions, Member Buyer’s
Agents should not disclose the name and
contact details of their Client to a property
owner, unless it is for the purpose of entering
a contract of sale.
(d) Member Buyer’s Agents should not disclose
the name and contact details of a property
owner to their Client, unless it is for the
purpose of entering a contract of sale.
REIQ BEST PRACTICE GUIDELINES
V08.23
(e) If a property is listed with a Sales Agent
employed by the same agency as the Member
Buyer’s Agents and the Client wishes to
purchase that property, the Member Buyer’s
Agents must:
i.
disclose to the Client that the Sales
Agent is employed by the same agency
as the Member Buyer’s Agents by
using a Form 8 Disclosure to Potential
Buyer; and
ii.
request the Sales Agent to provide the
same disclosure to their Client.
Note: Member Buyer’s Agents have a fiduciary
duty to act in the best interests of their Client at
all times.
9. REPRESENTATIONS AND WARRANTIES
Member Buyer’s Agents must not make any
representations which are considered:
(a) false or misleading;
(b) legal advice or financial advice; or
(c) outside of the knowledge and expertise of the
Member’s Buyers Agent; or
(d) give any warranties, as to matters relating to a
property or the property market, for example:
i.
ii.
forecasting what a property may be
worth in the future, what the capital
growth may be and what future rental
income a Client can expect (excluding
advice about the current market value
of rent for the property);
the financial viability of the Client’s
purchase or planned use of the
property;
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