REIQ Best Practice Guidelines v03.23 - Flipbook - Page 26
24. OTHER SPECIAL CONDITIONS
(a) Member Sales Agents must not provide any
advice to the Client or a prospective buyer
about the parties’ obligations and rights under
special conditions.
(b) Member Sales Agents should not hinder a
prospective buyer from obtaining information
about the property, Client or body corporate to
the extent that the buyer is entitled to such
information under the terms of the contract or
as reasonably expected to be provided under a
condition of the contract.
25. NEGOTIATIONS DURING CONTRACT
(a) If either party tries to negotiate the terms of an
signed contract, Member Sales Agents should
refer the parties to their legal representatives
to formalise any negotiations.
(b) If Member Sales Agents engage in negotiations
with the parties, they should provide a warning
to parties that any agreements made between
themselves via the Member Sales Agent may
not be binding unless they are formalised by
the parties’ legal representatives.
28. HANDOVER
Member Sales Agents must not:
(a) handover the keys or devices for the property;
(b) release the buyer’s deposit; or
(c) account for their commission;
until they have received a notice in writing from all
parties’ legal representatives confirming that
settlement has been completed and the relevant
authorities have been issued.
29. EARLY POSSESSION
(a) If a Member Sales Agent receives a request for
early possession from the buyer, the Member
Sales Agent should direct the Client and
buyer to seek legal advice from their
legal representatives. Any negotiations should
be conducted by the legal representatives.
(b) If a Member Sales Agent receives a notice in
writing from both parties that they have
agreed for the buyer to take early possession
of the property, the Member Sales Agent may
handover the keys and devices relating to that
property as required in the notice.
26. INSPECTIONS ALLOWED UNDER THE
CONTRACT
Member Sales Agents must facilitate an inspection
if the buyer is contractually entitled to such
inspection, including issuing or requesting the
Client’s Property Manager to issue an Entry Notice
to the tenant if required.
27. SETTLEMENT
Member Sales Agents should keep informed of the
progress of settlement by making enquiries with
the Client’s and buyer’s legal representatives. The
Member Sales Agent should do anything
reasonably necessary to assist with the facilitation
of settlement, within the scope of their
Appointment.
REIQ BEST PRACTICE GUIDELINES
V08.23
26