In accordance with Clause 9 of Schedule 1 of the NSW Property, Stock and Business Agents Regulation 2014 (known as the Rules of Conduct), it states that an agent must act in accordance with a client’s instructions unless it would be unlawful to do so. So what does this mean for agents? When an agent signs a Managing Agency Agreement with a landlord, they ensure that all owners are listed on the agreement and ALL owners sign the agreement. If an owner (be that one, two or numerous people) wish to make changes to any integral points of information on that agreement, such as bank account details, telephone numbers, email addresses – it is absolutely essential for protection purposes that ALL owners of the property are contacted and the changes are confirmed. However, in situations such as general repairs and maintenance issues, it is not efficient from a workflow perspective to contact ALL owners of a property. This means that at the time of listing the property and signing the Managing Agency Agreement, that you as an agent should confirm which of the owners has the authority to be the primary contact and what authority they have to make decisions. This should be included into the agency agreement and re-confirmed at the re-signing of future agreements. Rosy Sullivan | College Principal & Director
Australian College of Professionals - RTO 91513.
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