Fair Trading Inspections

NSW Fair Trading are authorised to attend your agency’s premises without warning during reasonable business hours in order to inspect the records held by your business, as well as issue penalty notices for breaches of the PSBA. Turning them away is not your best move, in fact we suggest that you give your full cooperation and attention to their enquiries, keeping them on side and being as compliant as possible. If you seek to reschedule their visit, this can often cause the inspection to be more thorough. Please watch our short video below for more information about Fair Trading inspections.

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Declaring Agents Interest

The Property, Stock and Business Agents Act (PSBA) provides that if a licenced agent is selling a property they own through the agency at which they work, they must disclose in all marketing materials that there is an “Agents Interest”.

If the property being sold is owned by an employee of the Agency that is not a Licenced Agent, for example a Certificate Holder, there is no requirement in the PSBA to disclose Agents Interest in marketing materials for the sale of that property.

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