What is a real estate agent?

Oct 10, 2022, 16:45 PM
Title : What is a real estate agent?

A real estate agent is a person who has received a licence from the Department of Commerce Consumer Protection to enter into various contractual relationships for real estate transactions on behalf of another person.

An act of the Western Australian Parliament- the Real Estate and Business Agents Act 1978 (the Act) makes provisions with respect to the regulation and supervision of certain persons acting in respect of real estate transactions or certain business transactions.

These real estate transactions include:

  • Introducing buyers to owners who wish to sell property.
  • Introducing property to buyers who wish to purchase property.
  • Management of property that is available to lease.
  • Preparing the contracts.

Only people who have received a licence can assist in the buying selling and management of property that they do not own.

To be granted a licence a person must have:

  • Completed formal educational requirements whereby the duties and obligations of the Act are fully understood.
  • Be of good character and repute and be a fit and proper person to hold a licence.
  • Have attained the age of 18 years.
  • Possess sufficient material and financial resources to enable the agent to comply with the requirements of the Act.
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