1 1 Title These rules are the Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012. 2 Commencement These rules come into force on 8 April 2013. 3 Scope and objectives 3.1 These practice rules setting out a code of professional conduct and client care have been prepared by the Real Estate Agents Authority (the Authority). They constitute the Professional Conduct and Client Care Rules required by section 14 of the Real Estate Agents Act 2008. 3.2 These practice rules set out the standard of conduct and client care that agents, branch managers, and salespersons (collectively referred toas licensees) are required to meet when carrying out real estate agency work and dealing with clients. 3.3 These practice rules are not an exhaustive statement of the conduct expected of licensees. They set minimum standards that licensees must observe and are a reference point for discipline. A charge of misconduct or unsatisfactory conduct may be brought and dealt with despite the charge not being based on a breach of any specific rule. 3.4 These practice rules must be read in conjunction with the Act and regulations, and do not repeat duties and obligations that are included in the Act or regulations. 4 Interpretation 4.1 In these rules,— - Actmeans the Real Estate Agents Act 2008. - customer means a person who is a party or potential party to a transaction and excludes a prospective client and a client. - prospective client means a person who is considering or intending to enter into an agency agreement with an agent to carry out real estate agency work. - regulations means regulations made pursuant to the Act. 4.2 Unless the context otherwise requires, terms used in these rules have the same meaning as in the Act. 5 Standards of professional competence 5.1 A licensee must exercise skill, care, competence, and diligence at all times when carrying out real estate agency work. 5.2 A licensee must have a sound knowledge of the Act, regulations, rules issued by the Authority (including these rules), and other legislation relevant to real estate agency work. 6 Standards of professional conduct 6.1 A licensee must comply with fiduciary obligations to the licensee’s client. 6.2 A licensee must act in good faith and deal fairly with all parties engaged in a transaction. 6.3 A licensee must not engage in any conduct likely to bring the industry into disrepute. 6.4 A licensee must not mislead a customer or client, nor provide false information, nor withhold information that should by law or in fairness be provided to a customer or client. 7 Duty to report misconduct or unsatisfactory conduct 7.1 A licensee who has reasonable grounds to suspect that another licensee has been guilty of unsatisfactory conduct1 may make a report to the Authority. 7.2 A licensee who has reasonable grounds to suspect that another licensee has been 1 Unsatisfactory conduct is defined in the Act: see section 72.
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