3 9.8 A licensee must not take advantage of a prospective client’s, client’s, or customer’s inability to understand relevant documents where such inability is reasonably apparent. 9.9 A licensee must not submit an agency agreement or a sale and purchase agreement or other contractual document to any person for signature unless all material particulars have been inserted into or attached to the document. 9.10 A licensee must explain to a prospective client that if he or she enters into or has already entered into other agency agreements, he or she could be liable to pay full commission to more than 1 agent in the event that a transaction is concluded. 9.11 On notice of cancellation of an agency agreement being given or received by the agent under the agreement, the agent must advise the client, in writing, of the name of each customer (if any) in respect of whom the agent would claim a commission, were the customer to conclude a transaction with the client. 9.12 An agent must not impose conditions on a client through an agency agreement that are not reasonably necessary to protect the interests of the agent. 9.13 When authorised by a client to incur expenses, a licensee must seek to obtain the best value for the client. Conflicts of interest 9.14 A licensee must not act in a capacity that would attract more than 1 commission in the same transaction. 9.15 A licensee must not engage in business or professional activity other than real estate agency work where the business or activity would, or could reasonably be expected to, compromise the discharge of the licensee’s obligations. Confidentiality 9.16 A licensee must not use information that is confidential to a client for the benefit of any other person or of the licensee. 9.17 A licensee must not disclose confidential personal information relating to a client unless— (a) the client consents in writing; or (b) disclosure is necessary to answer or defend any complaint, claim, allegation, or proceedings against the licensee by the client; or (c) the licensee is required by law to disclose the information; or (d) the disclosure is consistent with the information privacy principles in section 6 of the Privacy Act 1993. 9.18 Where a licensee discloses information under rule 9.17(b), (c) or (d), it may be only to the appropriate person or entity and only to the extent necessary for the permitted purpose. 10 Client and customer care for sellers’ agents 10.1 This rule applies to an agent (and any licensee employed or engaged by the agent) who is entering, or has entered, into an agency agreement with a client for the grant, sale, or other disposal of land or a business. Appraisals and pricing 10.2 An appraisal of land or a business must— (a) be provided in writing to a client by a licensee; and (b) realistically reflect current market conditions; and (c) be supported by comparable information on sales of similar land in similar locations or businesses. 10.3 Where no directly comparable or semicomparable sales data exists, a licensee must explain this, in writing, to a client. 10.4 An advertised price must clearly reflect the pricing expectations agreed with the client.
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