Case study 3

Rashid has engaged Rita to sell his property. Rita's brother, Marco, is looking for a house in the area and after viewing the house; she believes that the house is exactly what Marco is looking for. She rings Marco to tell him about the house.

Based on above case study, answer below queries referring to Acts and regulations relevant to your state Victoria, Australia:

a) Which section of the Act relates to an agent purchasing property?

b) Outline the requirements of the section?

c) Do the requirements of this section apply to Rita's situation? Explain why/why not.

d) Are there any exemptions to the section requirements? If yes, what are they?

e) What penalties apply for breach of the section?

f) What advice would you give Rita in relation to her actions in this matter?