Case study

A

Whilst you have been away on annual leave, the Principal of your agency has exchanged contracts to personally purchase one of your listings. You do not believe that your vendor is aware of the fact that it is your employer, as it has been purchased in a company name and there is no declaration on the file or on the copy of the contract in the file. The cooling off period will expire at 5pm today.

A1,

Identify and explain the ethical issue in this scenario, quoting any relevant legislation:

A2,

How would you approach this with your Agency Principal to express your concern? Ensure you detail at least 2 communication strategies you would use:

A3,

What steps would you take to ensure this sale can proceed ethically, and how would you appropriately communicate this to the vendor?

A4,

List two (2) penalties that could apply to the agency if you were to ignore what has happened and let the sale proceed.

B

click the link below to answer the following question

https://www.caselaw.nsw.gov.au/decision/549f62ef3004262463a270ec

B1,

Identify and explain the unethical real estate practice that has occurre.

B2,

Explain how the unethical practice relates to consumer protection requirements.

B3,

Identify and explain the outcome including any penalties imposed on the agency and the individual agents

B4,

(If this case occured in Victoria, Australian ) List, if any, the standards of conduct and sources of specialist advice that the Agent could have referred to, to help rectify the unethical practice.