Scenario

There are times when industry practitioners are not clear on how to best navigate tricky situations in line with current legislation and ethical conduct standards.

Lucille has been most impressed with your understanding of legal and ethical practice. She asks you to create some reports for distribution to the team at Phantom Realty.

Read the https://www.qld.gov.au/law/laws-regulated-industries-and-accountability/queensland-laws-and-regulations/fair-trading-services-programs-and-resources/fair-trading-latest-news/media-statements/2019/port-douglas-resident-letting-agent-fined-$12,000-for-misleading-clients

Office of Fair Trading 4/12/19 - Port Douglas resident letting agent fined $12,000 for misleading clients. Prepare an internal report for distribution to the team.

REPORT Ethical Practice in REAL Estate.

1. Outline the unethical practice?

2. How did this unethical practice relate to consumer protection requirements?

3. Provide one risk these actions posed to each of the following: -Clients / Community

-Agency

-Industry

-Representative

4. Describe how abiding by the REIQ Standards of Business Practice would have reduced the risk of this breach.

(https://members.reiq.com/REIQ_Docs/About_Us/REIQ_Standards_of_Business_Practice_v7.pdf)

5. What could have been done to respond to this situation where an ethical breach occurred?

6. Provide an impact on the consumer and one impact on the agency?

7. What was the penalty for the offence?

Please use legislations in Queensland, Australia.