NEED HELP??

Im employed as a real estate sales person and hold a certificate of registration. In early December, a seller engaged in our agency to sell a unit complex of 30 residential units by signing an exclusive selling agency agreement. My sister who is a finance broker is a shareholder in a superannuation company which wants to invest in this unit complex by buying one unit. The superannuation company managing director contacts my licensee and asks for me to undertake the sale negotiation because of my reputation. The superannuation company managing director is not aware my sister is a shareholder in the company.

What advice would i give my licensee concerning beneficial interest and what documentary process should i undertake?
The opinions expressed here are those of the individual and not those of Homely.com.au.
Report
2
people following this discussion

1 Comment

I found this on the legislation.nsw.gov.au website, not sure if it relates to your question?

(2) Disclosure to a person is effective for the purposes of subsection (1) only if:
(a) it is given to the person in a form approved by the Director-General, and
(b) it is acknowledged by the person in writing on the form, and
(c) it is given and acknowledged at the time the agent refers the client or prospective buyer to a person for professional services associated with the sale or purchase of land and before a contract for the sale of the residential property is entered into.

The opinions expressed here are those of the individual and not those of Homely.com.au.
Report

Rentals in Sydney (CBD), NSW 2000