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Real Estate Agents Act 2008

Duties relating to real estate agency work - Agency agreements

127: Approved guide to be provided before agency agreement for residential property signed

You could also call this:

"Get a guide from the agent before signing a contract to sell your home"

Illustration for Real Estate Agents Act 2008

You are about to sign an agency agreement for the sale of residential property. The agent must give you a copy of the approved guide before you sign. The agent must also get a signed acknowledgment from you that you have been given the approved guide. The approved guide is about the sale of residential property and has been approved by the Authority. You need to know what residential property means in this context. Residential property does not include property that is being sold with other properties in the same area. If the agent does not follow these rules, it does not affect the validity of the agency agreement. The agent has to follow these rules when you sign the agency agreement. This is to make sure you have the right information before you make a decision. The rules are in place to protect you when you are selling residential property.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1152118.

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Housing and property > Buying and selling homesMoney and consumer rights > Consumer protection
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Part 5Duties relating to real estate agency work
Agency agreements

127Approved guide to be provided before agency agreement for residential property signed

  1. An agent must not enter into an agency agreement with a person for the sale of residential property unless the agent or a licensee on the agent’s behalf—

  2. has provided the person with a copy of the approved guide before the agreement is signed by or on behalf of the person; and
    1. has received a signed acknowledgment from the person that the person has been given the approved guide.

      1. In this section—

        approved guide means a guide that—

        1. is about the sale of residential property:
          1. has been approved by the Authority for the purposes of this section

            residential property does not include any property that—

            1. has been developed with other properties in a continuous area; and
              1. is proposed to be sold or otherwise disposed of by a vendor who also proposes to sell or otherwise dispose of, or who has sold or otherwise disposed of, some or all of those other properties.

              2. A contravention of this section does not affect the validity of the agency agreement.