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Real Estate Agents Act 2008

Duties relating to real estate agency work - Disclosure of information as to transaction and conflicts of interest

133: Approved guide to be provided when contractual document provided

You could also call this:

"Real estate agents must give you a guide before you sign to sell a house"

Illustration for Real Estate Agents Act 2008

When you are given a document to sign for the sale of a residential property, the real estate agent must give you a copy of the approved guide first. The agent must also get you to sign a paper to say you have been given the guide. The approved guide is a document about selling residential property that has been approved by the Authority. If you are signing a document for the sale of a residential property, the agent gave you the document, and the agent must follow these rules. The agent or someone working for the agent must give you the guide and get your signature. This is a rule that agents must follow when you are selling a residential property through them. If the agent does not follow this rule, it does not affect the sale of the property. You can still sell the property, even if the agent did not give you the guide or get your signature. The rule is in place to help you understand the process of selling a 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=DLM1152127.

Topics:
Housing and property > Buying and selling homesMoney and consumer rights > Consumer protection
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Part 5Duties relating to real estate agency work
Disclosure of information as to transaction and conflicts of interest

133Approved guide to be provided when contractual document provided

  1. An agent must ensure that subsection (2) is complied with before a person signs a contractual document if the contractual document—

  2. relates to the proposed sale of a residential property in respect of which the agent is carrying out real estate work; and
    1. was provided to the person by the agent or by a licensee on behalf of the agent.

      1. The agent or a licensee on the agent’s behalf must have—

      2. provided the person with a copy of the approved guide; and
        1. 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.

              2. A contravention of this section does not affect the validity of any contract.

              Notes
              • Section 133(2)(b): amended, on , by section 9 of the Real Estate Agents Amendment Act 2013 (2013 No 129).