Consumer Protection

2 October

The Department of Commerce (the Department) would like to remind settlement agents about the legislation requirements in relation to rewards for referrals.

Section 44(7) of the Settlement Agents Act 1981 (the SA Act) prohibits any person, including a real estate agent or sales representative, from directly or indirectly demanding, receiving or holding any reward for referring business involving the performance of functions of a settlement agent.

2 October

The Department of Commerce (the Department) would like to remind agents and sales representatives about the legislation requirements in relation to rewards for referrals.

Section 44(7) of the Settlement Agents Act 1981 (the SA Act) prohibits any person, including a real estate agent or sales representative, from directly or indirectly demanding, receiving or holding any reward for referring business involving the performance of functions of a settlement agent.

This schedule must included with retirement village residence contracts entered into on or after 1 October 2015.  The information generally reflects the termination rights and responsibilities under retirement villages law.

24 September 2015

A Kalgoorlie real estate agency and its licensee have been reprimanded, fined $8,000 and the agent suspended from holding a licence and triennial certificate for nine months by the State Administrative Tribunal (SAT) after making an illegal withdrawal from the agency’s trust account.

18 September 2015

A Mandurah real estate agency and one of its sales representatives have been fined for failing to disclose important information about a property prior to its sale.

LBC Holdings Pty Ltd, trading as Harcourts Mandurah, was fined $3,000 and sales representative Craig John Timmens was fined $1,500 by the State Administrative Tribunal in a settlement of disciplinary action taken by Consumer Protection. The agency and sales representative were ordered to pay costs of $1,000.

8 September 2015

The Consumer Protection Division of the Department of Commerce (Consumer Protection) would like to highlight a Secret Harbour real estate agent’s vigilance in identifying an overseas finance scam affecting two potential buyers attempting to purchase Western Australian properties.

17 August 2015

Settlement agents are required to have their trust accounts for the year 1 July 2014 to 30 June 2015, or part thereof, audited by an auditor approved by the Consumer Protection Division of the Department of Commerce (Consumer Protection).

The auditor must provide the audit report to Consumer Protection by 30 September 2015.

31 August 2015

Amendments to the Residential Tenancies Regulations 1989 (the RT Regulations) have been gazetted in the Government Gazette of 21 August 2015. The changes come into effect on various dates, with further detail on each of the changes being provided below.

Agents should advise the Commissioner for Consumer Protection as soon as practicable, or within five working days, when a trust account is:

7 August 2015

The Department of Commerce (the Department) would like to advise settlement agents of an increase in the information contained within the Property Interest Report (PIR) issued by Landgate.

Typically there are many factors that a buyer considers when purchasing a property. Some of these relate to the future plans or restrictions to a property, which are known as interests and are contained within the PIR.