Practice Regulation Section 10: Inspection of Residential Properties
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Questions and Answers

A licensed estate agent must enter into an estate agency agreement with a vendor within 14 working days after accepting the vendor's instruction to sell or lease the residential property concerned.

False

If a licensed estate agent acts for a purchaser, they must enter into an estate agency agreement with the purchaser after signing an SPA or a lease of the property, whichever is later.

False

It is not necessary for a licensee to explain to a person who is not legally represented the different types of agency appointment in the estate agency agreement.

False

A licensee is not required to explain every term and condition in the estate agency agreement to ensure the person is aware of their rights and obligations under the agreement.

<p>False</p> Signup and view all the answers

It is recommended that a person seek legal advice if they understand every term and condition in the estate agency agreement.

<p>False</p> Signup and view all the answers

A licensed estate agent has 10 working days after accepting the vendor's instruction to sell or lease a property before entering into an estate agency agreement.

<p>False</p> Signup and view all the answers

A licensed estate agent should enter into an estate agency agreement with a purchaser before advertising the property for sale or lease.

<p>False</p> Signup and view all the answers

Before signing an SPA or a lease of the property, a licensed estate agent must enter into an estate agency agreement with a purchaser.

<p>True</p> Signup and view all the answers

If a person is legally represented, it is not necessary for a licensee to explain every term and condition in the estate agency agreement to ensure they are aware of their rights and obligations.

<p>False</p> Signup and view all the answers

It is not required for a licensed estate agent to recommend seeking legal advice to a person who does not understand any explanations provided about the estate agency agreement.

<p>False</p> Signup and view all the answers

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