REIQ Best Practice Guidelines v03.23 - Flipbook - Page 61
(c) viewing a property on behalf of the Client;
(d) preparing an offer or expression of interest:
For example:
i.
if the Member Buyer’s Agent will
prepare an offer or expression of
interest on behalf of the Client; and
ii.
if the Member Buyer’s Agent will
provide advice about conditions the
Client may wish to include in their offer
or expression of interest (without
drafting conditions or providing legal
or financial advice).
(e) matters relating to negotiations on behalf of
the Client:
For example:
i.
if the Member Buyer’s Agent will
engage in negotiations on behalf of
the Client;
ii.
how and when the Member Buyer’s
Agent will obtain instructions for
negotiating on behalf of the Client;
and
iii.
if the Member Buyer’s Agent has
authority to make certain decisions
without approval from the Client.
(f)
entering a contract to purchase a property:
For example:
i.
if the Member Buyer’s Agent will
review the particulars of the contract
on behalf of the Client (provided they
are not providing legal or financial
advice);
ii.
how the Member Buyer’s Agent will
facilitate the signing of the contract;
and
iii.
if the Member Buyer’s Agent will
attend any inspections the Client is
entitled to once a contract has been
entered.
4. AUTHORITY
Member Buyer’s Agent should obtain a signed and
completed Buyer Authority and Instructions from
the Client if they are authorised to do anything on
behalf of a Client as specified above.
5. COMMISSION
Member Buyer’s Agents must clearly state in the PO
Form 6:
(a) the commission payable in compliance with
guideline 11; and
(b) when the commission is payable by the Client.
6. LOCATING A PROPERTY
Member Buyer’s Agents should use reasonable
endeavours to present a property to their Client, if
that property reasonably matches their Client’s
instructions or they otherwise believe, using their
knowledge and expertise, that the property is
suitable to meet their Client’s purpose.
REIQ BEST PRACTICE GUIDELINES
V08.23
61
