The activities of property agents, their salespeople and on-site residential property managers are regulated under the Property, Stock and Business Agents Act 2002. All real estate agents (including a buyer’s agent), stock and station agents, business agents, strata managing agents and on-site residential property managers must hold an appropriate licence. Auctions for land or livestock must be carried out by a licensed real estate agent or a stock and station agent who is accredited as an auctioneer. Salespeople and managers who work for agents must hold the relevant licence or certificate of registration.
You should always do a check before dealing with an agent, on-site residential property manager, salesperson or manager. NSW Fair Trading keeps a record of this information including:
- name and business address of the holder
- the category of the licence or certificate
- the licence or certificate number
- date of issue and expiry
- disciplinary action taken against the licence or certificate holder.