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On this page you’ll find information about the penalties for property industry-related offences. These fines are for individuals. Corporations could face up to 5 times the maximum penalty.
These offences relate to your appointment to act on behalf of clients.
| Offence | Maximum penalty |
|---|---|
Acting for a client without a written appointment to act | $32,260 |
Not giving the client a copy of the appointment to act | $32,260 |
Acting for more than 1 party to a transaction | $32,260 |
Not explaining the relevant details of a sole or exclusive agency appointment | $32,260 |
These offences relate to your auditor's actions and reports.
| Offence | Maximum penalty |
|---|---|
Failing to appoint an auditor | $32,260 or 1 year imprisonment |
Failing to lodge an audit report within the time limit | $32,260 or 2 years imprisonment |
Failing to lodge a final audit report within 2 months of ceasing to be a principal licensee | $32,260 or 2 years imprisonment |
Auditor does not immediately file advice of irregularities to the Chief Executive, Office of Fair Trading (OFT) | $32,260 or 1 year imprisonment |
Auditor fails to notify the Chief Executive, OFT, when denied access to other records | $32,260 or 1 year imprisonment |
Auditor fails to supply a report to the licensee | $32,260 or 1 year imprisonment |
These offences relate to claiming commissions.
| Offence | Maximum penalty |
|---|---|
Claiming commission worked out on an amount more than the actual sale price | $32,260 |
Retaining or suing for commission when you're not entitled to (for example, if you're not licensed or authorised to act) | $32,260 |
Inspectors have the legal authority to make sure you don’t break the law. You must follow their lawful directions or risk a fine.
These offences relate to non-compliance with inspectors.
| Offence | Maximum penalty |
|---|---|
Failure to comply with a warrant, produce documents or provide information to an inspector | $32,260 or 1 year imprisonment |
Failure to give your name and address to an inspector in certain circumstances | $8,065 |
These offences relate to your licence or registration.
| Offence | Maximum penalty |
|---|---|
Failing to advise the Office of Fair Trading in writing within 14 days about changes to any aspect of your licence, including your personal details | $16,130 |
| Offence | Maximum penalty |
|---|---|
Failing to show a licence or registration certificate to an inspector on request | $16,130 |
Failing to show a copy of a licence or registration certificate to a potential buyer, client or other party after they ask to see it | $16,130 |
Read about the rules you must follow when appointing a substitute licensee to avoid being fined.
| Offence | Maximum penalty |
|---|---|
Not having the consent and evidence of appointment at the office | $16,130 |
Not lodging an extension of appointment for more than 30 days | $32,260 |
Acting as licensee while a substitute is appointed | $32,260 |
These offences relate to your place of business.
| Offence | Maximum penalty |
|---|---|
Not having a licensee in charge of your place of business | $32,260 (individual) |
Having a real estate salesperson in charge of your place of business if their conditions or registration prohibit this | $32,260 (individual) |
These penalties apply if you've been convicted of a serious offence.
| Offence | Maximum penalty |
|---|---|
Failing to return your licence to the Office of Fair Trading within 14 days after being convicted of a serious offence and having your licence cancelled | $16,130 |
It is in an offence to steal or misuse trust monies. You risk a fine and imprisonment if you break the law.
These offences relate to managing trust accounts.
| Offence | Maximum penalty |
|---|---|
Wrongful conversion (or unauthorised use of money) and falsifying accounts | $161,300 or 5 years imprisonment |
Unauthorised use of a trust account | $32,260 or 2 years imprisonment |
Not banking trust monies immediately into a trust account | $32,260 or 2 years imprisonment |
Banking non-trust monies into a trust account | $32,260 or 1 year imprisonment |
Not providing a financial account to the client | $32,260 or 2 years imprisonment |
Unlicensed work as a property agent is against the law. These penalties relate to unlicensed work.
| Offence | Maximum penalty |
|---|---|
Working without a licence or registration | $32,260 or 2 years imprisonment |
Employing an unlicensed or unregistered person | $32,260 |
Selling, hiring out or lending a licence or registration | $32,260 or 2 years imprisonment |
These offences relate to breaching your legal responsibilities to provide warnings and disclosures.
| Offence | Maximum penalty |
|---|---|
Failing to include the warning statement in the required section of a sales contract | $32,260 |
Not disclosing a benefit to a buyer | $32,260 |
Not disclosing a beneficial interest to a seller | $32,260 or 3 years imprisonment |
An enforceable undertaking is an alternative to court action. It is a legally binding agreement between a business and the Office of Fair Trading that the business won’t keep breaking the law.
