Real Estate Compliance Check

Is it worth the risk not to have one in the current Australian real estate climate?

The Office of Fair Trading (OFT), through their compliance enforcement officers in the field, continues to target real estate businesses throughout NSW. While they aim to close down the dishonest, unethical operators, sometimes they capture the honest operators who make the odd, innocent mistake. The result? Individuals can be fined up to $11,000, and businesses can be fined up to $22,000.


Don’t think it could happen to you? Think about this. A disgruntled prospective buyer has complained to the Office of Fair Trading (OFT) that one of your salespeople led them astray with a price guide for a property. You thought you had everything covered. But then you receive a ‘show cause’ letter from the OFT. Would you know how to respond? And are you confident that you would survive an OFT audit?

Get prepared. Be compliant. Speak to Bill Robertson from Kaplan Professional.

Because your business could be contacted by the OFT at any time, you need regular compliance checks. That’s where we can help.

 

This page contains:
 
 

 

About Bill Robertson

 

In NSW alone, Bill Robertson has completed close to 150 compliance checks for real estate companies and individual offices – whether sales, property management, project marketing or development of land. This service is now expanding to QLD, WA and SA. He knows the subject of compliance well and his job is to put simple office procedures into place so you can rest a little easier.

 

Bill can visit your office for a few hours, check various sectors of the business, (including sales, and property management files) to assess the office standing within the Legislation, concluding with an on-the-spot meeting outlining the results.

 

 

What he does

 

Conduct a full Real Estate Compliance Check - a business check as to compliance, under the PS&BA Act and Regulation, plus under the Commissioner’s Guidelines as to compulsory procedures of the business as a corporation, partnership or sole-trader, as well as compliance with sales and property management procedures.

 

 

What your office will get

 

  • on-site visit
  • check the structure of the business, individual licenses and Certificates of Registration
  • audit of business + management procedures
  • audit of Sales Agency Agreements and sales files, selected at random
  • audit of ‘estimated selling price’ compliance and sales procedures
  • audit of Property Management Agreements and property management files, selected at random
  • audit of property management compulsory documentation that must be on file
  • clarification on how to correctly fill-up Sales and Management Agency Agreements
  • on-site verbal overview of finding
  • detailed report of findings with recommendations
  • ready-to-use simple procedures and checklists to put into place

        

How long it takes

 

From experience, the average time spent for a small-to-medium business varies from 3 hours to 4 hours for the compliance check plus the on-site meeting to report findings on the spot.

 

A larger firm with a high number of staff, or a real estate group ‘head office’ structure, averages 4 hours to 5 hours for the compliance check plus the on-site meeting.

 

* As an added bonus, the hours of compliance coaching can translate into CPD points for all licence and certificate of registration holders.

 

Fees

 

Real Estate Compliance Check - $1,050 + gst

 

This fee covers the first three hours onsite at your office. If the Compliance Check exceeds 3 hours, a charge of $350 + gst per hour or part thereof applies.

 

Booking and More Information

 

To book a Real Estate Compliance Check, click here.

 

For more information click here, email compliance@kaplan.edu.au or call us directly to discuss your needs.

 

 

Bill Robertson
Real Estate Compliance Manager
M: 0417 444 936

 

Melissa Cregan
Administration Assistant
T: 02 9908 0220
F: 1300 137 802