Description:
Agents Behaving Badly II
The commencement of AML/CTF tranche 2 has obviously required changes to the way new reporting entities operate. Some of the changes embraced by some real estate agents have been 'interesting'.
In this session Tony Cahill will revisit the role of agents (not only licensees under the Property and Stock Agents Act but agents more generally) in the conveyancing process.
Topics include:
* Fundamental principles of agency law
* Creation of principal-agent relationahip including scope of authority
* Key duties of agents
* Powers of agents including power to make (or vary) contracts on behalf of the principal
* The limited power of real estate agents to 'fill up' contracts, and participate in the formation of, for residential prooerty - and what might go wrong
* Real estate agents as depositholders and the rise of third party holders (sometimes called 'deposit flicking')
* Can a real estate agent contract out of brokering the sale?
* Caselaw highlighting where the agent got it wrong - the perils of 'the blind leading the blind' as one judge put it! | 
