Whilst you have been away on annual leave the Principal of the agency has exchanged contracts to personally purchase one of your listings. You do not believe that your vendor is aware of the fact that it is your employer as it has been purchased in a company name and there is no declaration on the file or on the copy of the contract in the file. A) What skills will you need to employ? B) What do you do and explain why quoting any relevant bodies, legislation, forms and penalties?

Contract refers to the agreement between the two people or more under the eyes of the law. The agreement made should have the legal consideration and should be enforceable by the laws.

The skills needed to be employed are as follows:-

Knowledge of computers and research techniques to locate relevant legislation for your problems;
Effective communication abilities to speak with the vendors and your employer.
Complaint resolution processes (using the Complaint Register).

This is something the principle should think about:

The Property and Stock Agents Act of 2002 considers it a violation of trust;
Non-disclosure in order to receive a benefit;
Form 49 and Section 55 MUST be completed;
The vendor should not suffer as a result of working with your company;
Up to two years in prison and a fine of $29,313 can be imposed as penalties for violating Section 55.
The estate agent may also be ordered by a court to repay any commission they received from the vendor.

Learn more about Complaint Register here:

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