To support consumer protection and ensure you have the information you need at two important stages of the process of buying or selling residential property, three approved guides have been developed; an agency agreement guide, a sale and purchase agreement guide and a Code Of Conduct Guide.
An agency agreement guide.
An agent must not enter into an agency agreement with you for the sale of a residential property unless he or she has provided you with a copy of the approved guide relating to agency agreements, before the agreement is signed. You must sign an acknowledgement that you have received the guide.
Click here to view the New Zealand Residential Property Agents Agreement Guide
A sale and purchase agreement guide.
Similarly, before you sign a sale and purchase agreement for a residential property the agent must give you a copy of the approved guide relating to sale and purchase agreements. You must sign an acknowledgement that you have received the guide.
Click here to view the New Zealand Residential Property Sale and Purchase Agreement Guide
You must be provided printed copies of the above guides. The only exception to this is if you are an out of town or overseas buyer or seller. In this situation, the agent will refer you to the relevant approved guide information. You will be asked to provide written acknowledgment, for example by email, that you have been provided with this information.
The Code of Conduct Guide.
Real Estate Agents Authority (REAA) recently released an updated set of rules outlining the code of professional conduct and client care. These rules constitute the professional conduct and client care required by section 14 of the Real Estate Agents Act 2008 and are effective from 8 April 2013.
Please click here to view the latest Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012.