Real Estate Agent
The Act defines a real estate agent as a person (whether or not the person carries on any other business), who for reward (whether monetary or otherwise), carries on business as an auctioneer of land or as an agent:
a) for a real estate transaction – ie. the purchase, sale, exchange, lease, assignment or other disposal of land, whether or not an auction is involved or
b) for inducing or attempting to induce or negotiating with a view to inducing any person to enter into, or to make or accept an offer to enter into, a real estate transaction or a contract for a real estate transaction or
c) for the introduction, or arranging for the introduction, of a prospective purchaser, lessee or licensee of land to another licensed agent or to the owner, or the agent of the owner, of land or
d) collecting rents payable in respect of any lease of land and otherwise providing property management services in respect of the leasing of any land or
e) for the sale or purchase of rural land with an area of up to 20 hectares or
f) for a buyer or
g) for the sale of residential premises in a retirement village.
A licence holder who wishes to act solely as a buyer’s agent may have a condition placed on their licence noting that they may only act as a buyer's agent.
Stock & Station Agent
The Act defines a stock and station agent as any person (whether or not the person carries on any other business) who, for reward (whether monetary or otherwise), carries on business as an auctioneer of rural land or livestock or as an agent for:
a) performing the functions of a real estate agent in relation to rural land or
b) a livestock transaction (the purchase, sale or other disposal of livestock, whether or not an auction is involved) or
c) inducing or attempting to induce or negotiating with a view to inducing any person to enter into, or to make or accept an offer to enter into, a livestock transaction or a contract for a livestock transaction or
d) providing agistment for livestock or collecting of fees for the agistment of livestock.
Business Agent
The Act defines a business agent as any person (whether or not the person carries on any other business), who for reward (whether monetary or otherwise), carries on business as an agent for exercising any of the following functions:
a) selling, buying or exchanging or otherwise dealing with or disposing of businesses or professional practices or any share or interest in or concerning or the goodwill of or any stocks connected with businesses or professional practices
b) negotiating for the sale, purchase or exchange or any other dealing with or disposition of businesses or professional practices or any share or interest in or concerning or the goodwill of or any stocks connected with businesses or professional practices.
Property Manager
The Act defines an on-site residential property manager as a person (whether or not the person carries on any other business) who, for reward (whether monetary or otherwise):
a) carries on business as an agent for giving possession of residential premises under a lease, licence or other contract or
b) carries on business as an agent for collecting bonds, deposits, rents, fees or other charges in connection with any such lease, licence or other contract.
An on-site residential property manager’s licence is subject to the condition that the licensee must not carry on business as an on-site residential property manager in respect of premises unless:
a) the licensee’s principal place of residence is situated at those premises and
b) the licensee owns, or has an interest prescribed by the regulations in, that principal place of residence.
This condition prevents a person from being an on-site residential property manager for more than one residential complex. To do that, a person must hold a real estate agent’s licence.
