To source and interpret legislation affecting real estate operations. It includes identifying and
applying statutory interpretation techniques, identifying and tracking changes to relevant real
estate legislation and industry codes of conduct and maintaining appropriate records.
- Real estate practice requires compliance with federal, state and local legislation. List (3) laws which comprise the legal framework that real estate agencies operate in.
- Explain the components of statute law.
- Name at least 4 pieces of legislation, regulations or codes of practice that are relevant to real estate operations.
- List (3) ways information on legislative, licensing and regulatory requirements and other aspects of agency operations can be obtained ?
- What is meant by ethical and conduct standards that agents may have to follow?
- Review legislation (any Act will do) and explain the structure of real estate legislation and regulations, – i.e. the way the Acts and Regulations are set out/formatted.
- List 2 common interpretation problems that people face when reading legislation.
- List 3 ways or methods you could use to assist in interpreting real estate legislation and regulations.
- Explain the steps for how legislation is created in Australia.
- When there are changes to legislation you need to be aware of these to ensure that you comply. List the name of (2)of the documents (not websites) that you can access to look for changes to legislation.
- What are some ways that you can stay up to date with changes in current legislation that may affect you?
- Name 2 people who may need to be advised of legislative changes within your real estate agency.
- Access the Real Estate Institute of Australia website and review, what industry codes of conduct are relevant to real estate operations.
- If legislative changes did occur, name at least 1 relevant agency record or document that may need to be updated in your agency.