Access and Interpret Ethical Practice in Real Estate

CPPREP4002 - Access and
Interpret Ethical Practice in
Real Estate (Release 1)

Assessment Questions
Question 1
Complete the following table by inserting the name of at least 2 pieces of legislation relevant
to the areas listed as relevant to your state/territory and identify whether the legislation is at
the state or federal level (in brackets).
AREA NAME OF THE ACTS/REGULATIONS
REAL ESTATE AGENTS
AND LICENSING
Agent Act, 2003 is one of the real estate agents and licensing
act which is applicable is New South Wales and on the other
side, the law which is applicable in Queensland is Property,
Stock and Business Agent Act, 2002. The guidelines for both
the act are different as per the requirement of specified area.
PROPERTY SALES Civil law (Sales of Residential Property) Act, 2003 is
applicable in Queensland whereas Australian Property Law is
the law regulating in Australian Capital Territory.
PROPERTY MANAGEMENT Land Agent Variation Regulations 2018 act and Land Agents
Amendment Act 2017 are the major law which has been
commenced for the purpose of dealing with property
management related matter (Singhal and Bhola, 2017).
PRIVACY Privacy Act, 1988 is the federal legislation for maintaining the
privacy of person or any entity and Information Privacy Act,
2009 is applicable to different part of Queensland.
FAIR TRADING AND
CONSUMER PROTECTION
Competition and Consumer Act, 2010 is one of the national
laws which regulates for fair trading in Australia. While talking
about New South Wales, Consumer law has been effectively
helping to deal with any of the matter related to fair trading and
consumer protection.
DISCRIMINATION Anti-Discrimination Act 1991 governs for discrimination in

Queensland and at Federal Level Australian Human Right
Commission Act, 1986 has been allowing to obtain effective
result.
WORK HEALTH AND
SAFETY/OCCUPATIONAL
HEALTH AND SAFETY
Commonwealth has introduced Work Health and Safety Act,
2011 for the purpose of providing safety to employees and the
other act which are playing supportive role is Occupational
Health and Safety Act, 2017 in New South wales.
ENVIRONMENTAL
(SUSTAINABILITY)
Environment Protection & Biodiversity
Conservation Act 1999 is the national environmental law for
whole Australia an Environmental Protection Act, 1994 has
been enforced within Queensland for obtaining effective result.
EMPLOYMENT AND
INDUSTRIAL RELATIONS
Fair Work Regulations Act, 2009 and Workplace Relations Act,
1996 are the two different laws within the premisses of
Australia which has been allowing to conduct busines activity
in smooth manner by developing heathy relations.
FOREIGN INVESTMENT Foreign Direct Investment Act, 1975 is among the most
important act which is allowing to conduct any of the foreign
investment related activity at federal level. Trade and
Investment Act 2013 is the act which governs Queensland for
any of the foreign investment.
SECRET COMMISSIONS
(ONLY 1 REQUIRED)
Secret Commissions Act, 1905 has been introduced in Australia
where several amendments have been made into the law.
Question 2
What is the role of the Australia Competition and Consumer Commission?
There are different types of laws and regulation which has been commenced by the law
forming bodies where all of them carries certain intention along with roles. In the same
manner, Australian Competition and Consumer Commission has certain roles and
responsibility which they must complete. The first important role is to ensure that fair
trading is being done within the market place as per the requirement of situation. They also
must promote higher competition by ensuring that new entrance of business entity is
possible with limited number of restrictions (Back, 2017). Overall, Australian Competition

and Consumer Commission has the responsibility to provide benefits to consumer has high
percentage without letting to create any of the monopoly.
Question 3
Consider the relevance of consumer protection requirements and identify (2) risks for the
following;
3.1 Consumer (Buyer/tenant/Seller or landlord)
3.2 Risk to the Agency
3.3 Risk to the Industry
3.4 Personal Risk
Consumer Protection requirement is important in current scenario because it allows to
provide proper information about each of the product which are required by the
organisation. It means that it is needed because consumer will not face any of the problem
just because of the market trend and even all of the necessary benefits will be provided to
them whenever there will be any sort of requirement. In addition to this, it will allow the
consumer to make appropriate choice regarding the product and services which they are
going to avail from the market place. But there is always certain risk for the people or
organisation who are included as per the act. Below, some of the risk associated with
different people has been explained in detail:
Consumer: These are the person who purchases the product either for consuming or either
they sell ahead in the market for further benefits. It is necessary to understand that
whenever any of this situation arises problem should not occur for the customers. The risk
which they have to bear is:
 They must be aware about the product or services which they are going to avail at
beginning.
 Services might not be as per the requirement for amount paid by the consumers.
Risk to Agency: There are different types of risk which is associated with agency and they
have been listed below:
 There might be compliances risk if an agency fails to meet out the standards then
problem may arise.
 Operational Risk is also associated. It means that if agency fails to provide the services as