Property Leasing: Exclusive Agency Authority - Practical Task

This practical assignment delves into the intricacies of property management, specifically focusing on the Exclusive Leasing Agency Authority. It includes tasks related to identifying legal and ethical requirements within property management and sales, completing agency work, and working effectively in the real estate industry. The assignment requires completing projects involving forms such as the Exclusive Leasing Authority form, listing sheets, residential tenancy agreements, and condition reports. Furthermore, it involves analyzing case studies and responding to questions based on relevant Acts and regulations, including addressing scenarios faced by a principal agent in managing client relationships and agency reputation. The assignment also incorporates practical elements such as maintaining a key register and understanding the implications of various clauses within standard real estate documents. Desklib provides students access to past papers and solved assignments related to this topic.

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1. VENDOR
3. PROPERTY (Includes land and all improvements) Clause 1.1(9)
7. ONGOING AUTHORITY PERIOD Clauses 3.3 & 7.1(b)
8.1
8. SPECIAL INSTRUCTIONS
Item
EXCLUSIVE LEASING AGENCY AUTHORITY
(Residential)
Item Schedule
Business Name:
Address:
ABN:
Phone: Fax: Mobile:
Email: GST Registered: Yes / No
Name/s:
Address:
Real Estate Academy Australia Pty Ltd T/as Real Estate Academy Australia
524 Lutwyche Road, Lutwyche QLD 4030
ABN:
Contact:
Phone: ( 07 ) 3105 6780 Fax: ( 07 ) 3357 5008 Mobile:
Email: [e-mail]
Address:
Real Property Description: 2/256 Blackstreet, Preston
Included Fittings / Furnishings / Chattels:
Property is Sold: Subject To Tenancy / With Vacant Possession
Vendor's Sale Price: $ 330 per week
Vendor's Preferred Settlement Date:16 days from date of Contract
GST exempt / including GST
Note: If a price range is specified, the difference between the upper and lower amounts cannot be more than 10% of the lower
amount.
Single amount: $1 320 0 OR Between: $ 0 and $ 0
This Exclusive Authority will be for a period of 16
Note: Section 54 (1) of the Estate Agents Act 1980
days from the date of signing this Authority.
If an agreement stating that an estate agent is to act as the sole agent for the sale of any real estate or business does
state when the sole agency is to end, the sole agency ends:
(a) in the case of a sale by auction, 30 days after the date of the auction; or
(b) in any other case, 60 days after the date the agreement is signed by, or on behalf of, the vendor of the real estate o
business.
At the end of the term of the Exclusive Authority (Item 6), unless terminated, this Authority will continue as an ongoing
authority for a period of nil days (ongoing authority period).
Note: Where no days are inserted, the period shall be 1 Business Day.
6. TERM OF EXCLUSIVE AUTHORITY (SOLE AGENCY) Clauses 3 & 7.1(a)
Clause 95. AGENT'S ESTIMATE OF SELLING PRICE (Section 47A of the Estate Agents Act 1980)
Note: This amount is an estimate not a valuation. The GST status of any estimate is as indicated in Item 4.
Clause 5.44. VENDOR'S SALE PRICE & SETTLEMENT
Note: Vendor should obtain independent advice as to Sale Price
2. AGENT Clause 1.1(2)
Mr and Mrs Ian and Rebecca Handerson
2/256 Blackstreet, Preston

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11. COMMISSION SHARING Clause 7.11
12. MAKING A COMPLAINT CONCERNING COMMISSIONS AND/OR OUTGOINGS
(this statement must be incorporated within the Authority in the approved form - s49A(1)(c) Estate Agents Act 1980)
8.2 The Agent is authorised to advertise the Property for the following price or price range:
Single amount: $1 320 0 OR Between: $ 0 and $ 0
Selling Fee: Based on an estimated Selling Price of $ 1 320 000
the Agent's Selling Fee would be as calculated using one of the following methods:
0 GST Exempt / Including GST
3.00 % of the Selling Price
0.00 % of the first $ 0 of the Selling Price plus 0.00 % of the balance
Fixed Amount of $
Other:
0.00 plus GST
The Vendor shall reimburse the Agent for the following authorised Expenses incurred during the term of this Authority:
Expense Amount (Include GST) *Due and Payable
Advertising null
* When Due and Payable is left blank, Expenses are payable on receipt by the Vendor of an itemised invoice.
[Note: Payment is not dependent upon a sale taking place]
W ill the Agent's commission be shared with other people (other than a licensed estate agent or an agent's representat
employed by the agent, or a licensed agent who is in partnership with the agent)?
Yes No (Important - if "Yes", see Clause 2.1(9))
13. SPECIAL CONDITIONS Clause 12
The Special Conditions are inserted under instruction from a party to this Authority and where not prepared by that party,
were prepared by an Australian Legal Practitioner and not the Agent. No warranty is given by the Agent. Legal advice should
be sought.
Any complaint relating to commission or outgoings can be made to the Director, Consumer Affairs Victoria, GPO
Box 4567, Melbourne VIC 3001 or by telephoning 1300 73 70 30.
U n les s th e re a re e x ce p tio n al circ u m s tan c e s , C o n su m er A ffa irs V ic to ria c an n o t d e al w ith a n y d
concerning com m ission or outgoings unless it is given notice of the dispute w ithin 28 days of the client
receiving an account for, or notice that the agent has taken the amount in dispute, whichever is later.
10. EXPENSES (Attach schedule if insufficient room) Clauses 7.7 & 7.9
Where calculated on a % basis, as set out above, the Selling Fee as an actual dollar amount would be:
Selling Fee: $ 1 320 0.00 plus GST of $ 0.00 Total Fee Payable: $ 0.00 (incl. GST)
9. FEE PAYABLE TO AGENT FOR SERVICES Clause 7
(this statement must be incorporated within the Authority in the approved form - s49A(1)(c) Estate Agents Act 1980)
8. SPECIAL INSTRUCTIONS (Continued)

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Important information for Vendor(s)
A rebate includes any discount, commission, or other benefit, and includes non-monetary benefits. It is illegal for an
Agent to keep any rebate they receive for advertising or other outgoings purchased by the Agent on your behalf.
Section 48A of the Estate Agents Act 1980 requires the Agent to immediately pay you any rebate they receive in
relation to the sale of your property.
The Agent is not entitled to retain any rebate and must not charge you an am ount for any expenses that is more
than the cost of those expenses.
14. REBATE STATEMENT
(this statement must be incorporated within the Authority in the approved form - s49A(1)(c) Estate Agents Act 1980)
The Agent will not be, or is not likely to be, entitled to any rebates.
OR
The Agent will be, or is likely to be, entitled to rebates.
These rebates are listed below.
 any outgoings; or
 any pre-paym ents made by the person engaging or appointing the Agent (the Client) in respect of any intended
expenditure by the Agent on the Client's behalf; or
 any payments made by the Client to another person in respect of the work.
Goods/Services to which
rebate relates
Name of person or organisation
providing rebate
Amount (including GST)
(if amount not known,
provide an estimate)
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Signature of Agent:
B.O Date: 16/07/2019
By signing this Authority the Vendor(s) confirm(s) having read and understood the provisions of Clause 2.1 of the
Authority.
Signatures of Vendor(s):
Mr Yakub Zechiels Date:16 /07 /2019
Date:
Date:
/ /
/ /
15. SIGNATURES

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1. Definitions
In this Authority, which includes the Item Schedule, the
following terms mean:
(1) Act: the Estate Agents Act 1980 as amended.
(2 ) A g e n t:m e a n s th e A g e n t s e t o u t in Ite m (2 )
together with the Agent's representative as defined
by the Act.
(3) Authority: this Exclusive Selling Agency Authority
consisting of the Item Schedule, Terms of Authority
a n d a n y a d d itio n a l s c h e d u le s th a t m a y b e
attached.
(4) Commission: includes fees, charges, rewards or
other remuneration whether monetary or otherwise.
(5) ) Expenses: any cost or cha rge incurred by the
A g e n t (in c lu d in g in re s p e c t o f a d v e rtis in g o r
marketing) in carrying out the Agent's obligations
under this Authority.
( 6 )G S T : w h e re u s e d in th is A u th o rity , h a s th e
m eaning used inA N ew Tax S ystem (G oods &
Services Tax) Act 1999 and "G ST" includes any
applicable rulings issued by the Commissioner of
Taxation.
(7) GST Act: refers to theA New Tax System (Goods
& Services Tax) Act 1999.
(8) Item: an Item in the Item Schedule forming part of
this Authority.
(9) Property: the Property as described in Item (3).
3. Agency and Authority
Exclusive Authority
The V en d or by this A uthority a ppoints the A g ent as
E xc lu s ive S e llin g (S o le ) A g e n t fo r th e te rm o f t
Authority as set out in Item (6) or any extension to the
exclusive authority period and will refer any prospective
buyers of which the Vendor becomes aware to the Agent.
Authority vested in the Agent by this Authority shall be
d e e m e d to b e v e s te d in th e A g e n t's a u th o ri
employees.
The Agent agrees to such appointment.
Ongoing Authority
E ither pa rty m ay term in ate this A utho rity d uring the
ongoing authority period at any time on the giving of not
less than 14 days written notice. Such termination will be
without prejudice to either party's existing rights, duties or
obligations.
4. Agent's Selling Obligations and Authority
(1) The Agent will market the Property, as instructed by the
Vendor in accordancewith this Exclusive Selling
Authority.
(2) The Agent is authorised to advertise the Property f
sale, in accordance with the Vendor's instructions, at
the Vendor's Sale Price (Item 4) or such other price
as the Vendor may from time to time instruct in
writing.
The Agent will take reasonable steps to ensure goods
and services obtained for the Vendor are at competitive
prices.
(10) Relevant & Material Facts: facts relating to the
Vendor's obligations and authority as detailed in
Clause 5, including but without limitation, property
o w n e rs h ip , te n a n c y a g re e m e n ts , s a fe ty a n d
c o n d itio n o f th e P r o p e r t y a n d fittin g s a n d
compliance with relevant Government legislation.
1.2 Other words and phrases not defined in this Authority
4.3 (1) The Agent must provide financial statements and
account to the Vendor with respect to all m onies
received, paid or used by the Agent, carrying out
the Agent's obligations under this Authority.
(2) The Agent will issue tax invoices, when necessary
or required by the Vendor, in respect of all monies
owing by the Vendor to the Agent.
will, where applicable, take on those meanings given to
them in the Act.
2. Vendor's Confirmation
By signing this Authority the Vendor(s) warrants and
confirms:
(1) having read this Authority.
(2) being authorised to enter into this Authority.
(3) having authority to grant the Agent selling rights of
the Property.
(4 ) th e P ro p e rty is n o t su b je ct to a n y b in d in g sa le
contract at the time of entering into this Authority.
(5) that, in accordance with s 49A(1)(b) of theEstate
Agents Act 1980 , prior to signing this Authority the
Vendor was advised by the Agent that Expenses
and Commission were subject to negotiation.
(6) having received at the time of signing a signed copy
of this Authority.
(7) having had the opportunity to obtain legal and other
professional advice with respect to this Authority.
(8) ) that, prior to signing, the Vendor's attention
has been drawn to Item (11)Commission Sharing ,
Item
(12) Making a Complaint Concerning Commission
and/or Outgoings, Item (14)Rebate Statement and
Clause 13Dispute Resolution.
(9 ) W h e re c o m m is s io n s h a rin g is a p p lic a b le a s
indicated in Item (11) the Vendor acknowledges,
prior to signing this Authority, having received a
notice of commission sharing in accordance with
section 48 of theEstate Agents Act 1980.
W here the Vendor is a proprietary company the Agent
may require the directors of such company to provide
p e rs o n a l g u a ra n te e s g u a ra n te e in g th e co m p a n y's
performance under this Authority.
Terms of Authority

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The Agent's authority does not extend beyond the terms
of this Authority and the Agent will not be required
to provide services not authorised by this Authority.
W here authorised in writing to do so by the Vendor, the
Agent may:
(1) participate in the exchange or filling up of the
sale contract.
(2) sign the Contract where the terms have been
agreed to by the Vendor.
Any services provided will be appropriate and carried out
with all reasonable due care and skill.
5. Vendor's Obligations and Authority
5 .1 T h e V e n d o r h a s a t th e tim e o f e n te rin g in to th
is Authority:
(a) ) disclosed to the Agent all relevant and m
aterial facts
(b) made no statement with respect to the land
which the Vendor knows or has reason to believe
may be misleading or deceptive. (Section 12 of
the Sale of Land Act 1962)
(c) provided all information relevant to Section 32 of the
Sale of Land Act 1962.
The Vendor will at all times during the currency of this
Authority keep the Agent advised of and disclose to
the Agent in writing details, reasonably known to the
Vendor, of any defects or want of repair to the
Property likely to result in or cause injury to persons
occupying, entering upon or using the Property.
The Vendor acknowledges, for the purposes of Clause
5.1, having been advised by the Agent of its
obligations with respect to the relevant sections of the
Sale of Land Act 1962 , in particular Sections 12 & 32.

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W here the Vendor has nominated a Vendor's Sale Price in
Item (4) the Vendor must consider offers to buy at that
price.
6. Indemnity
The Agent having complied with its obligations under this
Authorityand not having been negligent,the Vendor
indemnifies the Agent, its officers and employees, from
and against all actions, claims, demands, losses, costs,
damages and expenses (including Fees and Expenses)
which the Agent may suffer or incur in respect of:
(a) the Vendor's failure (without fault on the part of the
Agent) to comply with this Authority; or
(b) the Vendor's failure to give the Agent appropriate
authority or instruction, or sufficient funds to carry
out an instruction or authority; or
(c) in accordance with the terms and conditions of this
Authority, the Agent acting on behalf of the Vendor
under this Authority; or
(d) a warning label or safety instructions having been
removed, damaged or defaced where a product or
fitting has been supplied to the Property with such a
label or instruction attached.
7. Agent's Fee Reimbursement
The Vendor acknowledges the Agent is entitled to the
Selling Fee if:
(a) during the initial or any extended exclusive authority
period (Item 6), the Property is sold; or
(b) ) during the ongoing authority period (Item 7)
the Property is sold and the Agent is the effective
cause of sale; or
(c) during the initial or extended or ongoing authority
period a binding offer is provided by the Agent to the
V e n d o r w h ic h is in t h e fo r m o f a c o n t r a c t
enforceable if signed by the Vendor and exchanged
with the Buyer, at the price and otherwise on the
terms set out in the Item Schedule; or
(d) within 120 days after the conclusion of the exclusive
authority period, the Property is sold to a Bu yer
in tro d u c e d b y th e A g e n t d u rin g th e e xc lu s ive
authority period and the Agent is the effective cause
of the sale; or
(e) a binding sale contract is entered into pursuant to or
in accordance with Clauses 7.1(a), 7.1(b) or 7.1(d)
and not completed due to:
(1) cancellation by mutual consent
(2) the default of the Vendor
(3) repudiation by the Vendor
(4) breach of warranty by the Vendor resulting in
termination of the Contract by the Buyer.
7 .2 T h e A g e n t w ill b e e n title d to th e S e llin g F e e if th e
Property is sold during the exclusive authority period
irrespective of whether the Property is sold by the Agent,
Vendor or another person.
The Selling Fee will be calculated on the actual price the
Property is sold for (Selling Price) notwithstanding such
Selling Price may be greater or less than the Vendor's
Sale Price set out in Item (4).
The Selling Fee, as detailed in Item (9), will be payable by
the Vendor on settlement of the sale or within 7 days of
the Vendor's default in Clause 7.1(e).
The Vendor authorises and directs the Selling Fee and
Expenses (including taxes and GST if applicable) to be
paid to the A gent by the p erson ho lding th e d ep osit
monies or other monies due under the contract for the
sale of the Property, be that the stakeholder or other
p e rs o n a s p ro vid e d h e re in . T h e A u th o rity s h a ll b e
sufficient authority and discharge for such payment.
The Agent will not be entitled to the Selling Fee (Item 9
after the termination or conclusion of this Authority the
Vendor has signed an Exclusive Authority with another
Agent.
7 .7 T h e A g e n t is e n title d to F e e s fo r S e rv ic e s a
reimbursement or payment of Expenses (including any
taxes or dedu ctio ns debited by financ ia l in stitu tions
against the Agent's account and attributable to the affairs
o f th e V e n d o r ) a s s e t o u t in Ite m s ( 9 ) a n d
resp ectively, and whilst this Auth ority is in force and
provided there are no genuine disputes as to the Agent's
conduct of this Authority, is irrevocably authorised to
deduct from monies received by the Agent on behalf of
the Vendor all such Fees, Commissions and Expenses.
7.8 This Authority cannot be varied without agreement in writing
signed by the parties.
7 .9 U n le s s o th e rw is e s ta te d , a ll p ric e s o f G o o d s
Services under this Authority include (where applicable)
GST.
0 If th e A g e n t is e n title d to a n inp u t tax cre d it o n a
paym ent or expense the Vendor will reim burse such
payment or expense to the Agent at its GST free value
unless payment by the Vendor to the Agent amounts to
a taxable supply as defined in the G ST A ct in
which case the Vendor will pay the payment or
expense plus GST.
The Vendor acknowledges the Agent may, during the
term of the Authority, to better facilitate the provisions of
the Authority, utilise the services of another Agent in
which case there may be commission sharing and upon
the Vendor granting consent to com m ission sharing,
which consent will not be unreasonably withheld, the
V en d o r w ill co m p lete a n e w A u th o rity m a king s
p rovisio n, b u t o th e rw ise o n th e sa m e te rm s a s t
Authority (unless am endm ent is agreed to) including
co m pletion of Item (11) to enable such com m ission
sharing for the balance term of this Authority.
7 .1 2 T h e p a rtie s a g re e th e P ro p e rty is s o ld , o r a
obtained, when a binding contract, which is obtained in
c o m p lia n c e w ith th is A u th o rity fo r th e s a le o f
Property becomes unconditional.
7.13 The parties agree a Buyer will have been introduced to a
p ro p e rty w h e re th e A g e n t h a s b e e n a s o u rc
information with respect to bringing to the attention of a
Buyer that such property is available for purchase.
8. Interest on Overdue Monies
Any monies payable under this Authority by the Vendor to
the Agent (or any judgm ent given in respect of this
Authority) not paid when due will attract Interest from the
due date for payment, to the date of payment at the rate
prescribed by the Attorney General in accordance with the
Penalty Interest Rates Act 1983.
9. Agent's Opinion
9 .1 T h e A g e n t m a k e s n o rep re s e n ta tio n a s to b
financial or investment advisor.
The Agent's Estimated Selling Price range is applicable as
at the date of this Authority and is the Agent's honest and
fair opinion of the estimated value.
Nothing in this section requires the Estimated Selling
Price (Item 5) and the Vendor's Sale Price (Item 4) to be
the same amount.
9 .4 A n A g e n t m a k in g a fa ls e re p re s e n ta tio n a s
Estimate Selling Price commits an offense under the Act
in which case penalties apply.

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10. Buyer's Default
In the case of default by the Buyer in not completing the
purchase the Vendor will pay the Agent's Fees and/or
E xp e n se s a n d to d o s o m a y u tilize a n y fo rfe ite d o r
recovered deposit monies. Should any balance Fees and/
or Expenses remain unpaid thereafter, the Vendor shall
pay same in accordance with this Authority.
11. Provision of Documents
T h e p a rtie s a g re e a n d co n firm d o cum e n ts m a y b e
forwarded electronically if the recipient has provided an
email address or facsimile number in the Item Schedule
to this Authority.
12. Special Conditions
Any Special Conditions to this Authority shall form part of
this Authority. Should there be inconsistency between the
terms of this Authority and a Special Condition, the Special
Condition shall apply.
13. Dispute Resolution
In c om pliance w ith th eE state A g ents (P rofessiona l
C on d u ct) R e g u la tio ns 2 0 0 8th e A g en t h a s in p la ce
procedures for resolving complaints and disputes arising
from the operation of the Agent's estate agency practice.
If a complaint is made the Agent will advise the dispute
resolving procedures. The Agent will make every effort to
m inim ize or re so lve disp utes relating to th e A gen t's
performance.
14. Privacy Statement
.1 T h e A g e n t m u s t c o m p ly w ith th e p ro vis io n s o f th e
Australian Privacy Principles (Privacy Act 1988 ) and
where required maintain a Privacy Policy.
The Privacy Policy outlines how the Agent collects and
uses personal information provided by you as the Vendor,
or obtained by other m eans, to provide the services
required by you or on your behalf.
You as the Vendor agree the Agent may, subject to the
Privacy Act 1988 (CTH) (where applicable), collect, use
and disclose such information to:
(1) potential buyers, to the extent required to prepare a
contract for the sale of the Property; and/or
(2) property data collection agencies; and/or
(3) Owners Corporations & financial institutions; and/or
(4) other third parties as may be required by the Agent
for the purposes of m arketing, sales prom otion,
adm inistration relating to the use of the Agent's
products and services and complying with legislative
and regulatory requirements.
W ithout provision of certain information the Agent may
not be able to act effectively or at all on the Vendor's
behalf.
The Vendor has the right to access such information and
may require correction or amendment of any inaccurate,
incomplete, out of date or irrelevant information.
The Agent will provide (where applicable), on request, a
copy of its Privacy Policy.
15. Safety
W he re a p ro du ct, fixtu re or fittin g p rovid ed w ith th e
P ro p e rty h a s a w a rn in g la b e l o r s a fe ty in stru ctio n s
attached the Vendor is not to deface, damage or remove
such label.