Compliance

AGENCY COMPLIANCE - COMPCHECK

Think Real Estate's compliance check service, Compcheck, is designed to assist offices and licensees in charge meet their compliance obligations under the Property Stock and Business Agents Act and Regulations and any specific requirements of the Commissioner of Fair Trading.

 

Compcheck is an on-site inspection service, conducted over 2-3 hours by one of our highly trained Assessors. This service is backed by a full written report outlining our findings and recommendations. Our Compcheck service offers peace of mind and we believe should be conducted annually at every agency.

 

Areas of review include the following:

 

  • Agency compliance as per the Property Stock & Business Act and Regulation
  • Register of employees as per NSW Fair Trading
  • Currency of Licences & Certificate of Registration
  • CPD Currency
  • Agency policy & procedures in accordance with Licensee responsibilities under Section 32 of the Property Stock and Business Act
  • Procedures for handling of complaints

 

Inspection of a random sample of Sales & Property Management files to check the documentation such as:-

  • Use of correct documentation (Agency Agreements)
  • Use of Privacy Policy
  • Auction procedures in accordance with Regulations of 2014
  • Estimated selling price substantiation and meeting the Commissioner's requirements
  • The use of disclaimers
  • Banking procedures
  • Key and tradesman registers
  • Advertising & procedures to ensure no misleading and deceptive claims

 

CompCheck fee:

  • Agency with less than 10 staff : $990.00 incl gst
  • Agency with 10 plus staff : By quotation

Remember: Fair Trading can prosecute under the Competition and Consumer ACT 2010. Penalities can be as high as $220,000 for individuals and $1,100,000 for the Corporation.

 

To book your agency audit, please complete the booking form below or call (02) 9587 5277 for further information.


I wish to book a CompCheck™ Compliance Check of my office. In making the booking I agree to the following Terms and Conditions.

  • The charge for CompCheck™ is $330.00 per hour (incl. GST) with a minimum time of 3 hours. 50% of the minimum fee ($495.00) will be payable with the submission of this booking Form.

  • Think Real Estate will use due skill and diligence in undertaking CompCheck™, however, Think Real Estate can accept no responsibility for any oversight or failure to identify any non compliance that a subsequent NSW Fair Trading (NSWFT) audit may discover. Nor will Think Real Estate accept any responsibility for any fine or action that OFT may take against the client.

  • Think Real Estate will have access to all records they require in order to undertake CompCheck™.

  • Think Real Estate will maintain the confidence of the business nominated in this form, and will not divulge any information gathered by CompCheck™ to any third party.

CompCheck™ is undertaken on the Terms and Conditions contained in the Agreement that will be signed at the time CompCheck™ is undertaken.