CPPREP4002 - Access And Interpret Ethical Practice In Real Estate - Prosecution Report Writing - Law Assignment Help

Assignment Task

Part 1
Write a short description of the unethical practice that has occurred.

The agent has been taking money from the Company’s Trust Account to use for personal expenses.
Part 2 
Refer to the information in the learner guide regarding consumer protection and in 100 – 200 words provide an explanation of how the unethical practice relates to consumer protection requirements relevant to this consumer protection legislation.

The relevance of consumer protection is that, under Competition and Consumer Act 2010,
it is unlawful for real estate agents to act unlawfully, improperly, unfairly or incompetently and also it is unlawful for a fit and proper person to be involved in the direction, management or conduct of the business of a licensee.

The agent was convicted ofdishonestlyobtaining, by deception, monies from the Company’s Trust Account under the Crimes Act 2010.  
Part 3
Refer to the relevant legislation and industry standards of conduct in your state/territory then provide an explanation of real estate ethical standards and codes of conduct or codes of practice that are relevant to this prosecution case, including those that could have been applied and would demonstrate ethical practice.

Part 4
Discuss the options available to respond to a discrepancy between unethical practice and ethical practice standards.  In your answer refer include sources of specialist advice.                                 
What you need to submit: 
1 Page Report including all of the above information. 
Example Case

This prosecution report is provided as an example on a difference case to give the student a better understanding of what is required to be covered in the prosecution case assessment task for the link provided above.
*Note: This case occurred prior to the Competition and Consumer Act 2010 and Property and Stock Agents Act 2002 and Property and Stock Agent Regulation 2014.
Part 1
The agent failed to disclose to the buyers that the property that he was selling was the scene of horrific murders that occurred in the property and was one of the more notorious crimes committed in Sydney.   
Part 2
The relevance of consumer protection is that, under Competition and Consumer Act 2010,
It is unlawful for real estate agents to:
• Intentionally mislead consumers
• Lead consumers to a wrong conclusion or impression
• Give consumers a false impression
• Leave out or hide important information (e.g. in fine-print disclaimers)
• Make false or inaccurate claims.

It makes no difference whether the agent meant to mislead or deceive the consumer—it is how the consumer perceived the conduct that matters.  

In the current case agent has an did not disclose the material fact about the property instead offering the property as a “deceased estate, it was vacant for 3 years and no longer required by overseas owners”  At no time was the information about the murder provided to the buyer to make an informed decision.  

The buyers were not aware of the murders and did not ask the agent but advised that “they would not have contemplated purchasing the house if they had known it was the scene of the murders”.  The buyers became aware of the murders due to media publicity and as a result immediately contacted the agent to be released from the contract.

The agent breached the following legislation;

s.52(1) of the Property Stock and Business Agents Act 2002; - misrepresented the sale of 6 Collins St North Ryde by concealment of a material fact namely the non-disclosure of murders which occurred on the property

s.42 of the Fair Trading Act 1987;  - misleading or deceptive conduct namely the non-disclosure of murders which occurred on the property.

s.32 of the Property Stock and Business Agents Act 2002 - failure to supervise the business of the corporation.

Part 3
The agent also failed in respect to professional conduct standards as follows;
r.3(1) Rules of Conduct; - failed to act honestly, fairly and professionally
r.3(2) Rules of Conduct; - misled or deceived a party to a transaction .

If the agent had of acted honestly, family and professionally in his conduct then he would have disclosed the relevant information and the buyer would have been aware from the start of the matters affecting the property to make an informed decision about going ahead.

Part 4

Should the agent have questions as to whether the information they are providing or must provide to the consumer in relation to the property is required they should make further enquiries.  

The agent can consult their solicitor who will be able to review the legislation and provide advice based on the requirements under the legislation.  

He/she can also consult the Office of Fair Trading or Australia Competition and Consumer Commission which are the regulators that can provide information or at least give guidance as to the avenues to take in order to obtain the correct information.  

They could also consult with industry bodies such as the REINSW if they are members.

If staff of an agency suspect that other staff are engaging in practice contrary to the legislation / conduct standards they should bring this to the attention of the principal or report to the Office of Fair Trading if it needs to go further.

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