Real Estate | Property Management | Liability of Licensees

Pursuant to section 41 of the NSW Property, Stock and Business Agents 2002, the licensee is liable for anything that is done and not done by their employees.  As such, it is important that a licensee monitors the operations and functions being performed within their agency.  Section 32 of the Act clearly details that a licensee must appropriately supervise the actions of their employees and must have written policies, procedures and checklists to ensure compliance with relevant legislation.  Section 42 of the Act goes on to note that a licensee must keep records of the name and residential address of each employee that the licensee employs as a real estate salesperson, stock and station salesperson, business salesperson or registered manager.  The licensee must keep the record in the form of a register of employees and that register must be kept at their place of business.





Rosy Sullivan | College Principal & Director

Australian College of Professionals - RTO 91513.

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