Real Estate Agents Act 2008

Reprint as at 1 July 2015

Coat of Arms of New Zealand

Real Estate Agents Act 2008

Public Act
2008 No 66
Date of assent
16 September 2008
see section 2

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This Act is administered by the Ministry of Justice.


3Purpose of Act
5Act binds the Crown
6Persons may not carry out real estate agency work unless licensed or exempt
7Exemption for lawyers and conveyancers
8Exemption for licensed auctioneers
9Exemption under regulations
10Authority established
11Authority a Crown entity
12Authority’s functions
13Membership of Authority
14Code of professional conduct and client care
15Continuing education
16Consultation in relation to practice rules
17Criteria in relation to approval of practice rules by Minister
18Power of Minister to amend practice rules
19Further provisions relating to practice rules
20Authority may prescribe fees
21Operational levy
22Disciplinary levy
23Further provisions relating to fees and levies
24Payment of fees, levies, and fines
25Grounds for intervention
26Power to take possession of documents
27Administration of trust account in certain cases
28Appointment of interim administrator in certain cases
29Authority may direct audit of agent’s trust account
30Authority may inspect certain financial records
31District Court Judge may order Authority to return documents
32High Court Judge may give directions to administrator of trust account or cancel appointment
33Authority to appoint Registrar
34Functions of Registrar
35Power of Registrar to delegate
36Entitlement to licence
37Persons prohibited from being licensed
38Application for licence
39Applicant must advertise application
40Objections to issue of licence
41Written submission in response by applicant
42Procedure in Registrar determining licence application and objection
43Registrar to license applicant or decline application
44Special provisions in respect of partnerships and companies
45Duty to produce evidence of issue of licence
46Term of licence
47Licence may not be transferred
48Agent’s licence
49Branch manager’s or salesperson’s licence
50Salespersons must be supervised
51Employment status of salesperson
52Renewal of licence
53Expiry of licence
54Cancellation of licence
55Process for cancellation
56Effective date of cancellation
57Recording of suspension of licence
58Voluntary suspension of licence
59Effect of suspension of licence
60Effective date of suspension
61Voluntary surrender of licence
62Temporary licence
63Register of licensees
64Purpose of register
65Form of register
66Matters to be contained in register
67Obligation to notify Registrar
68Alterations to register
69Search of register
70When search constitutes interference with privacy of individual
71Meaning of licensee in this Part
72Unsatisfactory conduct
74Complaints about licensees
75Authority to appoint Complaints Assessment Committees
77Constitution of Committees for consideration of matters before it
78Functions of Committees
79Procedure on receipt of complaint
80Decision to take no action on complaint
81Notice of decision
82Inquiry by Committee
83Notice to licensee
84Procedure of Committee
85Powers to call for information or documents
86Compliance with requirement to provide information or document
87Negotiation, conciliation, and mediation
89Power of Committee to determine complaint or allegation
90Hearings on papers
91Reference of complaint to Disciplinary Tribunal
92Application for suspension of licence
93Power of Committee to make orders
94Notice of determination
95Members of Committee not personally liable
96Protection and privileges of witnesses
97Privileges and immunities of counsel
98Enforcement of orders
99Non-payment of fines or costs
100Real Estate Agents Disciplinary Tribunal established
101Constitution of Tribunal for hearings
102Functions of Tribunal
103Services for Tribunal
104Further provisions in relation to Tribunal and its proceedings
105Proceeding before Tribunal
106Representation before Disciplinary Tribunal
107Hearings to be in public
108Restrictions on publication
110Determination of charges and orders that may be made if charge proved
111Appeal to Tribunal against determination by Committee
112Application to Tribunal to review determination by Registrar
113Notification by Tribunal
114Enforcement of order
115Suspension of licence pending outcome of hearing
116Right of appeal
117High Court may make interim order
118Duties of Registrar if interim order made
119Determination of appeal
120Appeal to Court of Appeal on question of law
121Agent to display required name information
122Duty of agent with respect to money received in course of business
123Money to be held by agent for 10 working days
124Agent to furnish account to client
125Agents’ trust accounts to be audited
126No entitlement to commission or expenses without agency agreement
127Approved guide to be provided before agency agreement for residential property signed
128Agency agreement must disclose rebates, discounts, and commissions
129Regulations may make provisions in respect of agency agreements
130Client may cancel sole agency agreement by 5 pm next working day
131Parties may cancel sole agency agreements in respect of residential property 90 days after agreement is signed
132Licensee to give copy of contractual document
133Approved guide to be provided when contractual document provided
134Contracts for acquisition by licensee or related person may be cancelled
135Client to be provided with valuation
136Disclosure of other benefits that licensee stands to gain from transaction
137Meaning of licensee and person related to licensee in sections 134 to 136
138General penalty
139Forfeiture for certain offences
140Offences to be punishable on summary conviction [Repealed]
141Offence to carry on business of agent, branch manager, or salesperson unless licensed or exempt
142Offence of holding out as agent, branch manager, or salesperson unless licensed or exempt
143Offence of employing or contracting unlicensed or non-exempt person as agent, branch manager, or salesperson
144Offence to provide false or misleading information
145Offence to fail to notify change in circumstances
146Offence to fail to comply with requirement to give possession of documents
147Offence to fail to comply with requirement to produce financial records
148Offence to fail to provide information or document
149Offence to fail to pay person lawfully entitled to money received
150Offence to fail to hold money
151Offence to fail to disclose conflict of interest
152Offence to render false accounts
153Offence to resist, obstruct, etc
154Service of notice and documents
155Civil remedies not affected
157Repeal of Real Estate Agents Act 1976
158Transfer of assets and liabilities
159Membership of REINZ
160Continuation of certain provisions of Real Estate Agents Act 1976
161Claims in relation to Real Estate Agents Fidelity Guarantee Fund
162Public notice of last day for making claims
163Winding up of Real Estate Agents Fidelity Guarantee Fund
164Application of Real Estate Agents Fidelity Guarantee Fund on winding up
165Continuation in office for purposes of transitional provisions
166Agents licensed under Real Estate Agents Act 1976
167Salespersons and branch managers approved under Real Estate Agents Act 1976
168Continuing effect of permits issued under Real Estate Agents Act 1976
169Applications pending at commencement of this section to be dealt with under Real Estate Agents Act 1976
170Continuing effect of agency agreements entered into before repeal of Real Estate Agents Act 1976
171Continuation of pending disciplinary proceedings
172Allegations about conduct before commencement of this section
173Amendments to other enactments
Reprint notes

The Parliament of New Zealand enacts as follows: