Body corporate real estate or business agent licence - real estate
To apply for a body corporate real estate or business agent licence:
- all of the directors of the body corporate and all of the persons concerned in the management or conduct of the body corporate, must be persons of good character and repute and be persons who are fit to be directors of, or concerned in the management and control of, an agent’s business;
- the body corporate must show that it has sufficient material and financial resources available to it to comply with the requirements of the Real Estate and Business Agents Act 1978;
- unless, for good cause shown by the applicant, Consumer Protection otherwise determines, where there are:
- not more than three directors of the body corporate at least one of them must be licensed; or
- more than three directors of the body corporate at least two of them must be licensed; and
- the person in bona fide control of the business operated under the licence must be licensed.
Character and Repute
Each director of the body corporate must provide an original or certified copy of an Australian police check issued no more than three months prior to the date of lodging the application. Each director of the body corporate must also provide two written references to attest to their good character, reputation and fitness to hold a licence.
The application form requests the disclosure of previous convictions, pending proceedings and previous disqualifications involving each director. The Commissioner may request applicants attend an interview with Consumer Protection to determine whether they satisfy the requirements of the Act.
A person who gives false or misleading information in relation to an application for a real estate agent or business agent licence commits an offence and is liable for a penalty of up to $20,000.
Person in bona fide control
If one of the licensed directors is not undertaking the role of person in bona fide control of the business, then the directors must nominate a licensed person to carry out the role. The appointee must complete a verifying their preparedness to carry out the statutory obligations as the person in bona fide control.
Access to sufficient funds
The body corporate will also need to provide a confidential statement of its assets and liabilities.
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