Purchasers should always remember that the land agent (also know as the real estate agent) works for the vendor (the seller) and is paid by way of a commission on the sale. Not only is it the agent's duty to obtain the best possible price for the vendor, but the agent's income depends, to a large degree, on doing so. However, the agent is also expected to deal fairly with the buyer.
For further information about the obligations owed by real estate agents in relation to the conduct of the sale of a property, including information about the sales agency agreement, marketing and auctions see Selling a home.
Real estate agents must be licensed under the Land Agents Act 1994 (SA). Consumer and Business Services is responsible for licensing agents and a search may be made of the Register. Consumer and Business Services is also empowered to commence prosecution proceedings (within 5 years of the alleged offence) against a land agent, property manager, sales representative (or their employees) for breaches of the Land Agents Act 1994 (SA), such as those relating to inappropriate use of trust account monies.
The content of the Law Handbook is made available as a public service for information purposes only and should not be relied upon as a substitute for legal advice. See Disclaimer for details. For free and confidential legal advice in South Australia call 1300 366 424.