The below applies to Australian @realty members that are operating their own business either as a sole trader or company using an ABN.

Since @realty is not a party to the transaction it is important that you are providing disclosure to your clients about who is stakeholder for the trust funds.

The below clause should be inserted as an Annexure for the Listing Authority (Appointment of Agent).

If you are unable to insert this clause into existing documentation, then it is recommended to have the below document signed by the parties (see attachment at the bottom of the page).

This is to protect you and your business.

It is important to periodically check this clause as it may be updated based on further advices or legislative changes.

Special Condition: Holding of Trust Funds by @realty Pty Ltd

Receiving, Holding and Distribution of Trust Funds by @realty Pty Ltd

The parties (Parties) to this Appointment of Agent (Appointment) hereby acknowledge and authorise @realty Pty Ltd (ABN 59 167 076 306), a licensed real estate agency (operating under the Licence number for the State/Territory as applicable in the Schedule below), to receive, hold and distribute trust funds to and from its trust account (Trust Funds) and to conduct services related to such administration, pertaining to the transaction(s) for the property that is the subject of this Appointment (Property).

The Trust Funds, which may include but not be limited to marketing costs, deposits, rental monies, bonds and the like, will be held for the purpose of facilitating the sale or purchase of the Property (as the case may be) and will be released only in accordance with the agreed terms of the Appointment, or upon mutual written agreement of the relevant parties to the applicable real estate transaction.

The Parties also acknowledge and authorise @realty Pty Ltd to manage these Trust Funds in compliance with all relevant legal obligations and applicable legislation. The Parties further acknowledge that @realty Pty Ltd is not acting as a representative for any of the Parties unless otherwise specified.

@realty Pty Ltd Licences

ACT licence number: 18402165                          

NSW licence number: 10028644                         

NT licence number: RBL1123                             

Qld licence number: 3674008                             

SA licence number: RLA269823

Tas licence number: 490 (P1D1)

Vic licence number: 077641L

WA licence number: RA72676