Authority Updates - New South Wales

Changes to Real Estate Agents, Property inspections & Strata Regulations

From the 15 August 'Property Agent' responsibilities have changed. These changes relate to property inspection reports, commercial agency work and agency agreements.

Property inspection reports

Agents will need to make a record of certain property inspection reports and their details. When a prospective buyer asks for a sale contract, they must provide this information to them as a one-off disclosure.

This reform is to make prospective buyers aware of reports already commissioned. This may help an interested buyer to obtain such reports more inexpensively and simply.

The reports that the agent needs to record are:

  • a building inspection of the property
  • a pest inspection of the property
  • an inspection of documents about the property under section 108 of the Strata Schemes Management Act 1996
  • a certificate dealing with financial matters under section 109 of the Strata Schemes Management Act 1996
  • an inspection of documents about the property provided for under section 26 of the Community Land Management Act 1989.

Agents do not need to include information about particular reports if:

  • they are not aware of the report
  • they can't reasonably obtain information about it (for example, if it has been withheld by an inspector or vendor).

For more information refer to NSW Fair Trading Pre-purchase property inspections reports page. 

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Disclaimer: The information herein has been prepared by SAI Global Property Division Pty Ltd ACN 089 586 872 from information released by the Authority cited on this page. It is provided as general background information only; it is not complete; and it does not comprehensively address this subject matter. Readers should not consider the information so provided as advice nor as a recommendation to take any particular course of action. Persons needing advice should consult their own solicitor, accountant or other professional adviser.