Real estate agents facing commission reforms

The NSW government is set to introduce new legislation that will stop real estate agents from requesting or accepting a gift or benefit that may lead to a conflict of interest. The main conflicts of interest happen when real estate firms receive commission from other service providers in exchange for customer referrals. While the expansion of the Property, Stock and Business Agents Act 2002 is set to prohibit such behaviour, no mention is made of other benefits real estate agents may still enjoy, such as gifts from their clients.

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