Property 101: Queensland property industry breaches and penalties
Unlicensed property agent work is against the law.
| Offence | Maximum penalty |
|---|---|
Working without a licence or registration | $24,380 or 2 years imprisonment |
Employing a person who in unlicensed and unregistered | $24,380 or 2 years imprisonment |
Selling, hiring or lending out a licence or registration | $24,380 |
Dealing with licences
Serious offences
We will cancel your licence if you’re convicted of:
- violent offences (including threats to use violence)
- fraud or dishonesty offences
- drug trafficking
- extortion
- arson
- unlawful stalking
- an offence of a sexual nature.
You will have 14 days to return your licence to us. The maximum fine for failing to do so is $12,190.
Change of details
You must advise us in writing within 14 days about any changes to:
- personal details
- any aspect of your licence.
The maximum fine for failing to do so is $12,190.
Produce licence on request
| Offence | Maximum penalty |
|---|---|
Failing to show a licence or certificate of registration to an inspector | $24,380 |
Failing to show a copy of a licence or certificate of registration to a potential buyer, client or other party after they ask to see it | $12,190 |
Substitute licensee
You must follow the rules when appointing a substitute licensee. If you do not, you risk being fined.
| Offence | Maximum penalty |
|---|---|
Not having the consent and evidence of appointment at the office | $12,190 |
Not lodging extension of appointment substitute licence for more than 30 days | $24,380 |
Acting as licensee while you have a substitute appointed | $24,380 |
Person in charge
| Offence | Maximum penalty |
|---|---|
Not having a licensee or registered salesperson in charge of place of business | $24,380 (individual) |
Having a real estate salesperson in charge of a place of business if their conditions or registration prohibit this | $24,380 (individual) |
Documentation
You must make sure that you:
- complete all of your documents correctly
- give copies to consumers when the law says you need to.
Appointment
| Offence | Maximum penalty |
|---|---|
Acting for a client without a written appointment to act | $24,380 |
Not giving a copy of the appointment to act | $24,380 |
Acting for more than 1 party to a transaction | $24,380 |
Not explaining the relevant details of a sole or exclusive agency appointment | $24,380 |
Supply of documents
| Offence | Maximum penalty |
|---|---|
Failing to include the warning statement in the required section of a sale contract | $24,380 |
Disclosure
| Offence | Maximum penalty |
|---|---|
Non-disclosure of benefit to buyer | $24,380 |
Not disclosing a beneficial interest to a seller | $24,380 or 3 years imprisonment |
Charging a buyer’s premium on goods connected to a real property without getting the consent of the owner and/or not disclosing a buyer's premium is payable on goods | $24,380 |
Commission
| Offence | Maximum penalty |
|---|---|
Claiming commission worked out on an amount more than the actual sale price | $24,380 |
Retaining or suing for commission when not entitled (for example, not licensed or not authorised to act) | $24,380 |
Trust account offences
It is in an offence to steal or misuse trust monies. You risk a fine and imprisonment if you break the law.
Trust money
| Offence | Maximum penalty |
|---|---|
Wrongful conversion and false accounts | $12,190 or 5 years imprisonment |
Unauthorised use of trust account | $24,380 or 2 years imprisonment |
Trust monies are not banked immediately (to trust account) | $24,380 or 2 years imprisonment |
Banking of non-trust monies to a trust account | $24,380 or 1 year imprisonment |
Licensee does not account to client | $24,380 or 2 years imprisonment |
Audit reports
| Offence | Maximum penalty |
|---|---|
Failing to appoint an auditor | $24,380 or 1 year imprisonment |
Failing to lodge audit report within time limit | $24,380 or 2 years imprisonment |
Failing to lodge a final audit within 2 months of ceasing to be a principle licensee | $24,380 or 2 years imprisonment |
Offences by auditors
| Offence | Maximum penalty |
|---|---|
Auditor does not file advice immediately of irregularities to Chief Executive | $24,380 or 1 year imprisonment |
Auditor fails to notify Chief Executive when denied access to other records | $24,380 or 1 year imprisonment |
Auditor fails to supply report to licensee | $24,380 or 1 year imprisonment |
Inspector's powers
Inspectors have the legal authority to make sure that you don’t break the law. You must follow their lawful directions, or you risk a fine.
| Offence | Maximum penalty |
|---|---|
Failure to comply with warrant, produce documents or provide information to an inspector | $24,380 |
Failure to give name and address to an inspector in certain circumstances | $6,095
|
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