Compliance at Haze Real Estate
What needs compliance approval ?
What needs compliance approval ?
Appraisals
Appraisals
What
All appraisals prepared by salespeople in Property Smarts and Property Guru must be approved. Only appraisals generated using the approved company templates will be approved.
When
Written approval (email) must be obtained prior to presenting an appraisal to prospective clients.
Why
Appraisals are checked to ensure the correct templates are used; to check that appropriate comparative properties have been added and that the recommended range complies to legislation and regulations. Misleading appraisal ranges are often the cause of REA complaints and can result in huge fines for salespeople.
Agency Agreements
(Listings)
Agency Agreements
(Listings)
What
All new listings are checked before they can be marketed.
When
Before a new listing can go live, the AML must be approved and all the required contractual documentation and all supporting documentation must be in VaultRE. The required upfront fee must be paid in full as per the agency agreement package selected by the client.
Why
It is a legal requirement to ensure AML is approved and all the legal requirements of the agency agreement has been met before we are legally allowed to market a property for sale. The agency agreement is a legally binding contract which binds the company to deliver a service. The salesperson represents the company in the process, but is not personally a party to the contract - the company and the vendor are the only parties.
Sale and Purchase
offers and contracts
Sale and Purchase
offers and contracts
What
All offers to purchase prepared in REINZ e-forms must be checked prior to being presented to a purchaser or vendor. This includes the checking of all related documentation such as multi-offer and conjunctional agreements which might relate to the offer/s.
All sale and purchase contracts signed by both parties must be checked prior to being sent to solicitors or the parties. At the same time as the signed contract is checked, The Transaction Report must be checked as well prior to contracts are sent to solicitors or parties.
When
Offers are checked prior to being presented to purchasers and contracts and transaction reports are checked prior to being sent to solicitors and parties. Contracts have conditions that start running from agreement date and thus it is imperative that these are presented for checking immediately after the agreement is dated to avoid delays.
Why
Any missed / incorrect data or signatures in any of these documents can have serious and even legal implications for the salesperson as well as our company, besides the potential disastrous impact on our clients and customers.