Dealer obligations to Salesmen

The Real Estate (Dealers and Developers) Act outlines the responsibilities of the Dealers to operate within their areas of practice to which they are the holder of a valid licence.  

  • Dealers must ensure that they maintain an active licence, which should be displayed in his or her office, prior to employing a real estate salesman to practice real estate business under the name which they are licensed. 
  • Dealers are to have in their possession license of all salesmen employed to them for them to be actively practicing real estate business. 
  • Dealers have a responsibility to conduct routine audit of their clients’ accounts in accordance with the Real Estate (Dealers and Developers) Act and also Proceed of Crime Act. Written procedures are in place to guide how funds are treated with respect to these transactions.   
  • Dealers must provide continuous training and resources in market trends and update to industry standards in accordance with the law.  
  • Provide adequate supervision and oversight in the day-to-day operations and management as it relates to real estate business under which registration and licence have been procured and issued by the Authority. 
  • Ensure that they adhere, uphold and operate within the guidelines, orders, regulations, policies issued by the Authority or on behalf of the Authority and fulfil all statutory obligations to the Authority. 
  • Make available and provide copies of office policies, rules, guidelines, forms and procedures manual to their salesmen with periodic review. 

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