Summit v REAA & Lewis [2011] NZREADT 38 [pdf, 108 KB]
...upon which transactions involving the sale and purchase of a property rest and, as such, is the cornerstone of the current Act and its regulatory regime. There is further regulation under the Real Estate Agents Act (Professional Conduct and Client Care) Rules 2009 particularly as Dr McKenzie put it; “(a) Rule 9.5: appraisal and pricing. Read together with rule 9.8(a) (see below), a written appraisal of the property (that is, of the sale price) is required before a client is invit...