Forms Updates as at 1st March 2015

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for the Real Estate Industry

(Compliant with all relevant Legislation in each State)

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Hi,

We have updated a number of forms in respect to new regulations requiring warnings on Residential, Rural and Business Broking Sales Agency Agreements. Certain other changes have also been implement as a result of client feedback.

The Property, Stock and Business Agents Regulation 2014 require that on and from 1 March 2015, if the agency agreement includes a term that a commission is payable even if the sale of the property is not completed, the agency agreement must include the following statement:

WARNING: The term immediately above provides that a commission is payable under this agreement even if the sale of the property/business is not completed.

The statement must be included in the agreement immediately following the term and must be no less prominent than that term.

Forms that have been changed are:

Exclusive Auction Agency Agreement (Residential)
Exclusive Auction Agency Agreement (Rural)
Exclusive Selling Agency Agreement (Business Broking)
Exclusive Selling Agency Agreement (Residential)
Exclusive Selling Agency Agreement (Rural)
Open Selling Agency Agreement (Business Broking)
Open Selling Agency Agreement (Residential)
Open Selling Agency Agreement (Rural)
Sole Selling Agency Agreement (Residential)
Sole Selling Agency Agreement (Rural)

To view a full history of all Forms Changes Click Here

1. Updating ADLForms

ADLForms should have automatically updated to the new forms and the latest version of the software (v9.2.7) when you first opened ADLForms today. If this has not occurred then:

Click the 'Update' button from the main menu of the program. Please allow a few minutes for the forms to download and install.
If this fails to update your forms then:
- Select Tools -> 'Re-initialise ADLForms’ from within the Main Menu of the ADLForms program. This will close the program.
- Restart ADLForms and click the 'Update' button.
If you still do not have the updated forms click here to download and re-install ADLForms.
If all the above do not result in a successful forms and program update please contact our tech support team for assistance.

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