The EAC Agency Practice Helpline receives numerous calls as to the requirement to hold a Stock and Station Agents Licence if selling lifestyle (country) properties and small rural holdings and how do you differentiate between them?
There are several critical factors to keep in mind.
The Property Stock and Business Agents Act 2002 and Regulation 2003 provides that, “the definition of real estate agent in the Act includes a person who carries on business as an auctioneer or agent in respect of any parcel of rural land that has an area of up to 20 hectares (50 acres).”
It follows that an employee who holds a certificate of registration as a real estate salesperson may list, sell, lease and manage property up to 20 hectares. So a licensed real estate agent together with a certificated employee who normally transact with residential property can also act on “lifestyle rural” properties up to the maximum size of 20 hectares.
Rural properties are defined as “land that is used or apparently intended to be used for gain or profit for grazing of livestock, dairying, poultry farming, viticulture, orcharding, beekeeping, horticulture, the growing of crops of any kind, vegetable growing or any other purpose declared by the regulations to be a rural purpose.”
The agent who transacts with rural properties, as defined and over 20 hectares, requires a Stock and Station Agents licence and their employees who are also engaged in that part of the business require a Certificate Registration as a Stock and Station Salesperson.
If the business is transacting residential, lifestyle and rural the licensee in charge of the business will require a real estate agents licence AND a stock and station agents licence.
Employees of the business who are active in both residential and rural will require certificates of registration in both categories.
Business owners and licensees in charge need to ensure that their staff hold the appropriate certificates.
The EAC Agency Practice Helpline is a free service for exclusively for EAC Members.