Reference no: EM132989808

Marissa is one of the agent's representative with Victorian Star Real Estate. Graham is looking to purchasean apartment in an inner-city suburb and has shown keen interest in a small apartment that Marissa has listed.Graham notices that there is a vacant lot across the property and asked whether there is any planned development in the future.Marissa is excited because this apartment has been listed for two months and she really wants to close the deal before she goes away on a holiday next month. However, she is aware of the planned development at the vacant lot.

a) Should Marissa let Graham know about the planned development? Identify TWO (2) breaches and refer to the relevant Act and/or Regulations

b) What advice would you give Marissa?

Rita is selling her property through Victorian Star Real Estate. Marissa is the selling agent. Marissa's brother Marco takes interest in Rita's property. He rings Marissa to ask whether he can purchase Rita's property.

a) Identify the most relevant legislation that would apply to this situation. Indicate the section and act of the legislation.

b) Outline THREE (3) steps of the requirement of this section to enable Marco to buy Rita's property

c) Do the requirements of this section apply to Marissa's situation? Explain why/why not.

d) What penalties apply for breach of the section?

e) What advice would you give Marissa in relation to her actions in this matter? In your response make reference to two areas of legislation and the relevant sections.