476. Estate agents.

The Estate Agents Act 19791 sets out the duties owed by estate agents to their clients and third parties. Warning or prohibition notices may be issued against persons who are unfit to carry on estate agency work2. Liability may also exist if the agent exceeds his authority3.

An estate agent who is authorised to sell the property (but not one who is merely engaged to procure a buyer) may have authority to receive the contract deposit4. Unless the agent has express authority from the seller to take and hold a pre-contract deposit, such sum must be held on behalf of