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Review the below published prosecution and answer the below guestions: | @ Prosecution Case Study Identify and explain the unethical real estate practice that has occured. The unethical real estate practice that has occurred is the agent misrepresenting the condition of the property to the potential buyer. The agent has told the buyer that the property is in good condition when it is actually in poor condition /7~ Explain how the unethical practice relates to consumer protection requirements. This unethical practice relates to consumer protection requirements because the agent is not providing accurate information to the potential buyer. The buyer is not able to make an informed decision about whether to purchase the property. 4 Identify and explain the outcome including any penalties imposed on the agency and the individual agents The most common penalty for a PR agency or individual agents is a fine. Fines can range from a few hundrad dollars to tens of thousands of dollars, depending on the severity of the violation. In some cases, the agency or individual agents may also be required to pay restitution to any parties affected by their unethical behavior. In 5::1!‘. on to fines, PR agencies and individual agents may also face disciplinary action. This could include suspension or revocation of their license, or even expulsion from professional organizations. In some cases, the agency or individual agents may also be required to take additional training or education courses to ensure they are following ethical standards in the future. In extreme cases, PR agencies and individuzl agents may face criminal cha’ges This could include charges of fraud, [ and other penalities. No matter the penalty, it is important for PR agencies and individual agents to adhere to ethical standards. Failing to do so can have serious conseguences, both for the agency or individual agents and for the organization misrepresentation, or other criminal offenses. If convicted, the agency or individual agents could face jail time, hefty fines, they represent. By following ethical standards, PR agencies and individual agents can ensure that their work is beneficial to both their organization and the public 4 (If this case occured in Queensland) List, if any, the standards of conduct and sources of specialist advice that the Agent could have referred 1o, to help rectify the unethical practice. In Queensland. an agent facing unethical practices can refer to guidelines from the Real Estate Institutz of Queensland (REIQ). the Office of Fair Trading (OFT). as well as legal advisers. The standards of conduct that the agent could have referred to in order to rectify the unethical practice are: - honesty and fairness - operating in the client's best interest - disclosure of material facts - obeying all laws and regulations. The first standard of conduct that the agent could have referred to is honesty and fairness. This standard requires the agent to be honest and fair in all of their dealings with the client. This means that the agent must not withhold any materia information from the client, and must not misrepresent any facts. If the agent is found to have been dishonest or unfair in their dealings with the client, they could be lizble for damages. Acting in the client's best interests is the second code of behavior that the agent might have mentioned. According to this critenion, the agent must always op-*-'a'n n the client’s best interests rather than their own. This requires the agent to put the client's interests ahead of their own and to treat the client fairly at all times. The third standard of conduct that the agent could have referred to is disclosure of mat -=~~! facts. This standard requires the agent to disclose any matenal facts that could affect the client’s decision-making. This means that the agent is forbidden from hiding any information that could reasonably be expected to affect the client's choice. The fourth standard of conduct that the agent could have referred to is obeying all laws. This standard requires the agent to obey all aws and regulations that apply to their business. This means that the agent must not engage in any illegal activity, and must comply with all relevant laws and regulations. 4