Assignment task: Mr. Smith signed an agreement with agent Thomas Jones of Your Home Real Estate Pty Ltd and appointed the agency to market his home for sale at 24 Cherrytree Lane, Manly for an agreed listed price of $899,000.
At an open home you conducted on the weekend Thomas had several groups attend and asked them to enter their personal details into the open home register which was left on the kitchen bench for prospective buyers to fill in whilst they were viewing the property.
During the open home of the property, Thomas advised three different prospective buyers "It's listed at $899,000, but I'm pretty sure that an offer of $850,000 will be accepted, because the owner needs a quick sale".
After following up with all the buyers on Monday morning he also advised them of another property that he had listed and invited them to attend a private inspection he scheduled for the following afternoon.
Discuss the legislative and ethical breaches of this scenario referring to the relevant sections of Acts and regulations for your state/territory and commonwealth legislation.