Industry shock: REIQ set to leave REIA

The Real Estate Institute of Queensland is poised to resign from the national body due to a financial dispute.

Real Estate Institute of Australia president Neville Sanders told Real Estate Business that Queensland’s impending breakaway had not come as a surprise.

“We’re still in discussions with them and we’re still hopeful they will reconsider their position, but obviously it’s their prerogative to make the decision they’ve made,” he said.

“It’s been brewing; we’ve been aware of this for some time. We’re hopeful that they’ll be able to work their financial structures out in a way that will see them remain within REIA.”

Mr Sanders was reluctant to elaborate on Queensland’s grievance – he said it would be more appropriate to let the REIQ speak for itself.

“Because it’s not done yet and the discussions are ongoing, I don’t want to go into any further detail until it takes effect,” Mr Sanders said.

“Then we’ll have to manage that, but I’m still hopeful that they reconsider their position, which they have time to do.”

REIQ chief executive Antonia Mercorella said that Queensland remains a member of the REIA and that its chairman, Rob Honeycombe, is attending a national board meeting today.

“Our sole focus has always been and always will be to represent the best interests of REIQ members,” Ms Mercorella told Real Estate Business.

“Over the last 12 months our central focus has been to serve our membership, and we’ve delivered exceptional results in this regard.

“The legislative reforms we negotiated for the Queensland real estate profession speak volumes about the strength of our advocacy and our commitment to the REIQ membership.”

Apart from NSW and now Queensland, all other states and territories are part of the national association.

Mr Sanders said he had no reason to believe other states were planning to break away.

“REIA is united apart from Queensland’s current position and NSW, which left for financial reason about four years ago,” he said.

Victoria was thought to be on the brink of leaving the REIA in 2012, but the rumoured breakaway never occurred.

[Related: REIA aims to stamp out ‘quickie courses’ in 2015]

More reaction in tomorrow’s Real Estate Business bulletin

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