The Real Estate Institute of Australia has said it is open to changing its ways after the Real Estate Institute of Queensland officially quit the national body.
The comments follow an email REIQ chairman Rob Honeycombe sent to its members to explain why Queensland had decided to split from the national body, effective 30 March.
REIA president Neville Sanders said the REIQ is entitled to decide whether or not it gets value for the $260,000 in annual fees it has been paying to the national body.
“We have taken the view that we’re working with Queensland and NSW and, as Rob mentioned in his email, a lot of us are getting together in the near future,” he told Residential Property Manager.
“There are varying views, naturally, and some of the other states have a contrary view, but Queensland currently holds the view that Rob has espoused.”
Mr Sanders said the REIA’s board has always kept an open mind about how the national body is structured.
“If different member states have a view of things being done in a different manner, we’re always prepared to listen – that’s what good boards do,” he said.
“All good boards are prepared to consider new practices.”
Mr Sanders said the REIA hopes the two institutes will be on the same page in the near future. “We still have good lines of communication between our boards [REIA and REIQ].”
Mr Honeycombe said the REIQ’s resignation from REIA was not a decision the board took lightly. However, he said the institute would not continue spending members’ funds when there wasn’t a sufficient return on investment.
Mr Honeycombe said since the resignation of the REINSW in 2012, there has been ongoing conversations about changes to the REIA.
“In March 2014 the REIQ asked the other real estate institutes to consider the option of a smaller, more efficient REIA team with a sole focus on lobbying and policy,” he said.
“Despite initial resistance we’re really encouraged the real estate institutes have now agreed to come together this month – importantly, with NSW representatives – to explore a new model for the national body.”
[Related: Industry shock: REIQ set to leave REIA]