Govt cuts property red tape

Govt cuts property red tape

29 January 2010 by Staff Reporter 0 comments

In a bid to slash property industry red tape, commerce minister Troy Buswell has said fewer licensing and advisory boards will now govern the industry.

The Real Estate and Business Agents Supervisory Board; the Settlement Agents Supervisory Board; and the Land Valuers Licensing Board will be abolished by 1 July 2011.

A smaller committee of industry and consumer representatives would be formed so that the property industry had a more streamlined process for input to government.

“I would like to sincerely thank the members of all of the old boards for their significant contribution in time and effort,” Mr Buswell said.

“Reducing the number of Consumer Protection boards will reduce costs but more importantly, it will also cut duplication which will be better for all stakeholders.

“When a single regulator is responsible and accountable for dealing with issues there is also less red tape and issues are less likely to fall through the cracks.”

Legislation to implement these reforms is likely to be introduced into state parliament by the end of 2010.

Under the new regime, licensing and regulatory functions would be managed by the Commissioner of Consumer Protection and employing authority and financial responsibility would be handled by the director general of the Department of Commerce.

The changes would position the local property industry for the national harmonisation of licensing, standards and regulatory arrangements of property agents under the National Occupational Licensing system which is expected to begin on 1 July 2012.

 

In a bid to slash property industry red tape, commerce minister Troy Buswell has said fewer licensing and advisory boards will now govern the industry.

The Real Estate and Business Agents Supervisory Board; the Settlement Agents Supervisory Board; and the Land Valuers Licensing Board will be abolished by 1 July 2011.

A smaller committee of industry and consumer representatives would be formed so that the property industry had a more streamlined process for input to government.

“I would like to sincerely thank the members of all of the old boards for their significant contribution in time and effort,” Mr Buswell said.

“Reducing the number of Consumer Protection boards will reduce costs but more importantly, it will also cut duplication which will be better for all stakeholders.

“When a single regulator is responsible and accountable for dealing with issues there is also less red tape and issues are less likely to fall through the cracks.”

Legislation to implement these reforms is likely to be introduced into state parliament by the end of 2010.

Under the new regime, licensing and regulatory functions would be managed by the Commissioner of Consumer Protection and employing authority and financial responsibility would be handled by the director general of the Department of Commerce.

The changes would position the local property industry for the national harmonisation of licensing, standards and regulatory arrangements of property agents under the National Occupational Licensing system which is expected to begin on 1 July 2012.

 

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
William Phillips on how agents can expand their database and grow their business

Get up close and personal with the best real estate sales agents in Australia in Secrets of the Top 100 Agents. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?