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Queensland’s peak real estate body has teamed up with proptech platform Securexchange to launch a digital tool streamlining the state’s mandatory disclosure rules ahead of their 1 August 2025 rollout.
The Queensland government’s new Property Law Act 2023, set to take effect on 1 August 2025, will introduce significant changes around property sales and leasing in the state.
The new act will change Queensland’s current legislation, which dates back to 1974, by imposing mandatory disclosure rules around the sale of both residential and commercial property in the state.
The new system will notably introduce a new mandatory “seller’s disclosure regime”, which will apply to the sale of both residential and commercial property in Queensland.
To fulfil these new obligations, agents in Queensland will be required to provide prospective buyers with a disclosure statement and prescribed certificates for the property they are selling, before a buyer signs a contract of sale.
After the new changes come into effect next month, prospective buyers will also be able to terminate a contract of sale at any time before settlement if the required disclosure documents are not provided correctly or contain insufficient or incorrect information.
Ahead of the changes, the Real Estate Institute of Queensland (REIQ) unveiled a new partnership with the online platform Securexchange, which aims to streamline the disclosure process for the state’s real estate professionals.
Through the collaboration, the two organisations developed the new “Seller Disclosure Tool” to streamline the new seller disclosure process by automating property searches and using the corresponding data to complete the necessary forms.
REIQ CEO, Antonia Mercorella, said the new Seller Disclosure Tool will provide agents across Queensland with an accurate and efficient way to stay on top of Queensland’s new disclosure requirements.
“As a tool that automates and simplifies the property search and disclosure process, the Seller Disclosure Tool saves agents significant time that would otherwise be spent manually compiling information – and when it comes to transacting property, we know time is valuable and precious,” Mercorella said.
She said the tool will help Queensland agents have a smooth transition to the new legal requirements.
Head of Securexchange, Alex Antal, said the partnership helped to tailor the tool to directly address the needs of real estate professionals.
“It integrates seamlessly into existing workflows, allowing agents to focus on helping their clients buy and sell homes and investment properties,” he added.
Antal also noted that the new tool has been built with the highest security standards, enabling it to safeguard transactions and client data from potential cyber attacks while ensuring compliance with all disclosure requirements.
“Every feature of the Seller Disclosure Tool has been designed with the practical needs of real estate agents in mind, ensuring a user-friendly experience that’s both intuitive and efficient,” he concluded.
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