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REISA scores seventeen legislative touchdowns

22 Nov 13

Back in June, REISA put forward a comprehensive submission to the Government on the Sales Regulations.

The submission contained seventeen proposals designed to streamline the business of real estate professionals, cut red tape and make life easier for agents working at the coalface.

We importantly however, made sure that there were enough consumer protections built into each proposal so that everyone came out a winner.

Over the last five months we have lobbied Government hard, argued our case, negotiated the fine points and worked tirelessly to turn our submission into reality.

Yesterday the Government officially gazetted the Regulations.

And every one – yes every one – of our proposals was accepted by the Government.

In fact, we are proud to say that the Regulations contain no other proposals other than those that we put forward.

It is a complete triumph for REISA and acknowledgement of our position as the voice of real estate in South Australia.

However, we are only as good as our members.  If we want to continue to be able to deliver stunning results such as this, we need to hear from you, we need you to be active and we need you on board so that we can always be a powerful tool for change.

Counting down our legislative Top Ten Touchdowns:

Number 10 – The vast majority of small business vendors no longer have to seek information relating to the Livestock Act.

Number 9 – Agents can backcapture their sales agency agreements and notices of offer electronically and get rid of the originals.

Number 8 – The notice to purchasers in the Offer forms has been rewritten to assist purchasers understand their cooling-off obligations.

Number 7 – Agents no longer have to hand out or read out the collusive practices warning – just simply have it on display.

Number 6 – If an associate is gaining a s24G beneficial interest, they pay for the formal valuation, not the agent.

Number 5 – The collusive practices warning has been rewritten to assist our rural members.

Number 4 – The Financial and Investment advice warning can be given verbally.

Number 3 – Agents can email the vast majority of real estate documents.

Number 2 – Sales agency agreements can be in 10 point type.

And our greatest achievement -

Number 1 – Agents can email the Form 1 vendor’s statement.

2014 is shaping up to be a great year.

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