The new Real Estate Agents Act 2008 makes several changes that impact on people working in the real estate industry. The main aim of the new Act is to protect the interests of consumers and to promote public confidence in the real estate industry.
This website provides information on some of the key aspects of the new Act. It is provided for information only and is not intended to provide legal advice on the interpretation of the Act.
The key changes introduced by the new Act are:
- agents, branch managers and salespersons must all be licensed individually
- establishment of the independent Real Estate Agents Authority, responsible for licensing, complaints, disciplinary action in relation to unsatisfactory conduct, industry standards, and providing information for consumers
- new complaints and disciplinary processes, including the appointment of Complaints Assessment Committees and the establishment of an independent Real Estate Agents Disciplinary Tribunal
- new responsibilities for licensees, including information that must be provided to consumers
- no longer compulsory for agents to be members of the Real Estate Institute of New Zealand (REINZ).
Click here for Industry FAQs.
Click here to view the Real Estate Agents Act 2008.
Click here to view the Regulations.
Industry Newsletter:
Click here to view the latest Authority industry newsletter. This is a series of regular newsletters to provide you with information about the Real Estate Agents Act 2008 and the activities of the Authority.
If you would like to subscribe to this newsletter please email your details to info@reaa.govt.nz.
