Is the Minister aware of any instances where licensed real estate agents can use their agency's brand and Real Estate license to solicit customers, but evade the Real Estate Agents Act 2008 by signing the final contracts under their own unregulated private property management companies; if so, what work, if any, is the Government undertaking to address this?

Answer

I have recently received one piece of correspondence on this topic. I am advised by the Real Estate Authority that some real estate licensees carry out real estate agency work and property management work. If a licensee carries out “real estate agency work” as defined in the Real Estate Agents Act 2008, then that will be subject to the Real Estate Authority’s Code of Conduct and must be authorised under an agency agreement, not a property management agreement. The Real Estate Authority does not regulate a licensee’s conduct while undertaking property management work, unless the conduct reaches the threshold of misconduct. A Complaints Assessment Committee can lay misconduct charges against licensees for conduct outside of real estate agency work. The Residential Property Managers Registration Bill announced in March this year will regulate and address gaps in the residential property management sector.