5 September 2014
Rosehill, NSW – Estate Agents Co-operative (EAC) is pleased with the outcome of the Regulations review in regard to the ‘Property, Stock and Business Agents Act 2002.’
The process led by the Minister for Fair Trading, Matthew Mason-Cox, was transparent and achieved properly balanced result for property consumers and practitioners. EAC and other industry bodies were united in their views which differed from the vested interests of some large scale property owners and developers who wished to operate their affairs outside established and proven operational rules.
Some of the proposed revisions to the Regulation were deemed to be badly flawed by EAC, and did not properly represent the needs of commercial real estate consumers in New South Wales and accordingly were not supported.
“EAC and other industry bodies have worked together, as we have in the past, to defend agency standards and consumer protection on issues such as this and we have done so again in review of this Regulation” said David Crombie, CEO of EAC. “In this instant EAC worked in conjunction with REINSW to review and provide our feedback relating to the overall negative impact of proposed changes to the Regulation. We are pleased with the result and would like to thank Minister Mason-Cox for the ease of the process and for an outcome that maintained consumer protection and an operational process for practitioners that is clear and consistent.”
For further information regarding the Regulation and how it impacts agents please click here