The Real Estate Agents Authority Gets Down to Business!

The real estate Complaints Assessment Committee (CAC), part of the Real Estate Agents Authority (REAA) has made its first decision. A North Shore real estate agent was found guilty unsatisfactory conduct.

The daughter of a recently widowed woman complained after her mother received a condolence card from a real estate agent soon after her husband’s death that included a business card and a valuation of the mother’s house.

As a result of this solicitation, the real estate agent was found by the CAC to be in breach of the authority’s Code of Professional Conduct and Client Care for the manner she approached the complainants mother.

This is first of many assessments and decisions to be made by the CAC – there are another 200 complaints currently in the pipeline!

If you are buying or selling a home you should be aware that real estate agents are required to comply with the Real Estate Agents Act 2008. This Act introduces changes into the real estate industry that will benefit the buyers and sellers of houses.

One more obvious change brought about by this new Act is that buyers and sellers (before signing a sale and purchase agreement) must get a copy of the New Zealand Residential Property Sale & Purchase Agreements Guide from their real estate agent! This guide has all the essential info that you must know before signing a sale and purchase agreement.

This act also saw the creation of the REAA. The REAA launched in November 2009 with a focus of high standards of service and professionalism within the real estate industry, and to provide increased protection for buyers and sellers of houses. The REAA provides independent oversight of the NZ real estate industry and in conjunction with the Act hopes to promote public confidence in the industry.

The REAA replaces the Real Estate Institute of NZ (REINZ) and now handles licensing of people and companies working in real estate, investigation of complaints from consumers (the CAC), disciplinary action (the Real Estate Agents Disciplinary Tribunal), setting industry standards, and providing information to buyers and sellers of houses.

Want to know what to expect from a real estate agent – check out the Code of Professional Conduct and Client Care . This code was published as a result of the Real Estate Agents Act 2008 - those working in the real estate industry must follow this code and it is a reference point for discipline.

You can even check a real estate agents license details here, including checking whether they are licensed, finding out how to contact them, check the history of their licence and check their recent individual disciplinary record.

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