Property agents and Land Transactions Bill 2016 presentation

Written by in Property News on January 30, 2017

The 30th of January will see over 450 real estate agents, property consultants, assistant property managers, conveyancers and lawyers all in the room at the one time.

This is the first time since the introduction of the current Property Agents and Land Transactions Act in 2005 such a large and diverse group of property professionals have met to discuss a NEW Bill that will replace the current Act. This is a game changer for the Real Estate profession with change finally being made that has been called on for a number of years by the Real Estate Institute of Tasmania, said the CEO, Mark Berry.

Over the past 2 years the Real Estate Institute of Tasmania (REIT) with the Property Agents Board (PAB) and the government have been involved in reviewing the Property Agents and Land
Transactions Act.

The Property Agents and Land Transactions Bill will replace the current Property Agents and Land Transactions Act that has been in operation since 2005. Since that time, parts of the Act, namely Part 10, have not been proclaimed and have been described as unworkable. This did affect other sections of the Act and made it confusing to interpret.

The proposed Bill continues licensing for Real Estate Agents and introduces licensing for the newly formed Property Representative. Also commencing will be a requirement for continued education for Property Representatives that has always been the case for the Licensed Real Estate Agent.

“This Industry being as dynamic as it is, it is extremely important that all those acting for purchasers and vendors are as highly skilled and as well educated as possible” said Berry.