Regulations for real estate agents updated

  • Mark Mitchell

Regulations governing the education and training of real estate agents have been updated to reflect new qualifications.

Associate Justice Minister Mark Mitchell says the changes to the Real Estate Agents (Licensing) Regulations followed a review of real estate qualifications by the New Zealand Qualifications Authority.

“Since the Real Estate Agents Act was implemented, the law has ensured more consistent training and education for real estate agents along with improved licensing and processes to deal with complaints,” Mr Mitchell says.

“The regulations governing real estate agents need to keep pace with changes in industry training and education. These changes will ensure that the graduates of the new qualifications will be able to apply to the Real Estate Agents Authority for a real estate agent’s licence.”

The changes will come into force on 15 September 2017.

Mr Mitchell also announced that the Government has moved to ensure that New Zealand Institute of Forestry members will be able to continue forestry sector work without needing to be registered real estate agents.

Institute members will be granted an exemption under the Real Estate Agents Act 2008.

“Forestry is a key industry for New Zealand’s economy and the exemption will make it easier for Institute consultants to go about their business when it occasionally includes real estate agency work in the sector,” Mr Mitchell says.

“This is the first time an exemption has been granted under the Act. It has been narrowly defined and includes significant protections for consumers,” Mr Mitchell says.

The exemption will take effect on 1 November 2017.