How ready is the Industry and the Representatives for the changes to take effect tomorrow 17th November 2009. Watch the Headlines.

What does this new Act mean; The purpose of the Act is to promote and protect the interest of Consumers in dealing with the Real Estate industry as a whole and to promote public confidence in the performance of those who undertake such Real Estate Agency work.

The Act now regulates Agents, Branch Managers and Sales persons. This will raise Industry Standards and this is great and well overdue in my opinion.

Furthermore the Industry is now accountable to an independent Real Estate Agents Disciplinary Tribunal with much higher fines for those who commit an offense under the Act.

Who is qualified to undertake Real Agent Agency Work? The Act states “a person must not carry out Real Estate Agency work, or hold themselves out to the public as ready to carry out any work, if that person is not Licensed under the Act or otherwise exempt Section 6.

We’ve compiled this slide show to help explain the implications of the Real Estate Agents Act of 2008 which you can view by clicking here.