Hon Nathan Guy
Associate Minister of Justice

17 November 2009
Media Statement

Minister launches estate agents’ regulator

Associate Justice Minister Nathan Guy today launched the Real Estate Agents’ Authority, a body which will licence real estate agents and tighten up the industry.

Mr Guy says both members of the public and real estate agents are set to benefit from the authority.

“This independent body will provide reassurance to the public and clear standards of performance for industry members. I believe this clear regulation will be hugely beneficial to the profession.

“The public are now able to access an agency which can provide impartial and easy-to-understand information.”

The creation of the authority means the public will now be able to check a free register to see if their real estate agent is licensed, and has been subject to any disciplinary action. The authority also provides a transparent complaints process with serious matters laid before the Real Estate Agents’ Disciplinary Tribunal.

Mr Guy says home buyers and sellers have often found themselves overwhelmed by the complex legal and contractual processes involved in property transactions.

“Owning a home is many Kiwis’ dream. For most, buying a home is the largest investment we make. It’s only fair we make it as simple and clear as possible for all Kiwis to understand the process, their rights and their obligations.

“Equally, when things go wrong, it is important that there is a robust and transparent complaints and discipline process.”

The Real Estate Agents Authority is a Crown entity established under the Real Estate Agents Act 2008. The authority’s board is chaired by Kristy McDonald QC.

ENDS

© Scoop Media