Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Real estate industry proposals fall short

Real estate industry proposals fall short

Associate Justice Minister Clayton Cosgrove said he was disappointed with industry proposals to improve the regulation of real estate agents presented by the Real Estate Institute of New Zealand (REINZ) at a meeting today.

In October this year Mr Cosgrove asked REINZ to come up with a reform package that would deliver an open, transparent and independent complaints and disciplinary regime. He also requested that REINZ revamp up its code of ethics for consumer protection.

The move was prompted by concerns over how complaints by the public were being processed and whether provisions available under the Real Estate Agents Act 1976 - including the ability to suspend or strike off agents - were being fully utilised. Mr Cosgrove thanked REINZ for its efforts, but said the proposals he received today fall well short of his expectations.

"The Institute's main proposal to set up a new 'Review Committee' consisting of a REINZ legal counsel, a REINZ national councillor and an external legal compliance specialist to hear all complaints, is no more independent than the current structure," he said. "There is also no apparent transparency and very little in this package to give New Zealanders confidence that their rights are being protected."

"Consumers need a fair, open and transparent system which allows complaints to be resolved quickly and holds licencees and salespersons accountable," Mr Cosgrove said. "These proposals let down both the consumer and the industry."

Mr Cosgrove said he is reluctant to spend taxpayer money on changing the legislation as there are already tough enough provisions in the Act.

"However I have told the Real Estate Institute today that I have instructed the Ministry of Justice to develop a range of legislative and non-legislative options to deliver an open, transparent and independent disciplinary regime that will protect consumers and decent ethical real estate agents from the sharks in the industry."

Mr Cosgrove said Justice officials would report back to him in February 2007.


ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news