Submission: Property and Stock Agents Regulation – Remaking Rules for Property Agents

This is a brief submission on the changes proposed in the new Property and Stock Agents Regulation 2022. Our comments are focussed on the main changes in relation to:

• Misrepresentation by licensee or registered person by failing to disclose material facts
• Use of a collection agent to collect rent

Our recommendations are:

1. No exemption be provided under the Regulation to real estate agents and assistant real estate agents from the disclosure requirements in section 52(1)(b) of the Act in relation to residential tenancy agreements.
2. Part 2, section 12 Use of collection agent to collect rent be retained in the proposed new Regulation.