Major Advocacy Areas
Due to the scope and complexity of the Estate Agents Act, the REIV has advocated on and documented diverse policy positions and issues. This is not an exhaustive list of matters under consideration or engagement by the REIV.
Estate Agents Act 1980
The Estate Agents Act 1980 provides the legal framework for regulating, licensing, and ensuring the professional conduct of estate agents, their representatives, and estate agency businesses in Victoria.
OVERVIEW
The Estate Agents Act 1980 governs the operation, responsibilities, and conduct of real estate professionals engaged in the sale, leasing, and management of property in Victoria. It establishes the legal foundation for agent licensing, trust accounting, professional standards, and consumer protection. The Act also sets out disciplinary processes, dispute resolution mechanisms, and the operation of key consumer protection funds such as the Victorian Property Fund.
Together with the Estate Agents Regulations 2020, the framework supports professional integrity, transparency, and accountability within Victoria’s real estate industry, ensuring that agents act in the best interests of clients and maintain appropriate financial and ethical standards.
Major Advocacy Areas:
At a Glance
- ◘
The Estate Agents Act 1980 regulates the licensing, conduct, and obligations of real estate professionals and agencies in Victoria.
- ◘
The Act and Regulations establish professional, financial, and consumer protection requirements to ensure integrity across the real estate sector.
- ◘
The REIV advocates for reforms that strengthen professional standards, promote ongoing professional development, and support a skilled, knowledgeable, and future-ready real estate workforce.
Key Documents
Estate Agents Act 1980
Provides the framework for licensing, conduct, and consumer protection in the real estate industry.
Estate Agents (Professional Conduct) Regulations 2018
Prescribes the professional and ethical standards governing the conduct of estate agents and agents’ representatives.
Estate Agents (Education) Regulations 2020
Outlines the prescribed qualifications, training requirements, and approved courses necessary to obtain or renew an estate agent’s licence or agents’ representative certificate.
Property Market Review
April 2022
In April 2022, the REIV made a comprehensive submission to the Victorian Government’s Property Market Review, highlighting the real estate sector’s vital role in the state’s economy and calling for balanced, evidence-based reform to strengthen professionalism, transparency, and consumer confidence.
Key recommendations included:
Improving price quoting rules to ensure fair and accurate market information
Introducing stronger disclosure and transparency requirements across all property sales
Mandating ongoing professional development (CPD) for agents and representatives
Enhancing compliance and oversight of property transactions
Reviewing property taxes and tenancy laws to support investment and housing supply
The REIV reaffirmed its commitment to working with the government to deliver a fair, transparent, and well-regulated property market that supports both consumer protection and the long-term sustainability of Victoria’s housing sector.
Response to draft Estate Agents (Education) Regulations 2020
September 2020
In September 2020, the REIV provided a detailed submission to Consumer Affairs Victoria in response to the Regulatory Impact Statement for the draft Estate Agents (Education) Regulations 2020. The Institute strongly supported higher education standards for the profession but raised concerns about the RIS’s tone and its limited recognition of the industry’s commitment to professionalism.
Key recommendations included:
Supporting higher qualification standards for both agents and representatives
Endorsing the proposed Certificate IV and Diploma course structures
Calling for stronger oversight of training providers to ensure course quality
Opposing any deregulation that would reduce education standards
Supporting a clear pathway for professional development and CPD
Recommending flexibility in implementation and funding arrangements
The REIV reaffirmed its commitment to a qualified, professional, and job-ready real estate workforce and called for stronger collaboration with government to ensure education standards reflect the complexity and responsibility of modern real estate practice in Victoria.
Section 55
November 2018
In November 2018, the REIV submitted to Consumer Affairs Victoria regarding Section 55 of the Estate Agents Act, which prohibits agents, their representatives, or associated persons from receiving commission when acquiring an interest in a property they are selling. The Institute highlighted that while the provision was intended to protect consumers, it has created unfair outcomes for agents and vendors, particularly in regional areas and small markets.
Key recommendations included:
Repealing the overly restrictive Section 55 provisions while maintaining appropriate consumer protections
Allowing agents or associated persons to receive commission when acting honestly and reasonably, with written vendor consent
Limiting any cooling-off period to five business days rather than the proposed 21 days
Ensuring transparency and fairness in transactions involving agency-associated buyers
Addressing unintended consequences at auctions and in regional markets that disadvantage vendors and agencies
The REIV emphasised the need to balance consumer protection with the right of agents to receive fair payment for their work and to ensure that legislation reflects modern real estate practice in both metropolitan and regional Victoria.
Response to draft Estate Agents (Professional Conduct) Regulations 2018
March 2018
In March 2018, the REIV provided detailed feedback to Consumer Affairs Victoria on the draft Estate Agents (Professional Conduct) Regulations 2018. The submission raised significant concerns about duplication, clarity, and practicality, noting that many of the proposed provisions repeated existing obligations under the Estate Agents Act 1980, the Residential Tenancies Act 1997, and the Australian Consumer Law.
Key recommendations included:
Removing duplicated obligations already addressed under the Australian Consumer Law and other property legislation
Retaining the existing “act fairly and honestly” requirement without adding unnecessary terms such as “in good faith”
Clarifying the scope of agents’ maintenance responsibilities under management agreements
Deleting or revising provisions that created ambiguity or compliance risks for agents and property managers
Ensuring dispute resolution requirements balance accountability with workplace safety for agency staff
The REIV called for a more streamlined and coherent set of conduct regulations that maintain integrity and consumer protection without imposing unnecessary administrative overlap or confusion.