Appointments By The REIV

Appointments By The REIV

Applications can be made to the REIV to appoint Valuers or Real Estate Agents in certain situations:

  • Family law matters where a court order requests the REIV to nominate a selling agent.

  • Commercial and industrial rental determinations.

The REIV appoints a suitable and appropriately qualified Member in response to applications. Where possible, REIV seeks to ensure that there is no conflict of interest with the appointed valuer or agent. 

In all other instances where are you are searching for a suitable valuer or estate agent, please refer to the REIV Member Search or contact us.

Eligible applications:

  • Where the Retail Leases Act 2003 (“RLA”) applies to a lease, if the Landlord and Tenant (the parties) cannot agree on the appointment of a valuer to determine the rent, either party can request that the Small Business Commissioner (SBC) appoint a specialist retail valuer. In so doing, the SBC will seek a recommendation from the REIV or the API, guided by terms of the Lease. 

  • The parties could instead agree to a valuer being appointed by the REIV or API, depending on the terms of the Lease.

  • If the RLA does not apply, and the lease provides for the REIV to make an appointment to determine a dispute or the rent, the parties can apply to the REIV for that purpose.

For the REIV to act on an application for rental determination, the terms of the lease MUST specify the REIV to make an appointment to determine a dispute. If these terms are not in place the REIV is unable to make an appointment for the determination.

Who can apply:

Either party can make an application to the REIV, however the process requires both the Landlord and the Tenant to:

  • complete, sign and return the REIV Rental Determination Application forms ; 

  • agree that the REIV’s terms and conditions are binding; 

  • supply all information specified in the application form; 

  • share the cost of the rental determination equally; 

  • pay in advance to the REIV by EFT :

    • a non-refundable REIV administration fee; and

    • a security deposit to go towards the valuer’s fees and expenses, based on the annual asking rental; 

  • pay any balance owing directly to the valuer; and

  • accept the valuer will act as a valuer, not as an arbitrator; and

  • accept the valuer’s determination as final and binding.

(Note: the REIV will refund any balance of the security deposit remaining equally to the landlord and tenant, if the fee for the determination is less than the total security deposit).

The REIV Rental Determination Application Form is a writable pdf. Signed forms and supporting documents must be sent to the REIV by e-mail: appointments@reiv.com.au 

When all required information has been provided, an appointment is generally made in 5-10 business days.

Fees and expenses

A non-refundable REIV administration fee and security deposit to go towards the valuer’s fees and expenses, based on the annual asking rental is required before proceeding.

The REIV may consider requests for the appointment of a selling agent for family law matters where a court order requests the REIV to nominate a selling agent.

Eligible applications:

A court order requests the REIV to appoint an agent to:

  • to assess the current market value of a property;

  • to set the reserve price for a property and conduct an auction;

Information required:

Details of parties: 

  • names of the parties;

  • the parties’ email addresses, phone numbers, and postal addresses;

  • if the parties are represented, the names of their lawyers and their lawyers’ email addresses and phone numbers.

Details of the property:

  • the property/ business address

  • brief description of the type of property, Eg –commercial, industrial, residential, rural; improvements, if any; goods, if any.

  • Any supporting documents, the court orders with the court’s seal endorsed; relevant correspondence between the parties

  • Identify any valuers, agents or both to be considered for or excluded from appointment.

Fees and expenses

  • An administration fee will apply. 

  • The appointed valuer and/or estate agent will charge a fee or commission for their services which should be agreed to directly when engaging their services. This can be negotiated between the parties once the appointment is made and the REIV plays no role in this.

  • Additional expenses may also apply.

Complete the Appointment of a Selling Agent Application Form here.

Contact
Email: appointments@reiv.com.au         Phone:   03 9205 6666