Reform Section 55 - Join The Discussion

Section 55 of the Estate Agents Act prohibits an agent from receiving a commission for selling a property to relative or associated person. This can mean that the agency doesn’t get paid for their services even while delivering a great outcome for the vendor.

The REIV is strongly advocating to protect the agent’s fee while ensuring that all appropriate consumer protections are in place. Consumer protections may include, express consent from the vendor, formal documentation, cooling off period for the vendor etc.

The current structure creates significant risk management issues for all agencies whether it’s a sole trader in regional Victoria or a large franchisee in metro Melbourne. It is essential that this legislation balances the need to avoid a conflict of interest, with the fundamental right of estate agents to receive fair payment for their services.

Members are invited to join an REIV virtual meeting to share real life case studies and possible solutions that can be presented to government in our efforts to have a fairer outcome for agents.

Meeting link and access details will be provided the morning prior. Please contact [email protected] should you have any queries.

Note : This is a Member-only event so please log in with your personal membership details to book. This online forum is free for Members but bookings are essential. Members will also receive 2 CPD points for attending.

 

COORDINATOR

Gil King
Chief Executive Officer, REIV
Gil King joined the REIV as CEO in early 2017. Gil brings a wealth of experience to the role, both within membership organisations and within policy and regulatory environments. He has had over 20 years’ involvement in the building industry, including as Director Regulatory Compliance at the Victorian Building Commission (now Victorian Building Authority).


 

PRICING 

Free for REIV Members. Members must login to book.

Duration : 60 minutes (approx.)
 

Not a Member? Join Now