Update on Rebate Statements

Date: 9 Jun 18

There has been an announcement by government today on the issue of rebate statements.  This has come about because of some very recent discussions and correspondence between our CEO, Gil King, the Government and CAV.

The Government has advised that it will amend the Estate Agents Act 1980 to protect agent commissions after contracts with incomplete rebate statements were used.  The Government is taking action to ensure estate agents who have followed their regulatory responsibilities in good faith are paid for the work they performed. 
This announcement will have the effect of stopping all claims on foot as well as any future potential claims against the REIV or its members.  This is an excellent result for the REIV, its members and the real estate profession and a significant win for the REIV.  The legislative fix being worked through is likely be introduced into parliament in the next few weeks. 

Should you have any questions, please contact the REIV on 03 9205 6666 during business hours.

Richard Simpson 
President, REIV