REIQ Governance and Annual Report

CONSTITUTION

The REIQ is governed by a Constitution which sets out clear rules and guiding principles for the organisation.
With a focus on servicing its members and the Queensland real estate profession, the Constitution provides the framework to ensure the REIQ remains a leader in the profession.

View the current REIQ Constitution »

BY-LAWS

The REIQ operates under a set of by-laws which reflect the organisation’s commitment to servicing the needs of its members and the profession.

View the REIQ By-laws »

STANDARDS

As a profession leader and representative, the REIQ has a valued reputation for encouraging the highest ethical standards among its members.

The REIQ Standards of Business Practice were developed with the objective of increasing the accountability of members in carrying on the business of a real estate agent or auctioneer in Queensland.

The objective is to be achieved by:

  • Setting standards for Institute Members in dealing with each other and with the public that surpass statutory requirements
  • Establishing principles for fair trading by Institute Members in real estate and auctioneering practice
  • Providing for a system for resolving complaints against Institute Members about real estate agency and auctioneering practice

Members of the REIQ are required to abide by the Standards of Business Practice, thereby conducting business in a manner that will uphold and enhance the reputation of the real estate profession.

View the REIQ Standards of Business Practice »

STRATEGIC PLAN

VISION

To be the State’s peak real estate organisation universally recognised for its leadership in the profession and its relevance to real estate practitioners, governments and the community.

VALUES

Stewardship: Fulfilling our obligation of building a better, stronger and more durable organisation for future generations, protecting the REIQ brand, and promoting property investment.

Best People: Attracting, developing and retaining the best talent for our business, challenging our people, demonstrating a positive attitude, agility and fostering a collaborative and mutually supportive environment to achieve a financially stable and strategically driven organisation.

Member Value Creation: Enabling members to become high-performance businesses and creating long-term relationships with them by being responsive and relevant and by consistently delivering valuable services that engage members and assist them in running their businesses.

Respect for the Individual: Valuing diversity and unique contributions, fostering a trusting, open and inclusive environment and treating each person with dignity and respect.

Integrity: Being ethically unyielding and honest and inspiring trust by saying what we mean, matching our behaviors to our words and taking responsibility for our actions.

The REIQ will be by 2017


  1. Seen as a partner of choice by its members, the first point of call for assistance, advice and guidance
  2. Provide relevant services to all segments of the real estate profession
  3. Have a wide range of strategic partnerships with other organisations and individuals in order to provide benefits to members and create a more efficient Institute
  4. The first point of call for all consumers on real estate matters
  5. Will be to all levels of government the preferred and most recognised voice on matters of real estate
  6. Will have a mature governance model and systems
  7. A leader in a new national structure of Real Estate Institutes
By 
  1. Developing a wide range of value add services to all categories of members
  2. Developing a member focused resource rich web presence
  3. Moving REIQ awards to a consumer based nomination system
  4. Developing a governance model
  5. Improving the board director review process
  6. Improving the integrity of our research
  7. Developing a higher profile within the general community and ensuring all services are branded consistently REIQ
  8. Actively Participating in the national discussion on the federation model
  9. Developing government lobbying approach that actively involves the members

NOMINATION OF EXPERTS

The REIQ is commonly requested by third parties (for example, parties to Court proceedings or parties to lease agreements) to nominate auctioneers, real estate agents or valuers (‘Expert’) for the auction, sale or valuation of interests in real property.

These guidelines set out the steps to be taken by the REIQ in this process and the conditions upon which the REIQ accepts the request to nominate an Expert.

  1. The usual form in which the REIQ will receive a request to nominate an Expert will be in correspondence from the parties’ solicitors. The request, for example, may arise out of the terms of Court orders which provide that, in the event that the parties are unable to agree on the reserve price, list price or valuation of real property, the REIQ will be requested to nominate an Expert.
  2. When the REIQ receives a request to nominate an Expert, the REIQ will send correspondence to the parties outlining the basis on which the nomination will be made. If the request is one made pursuant to a Court order, a lease or on any other basis, then the REIQ must be provided with a copy of the document that records the basis of the request (for example, if the request is made pursuant to the terms of a Court order, then the REIQ must be provided with a copy of the Court order).
  3. The REIQ’s fee for providing this service is $330 (GST inclusive) per nomination. The fee must be paid to the REIQ before the REIQ nominates an Expert pursuant to the request.
    Note: Commissions and fees payable to the Expert will be advised and charged separately by the nominated Expert.
  4. Unless the REIQ is advised in writing that a party does not agree to the appointment being made on this basis and, upon receipt of the fee of $330 per nomination, steps will be taken to make the requested nomination.
  5. When an Expert is selected by the REIQ, the REIQ will send correspondence to the Expert. If the request has been made pursuant to a Court order, lease or on any other basis, then the Expert must be provided with a copy of the document that records the basis of the request (for example, if the request is made pursuant to the terms of a Court order, then the Expert must be provided with a copy of the Court order).
  6. If the Expert accepts the nomination, he or she must do so in writing. The Expert must also confirm in writing that he or she has no conflict in the matter by reference to the identity of the third parties.
  7. If the Expert accepts the nomination, the REIQ will advise the parties of the nomination in writing.
  8. Neither the REIQ, its officers, employees or agents accept any liability in respect of the nomination, and that the parties indemnify the REIQ, its officers, employees, agents and former officers, employees and agents against any claim in respect of, or in connection with, the nomination.
  9. The extent of the REIQ’s engagement is to nominate the Expert and that, once the parties have been advised of the nomination, the REIQ’s involvement in respect of the request ceases.

Requests for the nomination of an expert should be forwarded to:
Chief Executive Officer
The Real Estate Institute of Queensland 
PO Box 1555 
Coorparoo DC Qld 4151

or by email

ANNUAL REPORT



The Real Estate Institute of Queensland Annual Report 2015/16 is now available.
Click here to view the report.  
For further information, please phone 07 3249 7320 or send an email