REIQ update from the CEO: 22nd March 2023

You may have heard that the State Government has put rent control back on the agenda. We believe this will act as a blazing red flag to Queensland property investors, shattering what little confidence is left and ultimately driving them away. In the middle of a housing crisis caused by lack of housing supply, it’s extremely concerning that the Government is now proposing a measure which innately discourages further supply. You can read more about our response in our media release.

The REIQ is issuing a reminder to real estate professionals to keep up to date with legislative reforms to avoid making errors and mistakes when dealing with prospective clients and consumers. With the government proposing reforms to potentially lower the threshold to terminate a community title scheme by resolution from 100% of lot owners to 75% of lot owners, the REIQ has become aware of instances where real estate professionals are approaching lot owners about an appointment to sell their lots in response to the proposal. The REIQ has also received numerous reports of clients being approached by other sales agents during an exclusive appointment. We take a look at the potential problems associated with these types of behaviours, including what is unlawful, in this article.

With the Easter and Anzac Day holidays approaching, agency principals will find our article on what rules apply to trading and employee entitlements during these periods useful. Interestingly, real estate offices can trade over the Easter period but Anzac Day is off limits to selling real estate but not to leasing activity. There’s also a helpful reminder of how the statutory cooling-off period for sales applies. Find out more here.

Read my previous article here.

Catch up on the latest news stories here.