Have your say on NSW laws for real estate, strata, assistant and stock and station agents
1 July 2022
NSW Fair Trading is inviting feedback on the proposed new Property and Stock Agents Regulation 2022.
The current Regulation supports the Property and Stock Agents Act 2002 and is due to expire on 1 September 2022.
The proposed new Regulation has been modernised and improved with more clarity, better consumer protections and less administrative load for agents. It keeps many of the existing rules of the current Regulation with some minor changes, including:
You can have your say by completing the online survey or uploading a submission. Feedback entries close at 5 PM Wednesday, 6 July 2022.
new arrangements to make it easier for strata and community land schemes to access information from a strata managing agent
strengthening the requirements for agents to disclose information about expression of interest deposits and returning deposits to potential buyers
reducing the current thresholds for major property holdings
reducing the administrative load for agents by changing the disclosure of material facts requirements – that is, agents dealing with prospective tenants only need to disclose the material facts outlined in the Residential Tenancies Act 2010.