Victorian estate agent facing disciplinary action for poor conduct

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Victorian estate agent facing disciplinary action for poor conduct

4 September 2023

An estate agent in Victoria is alleged to have failed to have their trust accounts audited on a yearly basis for several years, according to Consumer Affairs Victoria (CAV) in a media release published today.

Consumer Affairs Victoria Director Nicole Rich commented on the issue, stating, ‘real estate agents operate in a position of trust within the community. They’re responsible for facilitating the biggest financial undertakings many people make in their lifetime - buying their own home,’ and 'Consumer Affairs Victoria will continue to investigate and take action against agents who break that trust and tarnish the industry’s reputation'.

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New laws around minimum housing standards commence 1 September 2023 in Queensland

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New laws around minimum housing standards commence 1 September 2023 in Queensland

1 September 2023

The Queensland Residential Tenancies Authority (RTA) has announced the introduction of minimum housing standards for all new tenancies from 1 September 2023, meaning that if a tenancy agreement is signed or renewed from this date, the property must meet minimum housing standards. The new laws around minimum housing standards will apply to all remaining residential tenancies from 1 September 2024, providing landlords with the opportunity to bring their currently-tenanted rental properties up to speed with the changes.

The RTA has also released updated forms for residential tenancies to reflect the new laws around minimum housing standards.

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Rent bidding illegal in South Australia from 1 September 2023

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Rent bidding illegal in South Australia from 1 September 2023

1 September 2023

After placing a ban on rent bidding in July, South Australia Consumer and Business Services (CBS) has today announced that the practice of rent bidding is officially illegal in the state of South Australia. A landlord or agent found to be soliciting rent bids may be fined up to $20,000.

According to CBS, under the reforms:

  • Landlords or agents must now advertise premises at a fixed amount and must not solicit or otherwise invite an offer for higher rent. This means landlords are no longer able to advertise properties with a rent range, put properties up for rent auction, or solicit offers over the advertised rental price.

  • Additionally, where a third party is facilitating tenancy applications, any rating or assessment of a prospective tenant must not be based on an offer of higher rent.

  • A penalty of up to $20,000 will apply for breaches of the new rent bidding laws.

  • This significant reform brings South Australia in line with other Australian jurisdictions.

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Further reforms to rent bidding in NSW

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Further reforms to rent bidding in NSW

31 August 2023

In the latest issue of ‘Property Matters’, the NSW Government has outlined the progress it has made in strengthening the rules around rent bidding in the state.

Two significant updates to the rent bidding laws started on Thursday 3 August 2023: 

  • Advertisements for residential rental properties must have a fixed price.

  • It is unlawful for anyone, including landlords and digital rental application providers, to invite or ask for offers of rent for residential premises higher than the advertised price. 

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NSW Continuing Professional Development (CPD) for multi-licence holders clarified

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NSW Continuing Professional Development (CPD) for multi-licence holders clarified

31 August 2023

In the latest issue of ‘Property Matters’, NSW Fair Trading has provided clarification around the Continuing Professional Development (CPD) requirements for individuals who hold multiple licences.

NSW Fair Trading has stated that, if you hold more than one category of property licence in NSW (for example, a real estate and a stock and station licence), “you must complete a baseline minimum of four hours CPD for the year and at least three compulsory topics in each category of licence you hold.”

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NSW licensees in charge: Ensure assistant agents are qualified by March 2024

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NSW licensees in charge: Ensure assistant agents are qualified by March 2024

31 August 2023

In the latest issue of ‘Property Matters’, NSW Fair Trading has reminded licensees in charge that they must ensure any assistant agents working under their supervision since March 2020 must apply for their Class 2 licence by 22 March 2024.

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Queensland Fair Trading charges Cairns real estate agent over 13 offences

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Queensland Fair Trading charges Cairns real estate agent over 13 offences

11 August 2023

Queensland Fair Trading has released a media statement on its website today, outlining an agent’s requirement to pay over $13,300 in fines and compensation after pleading guilty to a total of 13 charges laid by Fair Trading. The charges relate to trust account breaches and charging clients for unauthorised expenses.

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Consumer Affairs Victoria commences action against agency for practising while unlicensed

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Consumer Affairs Victoria commences action against agency for practising while unlicensed

3 August 2023

In a media release posted online today, Consumer Affairs Victoria (CAV) has announced the commencement of court action against an agency after it was found to be acting whilst unlicensed.

The Sunshine-based agency is reported to face up to $165,220 in potential fines. Additionally, it also faces charges of:

  • failing to notify the Director of CAV within 14 days of opening a statutory trust account, and

  • failing to meet an inspector’s investigation requirements, as required under the Estate Agents Act.

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NSW stock agent news: Sheep and goat electronic ID grants open for saleyards and processors

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NSW stock agent news: Sheep and goat electronic ID grants open for saleyards and processors

1 August 2023

In a media release today, the NSW Minister for Agriculture, Tara Moriarty, announces that applications are now open for saleyards and processors to apply for part of the $38 million ‘Sheep and Goat eID Infrastructure Rebate Scheme’. It is understood that the electronic identification (eID) support for the NSW sheep and goat industries intends to boost biosecurity in NSW.

So, when can stock and station agents apply?

  • The application window for the NSW Sheep and Goat eID Infrastructure Rebate Scheme for saleyards and processors is from 1 August until 31 January 2024, and 3 October until 31 March 2024 for producers and stock and station agents.

  • Early applications are encouraged, as funding is limited, and applications will be considered in order of date received.

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Victorian agents hit with over $500k in fines for underquoting

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Victorian agents hit with over $500k in fines for underquoting

31 July 2023

An underquoting taskforce established by Consumer Affairs Victoria (CAV) has announced that it observed twenty-nine agencies engage in the dishonest act of underquoting from the year 2022 to 2023.

CAV reports that in the 12 months to June 30, “inspectors issued 48 underquoting infringement notices totalling more than $520,000 and issued 37 official warnings to 29 estate agencies”.

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NSW Government announces change to temporary accommodation access support people in crisis

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NSW Government announces change to temporary accommodation access support people in crisis

12 July 2023

The NSW Government has announced in a media release today that it plans to make longer-term temporary accommodation more accessible to women and children escaping domestic and family violence, disaster victim-survivors, rough sleepers, and couch surfers.

Under the reforms, people in need can now access an initial period of seven days of temporary accommodation, instead of two days.

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Queensland Residential Tenancies Authority reports over 114,000 outstanding bond payments

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Queensland Residential Tenancies Authority reports over 114,000 outstanding bond payments

11 July 2023

The Queensland Residential Tenancies Authority (RTA) is campaigning for tenants to check whether they may have unclaimed bond money being held by the RTA. The RTA has reported the following:

  • more than 114,000 outstanding bond payments are yet to be claimed, with almost half (46%) worth more than $300.

  • the average value of an outstanding bond payment held with the RTA is $454.99.

  • the oldest outstanding bond payment dates back to 1990.

Tenants can submit an online enquiry via the RTA website to check their records and apply to receive any bond money belonging to them.

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