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The Property Agents and Motor Dealers Acts 2000 has been divided into two industry-specific Bills, cutting red-tape when buying big ticket items.
Attorney-General and Minister for Justice Jarrod Bleijie says it’s a win-win situation for everyone and simplifies the regulations involved.“Buying a house or car is one of the biggest decisions we can make in our lifetime and the simpler we make the process, the greater Queenslanders are protected.
“We found consumers were often overwhelmed with paperwork, costing themselves and the seller precious dollars while they deciphered the fine print,” he says.Key changes to the Act include deregulating agents’ commissions to align with other states, streamlining claim funds, reducing the number of forms and developing an easier license system for the real estate industry.
Bleijie says a number of key industry groups were involved with renewing the Act to protect the rights of consumers.“By streamlining the process, we’re reducing costs and other burdens for people buying and selling real estate, property professionals and the broader community.”
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