Online ads for new real estate agents will cut licensing costs

Amendments gazetted today to real estate agent regulations will reduce unnecessary compliance costs, says Associate Justice Minister Chester Borrows.

Under the current system applicants for a real estate licence have to publish two notices of their intention to apply in approved newspapers.

“That approach is costly, cumbersome, and ineffective” Mr Borrows says.

Instead of taking out newspaper ads, any person wanting to become a real estate licensee would be required to declare their intention to apply for a real estate licence on the Real Estate Authority’s website. 

“This amendment is good for new real estate agents, who will now have an easier and cheaper way of complying with notification requirements.  It is also good for members of the public, who will have a single location to view applicants for real estate licences.

“The change also supports our Better Public Services goal that that New Zealanders should increasingly be able to complete their transactions with the Government in a digital environment,” Mr Borrows says.

This amendment to the Real Estate Agents (Licensing) Amendment Regulations 2014 will come into effect on 31 July 2014.