Real estate agents and car salesmen separated at last
THE Queensland Government has moved to reduce red tape in the property industry under draft legislation released on Monday.
Attorney-General Jarrod Bleijie said the changes, which would replace the Property Agents and Motor Dealers Act with separate legislation for each industry, would streamline home sale contracts.
"The existing (Act) is a cumbersome law covering more than 23 licence and registration classes across seven industries," he said.
"Our goal with this review is to deliver positive red tape reduction reforms that support industry growth but also maintain a high level of protection for consumers."
Under the proposed changes, real estate agents will no longer be required to demonstrate that the attention of property buyers had been drawn to a separate warning statement about cooling-off periods and legal advice that is required to be attached to contracts.
"Consumers are often overwhelmed by pages of paperwork so they just sign on the dotted line without reading the fine print, which can be dangerous," the Attorney-General said.
"These changes will simplify the process for consumers by incorporating the PAMDA warning statement into the contract, removing unnecessary duplication from the buying process.
"We have already removed sustainability declarations and have drafted new bills to split PAMDA into industry specific acts."
The Real Estate Institute of Queensland welcomed the proposal for property-specific legislation.
"The length and complexity of the (existing) legislation made navigating and complying with the PAMD Act very difficult for real estate practitioners," chairwoman Pamela Bennett said.
"The REIQ has long voiced our concerns about the PAMD Act and we are extremely pleased the focus of the reforms relate to the reduction of red tape and the simplification of the contract process.
"We are particularly pleased with the proposal to eliminate the PAMD Form 30C Warning Statement and the requirement to direct a buyer's attention to it.
"Anecdotal evidence gathered over many years tells us this document, which is multiple pages in length, was largely ignored by buyers and provided no real consumer benefit.
"We are looking forward to providing comments and views that have been formed over many years and are based on feedback from those working on the ground within the real estate profession."
A copy of the draft legislation can be found at fairtrading.qld.gov.au.