Notices passe for real estate agents

CATHERINE HARRIS
Last updated 05:00 04/08/2014

Relevant offers

Industries

Chinese company Binxi withdraws takeover offer for Southland's Blue Sky Meats Queenstown plans for new Holiday Inn Express unveiled Xero passes million-customer milestone Another New Zealand Post and Kiwibank closes its doors Chart of the day: How many Kiwis are jetting overseas from Auckland Airport? Kiwis for kiwi reap sweet rewards from Whittaker's partnership Focus, not politics, the order of the day in Silicon Valley The 12 jobs most at risk of being replaced by robots Media Take: Tackling feminism and rape culture Fairfax NZME merger decision delayed again, until May

The number of real estate agents entering or re-entering the industry is on the rise, but public notices of applications will no longer be put in print.

Agent numbers dropped after the global financial crisis, but Real Estate Agents Authority chief executive Kevin Lampen-Smith said the number of agents had climbed steadily over the past three years.

There were now nearly 13,000 active licences, up 5 per cent in the past year.

"The average age in the industry is about 51, and so each year you'll get a few dropping off, but in the last couple of years we've had a net 1000 increase."

The new licences were evenly spread and not just based in the hot Auckland market, he said.

In response to the rising numbers, the authority is dropping its requirement for aspiring agents to advertise their application in two newspapers.

Would-be agents will instead declare their intentions on the authority's website.

Lampen-Smith said it was a practical move.

"There's basically hundreds of thousands of dollars being spent every year by licensees which really wasn't adding much value to the decision we make - which is: ‘Is this person a fit and proper person to be given a licence'?"

He said the public should take comfort from the authority's checks and balances.

Consumer NZ head Sue Chetwin said she was not concerned about the change as long as the public knew where the details were. Information was inexorably moving online, she said.

Real Estate Institute chief executive Helen O'Sullivan supported the move. She said the authority's move to centralise the details would make scrutiny easier. Fairfax NZ

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content