|
New Zealand declares war on rogue estate agents
After a number of recent incidents, the head of the Real Estate Institute of New Zealand (REINZ) has called for a dramatic increase in the penalties that can be imposed on rogue estate agents...
Newly elected President of REINZ, Murray Cleland, told the press a “new, tougher stance” was needed following investigations into the country’s Real Estate Agents Licensing Board. The investigation led to three agents having their licences revoked for various misdemeanours; a further six people are currently under investigation.
Cleland noted that the maximum level of fines that can be levied at rogue agents has not been reviewed since 1976, adding that “more realistic” fines were required to deter illegal activity.
Estate agents were recently voted the least trustworthy people in New Zealand in a popular poll. REINZ has since published two books aimed at ensuring its 17,000 members are totally informed as to the regulations governing their activities.
|