Buying a property or vehicle in Queensland will be a whole lot easier thanks to new laws passed by the State Government in Parliament last night.
Attorney-General and Minister for Justice Jarrod Bleijie said splitting the Property Agents and Motor Dealers Acts (2000) into separate industry-specific Bills meant an end to the ‘one size fits all’ approach that has burdened Queenslanders with unnecessary red tape when making big purchases.
“This is a win-win for everyone and finally simplifies the stifling regulations that existed under Labor,” Mr Bleijie said.
“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.
“By streamlining the process, we’re reducing costs and other burdens for people buying and selling real estate, property professionals and the broader community.”
Mr Bleijie said Queenslanders would also benefit from a range of key changes to the Act including:
- Removing the requirement for agents to disclose to a buyer the commission the agent is receiving from the seller
- Deregulating agents’ commissions aligning Queensland with other states
- Maintaining the existing cooling off period of 5 days
- Remove the requirement for property developers and their employees to be licensed
- Streamlining the claim fund process to reduce the time taken to assess, decide and pay claims to consumers
- Reducing the number of government forms and incorporate warning statements into contracts
- Providing a simpler licencing framework for real estate agents, resident letting agents and auctioneers
- Extending the statutory limit on lengths of appointments for a sole or exclusive agency from 60 days to 90 days
- Reducing the number of forms requires for motor vehicle transactions
- Providing a system for regulating debt collectors and their employees to protect consumers against undesirable practices associated with debt collection activities
“These changes deliver on the Government’s election commitment to grow a four pillar economy based on tourism, agriculture, resources and property/construction and revitalise frontline services for families by cutting waste,” he said.
“We have consulted with key industry groups to ensure we make it as easy as possible to do business in our state, while still protecting the rights of consumers.”
News Release Attorney-General Jarrod Bleijie
07 May 2014 http://statements.qld.gov.au/Statement/2014/5/7/property-reforms-an-easy-sell-for-queensland