The Real Estate Agents Authority is the independent, government regulatory body for the real estate industry in New Zealand. They provide independent oversight of the real estate industry, ensure a high standard of service and professionalism within the industry, and provide increased protection for buyers and sellers of real estate. They are a Crown entity, established under the Real Estate Agents Act 2008.
Their responsibilities are:
- Licensing of people and companies working in the real estate industry
- Maintaining a register of licensees which is available to the public
- Investigating concerns about the behaviour of licensee's
- Setting industry standards
- Providing information to buyers and sellers of real estate
The Real Estate Agents Act 2008 introduced a number of benefits for people who are buying or selling a property:
- The establishment of an independent oversight body for the real estate industry – The Real Estate Agents Authority
- The introduction of an independent, fair and open process for addressing concerns about the behaviour of licensees
- New responsibilities for real estate licensees including information that must be provided to buyers and sellers
- A Code of Professional Conduct and Client Care which those working in the real estate industry must follow and is a reference point for discipline
- Information that will help you through the property buying and selling process
- Higher industry standards as a result of increased industry entry requirements and continuing education
- A searchable public register of licensees that helps you to make an informed decision when choosing the person to sell your property. You will be able to check whether the person you are considering dealing with is licensed; find out how to contact them; check the history of the person's licence; check their recent individual disciplinary record.
The website provides information on some of the key aspects of the Real Estate Agents Act 2008 (the Act). It is provided for information only and is not intended to provide legal advice on the interpretation of the Act.
Please click here to go to the Real Estate Agents Authority website
REAA Residential Property Agency Agreement Guide
REAA Residential Sales & Purchase Guide