Page 4134 - Week 15 - Thursday, 17 December 1992
Next page . . . . Previous page . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .
CHIEF MINISTER FOR THE AUSTRALIAN CAPITAL TERRITORY
LEGISLATIVE ASSEMLY QUESTION
Question No. 271
Consumer Protection - Real Estate Agents
Mr De Domenico - Asked the Chief Minister upon notice on 12 August 1992:
(1) Did the Chief Minister see a large advertisement placed by Realty World Pty Ltd in the Canberra Times on Saturday 8 August 1992 buying and selling real estate especially in New South Wales.
(2) Is the view of Realty World that "Canberra is years behind in consumer protection" acceptable.
(3) Is the assertion by Realty World that buyers deposits are "not protected in a
Canberra Bank" correct.
(4) Can she confirm that Real Estate agents trust accounts in the ACT are in fact
subject to the same controls of spot audit and fidelity fund as in New SoufhWales
and Real Estate Agents are subject to the same police checks as in -New South
Wales.
Can the Chief Minister advise the Assembly of the number of agents in the ACT who have lost their licence or otherwise been disciplined for improper practices.
(6) Does this not indicate that the claims of Realty World are misleading and that in
fact Canberra buyers and sellers have the full protection of the law and can deal
in full confidence with Real Estate agents in ACT.
(7) Given that this. advertisement may have been misleading and caused unnecessary
anxiety to buyers and sellers in Canberra and will she repudiate it.
Chief Minister - The answer to the members question is as follows:
(1) I have been made aware of the advertisement placed by Rzdty Lad:
(2) The claim made by Realty World that "Canberra is years behind is consumer
protection" is clearly not acceptable.
The Agents Act 1968 covers the registration and licensing of real estate agents, the regulation of their conduct, particularly in terms of responsibilities to principals, and the requirement to maintain a trust account. Companies are also held accountable under the rules of conduct for the actions of directors and employees. Consumers can therefore deaf with licensed agents in the ACT in the knowledge that they are dealing with qualified and experienced professionals and are also afforded the protection of the Fidelity Guarantee Fund.
4134
Next page . . . . Previous page . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .