Real estate agent selection agencies should be treated the same as financial advisers and directly renumerated by the vendor, according to the Real Estate Institute of Australia (REIA).
In a submission to the Royal Commission into Misconduct in the Banking Industry REIA President Malcolm Gunning said there has been a proliferation of businesses established to assist vendors selling their homes by choosing an agent for them.
“These businesses portray themselves as an impartial consumer advocate offering a free service to choose the most suitable agent for marketing their property,” Mr Gunning said.
Download the full media release here:
GROWTH IN HOUSING FINANCE APPROVALS RESUMES
2021 OFFERS UNIQUE OPPORTUNITY FOR LATE AUTUMN AND WINTER SALES
RENTS CONTINUE RECOVERY FROM COVID IMPACT
All-star line-up for REIA National Awards for Excellence 2021 to be held in the Top End
HOMES SHOULD BE AT THE HEART OF BUDGET 2021 AS AUSSIE JOBS COME BACK ONLINE
RAPID GROWTH IN HOUSING FINANCE APPROVALS SLOWING DOWN
AUSTRALIAN HOUSING PRICES SOAR BY 500% OVER PAST 25 YEARS