50 signatures reached
To: Minister for Better Regulation and Fair Trading
A Royal Commission into Real Estate Practices
Buying a home is one of the biggest financial decisions many Australians will make in their lifetime.
However, despite the many laws and regulations you must follow to become a real estate agent, many licensees in charge are still neglecting the legal responsibilities designed - to protect owners, tenants and workers under the various laws they are bound by.
Not only has this chronic neglect caused an unsafe workplace for staff, but is a major factor in the increase of house prices and the sale/rental of ‘lemon homes’.
How many people must be financially ruined, injured or die before government action is taken?
It’s time to consider proper enforcement of legislation and have a royal commission into real estate practices.
However, despite the many laws and regulations you must follow to become a real estate agent, many licensees in charge are still neglecting the legal responsibilities designed - to protect owners, tenants and workers under the various laws they are bound by.
Not only has this chronic neglect caused an unsafe workplace for staff, but is a major factor in the increase of house prices and the sale/rental of ‘lemon homes’.
How many people must be financially ruined, injured or die before government action is taken?
It’s time to consider proper enforcement of legislation and have a royal commission into real estate practices.
Why is this important?
A Royal Commission into Real Estate Practices in Australia is of utmost importance due to the widespread neglect and non-enforcement of regulations in the sector, that has had severe consequences for employees, tenants, and the consumer.
Because the real estate sector has been allowed to be “self-regulated” by the government, with no full audits or investigations carried out for years, this has led to a culture of systemic misconduct and non-compliance within the industry that the industry considers to be “normal”.
The lack of supervision of work health and safety practices by licensees in charge, has led to a culture of bullying, sexual assaults, mental health issues and a high suicide rate for real estate employees. Furthermore, in 2014 the Victorian coroner’s office declared that the real estate sector was a ‘high risk’ industry with the ABS concluding in 2016 the annual employee turnover rate in real estate was 10% higher than the national average.
Because of this, many agents are not up to date with current real estate laws and practices with 1 in 5 agents not meeting their yearly education requirements - creating a culture of misleading practices - becoming “a buyers beware market”.
The following issues have become commonplace in the Australian Real Estate Sector;
- the non-disclosure of material facts,
- persistent neglect of work health and safety practices
- not carrying out regular condition reports and maintenance requests
- false advertising, underquoting and two-tier marketing
- appraising homes not based on the true value of the home/land but on “market conditions” and “buyer interest”
- the lack of care towards the security of consumers' personal information and meeting cyber security requirements to protect consumer data for their business
- creating a "culture of fear," for tenants as they face - rental bidding loopholes, discrimination, unsafe living conditions and lack of rental security.
All these issues demand urgent attention through a comprehensive Royal Commission to reform the Australian real estate sector, uncovering the patterns of deceitful conduct and evaluating the regulatory effectiveness of the industry.
Ultimately, a royal commission can play a crucial role in preventing future misconduct and improving industry accountability to create a more ethical and consumer-focused real estate sector - which can lead to the legislative changes and reform required in order to protect consumers, workers and tenants.
Only a royal commission into real estate practices can create a fair and transparent marketplace thus restoring the confidence in the Australian real estate industry.
Because the real estate sector has been allowed to be “self-regulated” by the government, with no full audits or investigations carried out for years, this has led to a culture of systemic misconduct and non-compliance within the industry that the industry considers to be “normal”.
The lack of supervision of work health and safety practices by licensees in charge, has led to a culture of bullying, sexual assaults, mental health issues and a high suicide rate for real estate employees. Furthermore, in 2014 the Victorian coroner’s office declared that the real estate sector was a ‘high risk’ industry with the ABS concluding in 2016 the annual employee turnover rate in real estate was 10% higher than the national average.
Because of this, many agents are not up to date with current real estate laws and practices with 1 in 5 agents not meeting their yearly education requirements - creating a culture of misleading practices - becoming “a buyers beware market”.
The following issues have become commonplace in the Australian Real Estate Sector;
- the non-disclosure of material facts,
- persistent neglect of work health and safety practices
- not carrying out regular condition reports and maintenance requests
- false advertising, underquoting and two-tier marketing
- appraising homes not based on the true value of the home/land but on “market conditions” and “buyer interest”
- the lack of care towards the security of consumers' personal information and meeting cyber security requirements to protect consumer data for their business
- creating a "culture of fear," for tenants as they face - rental bidding loopholes, discrimination, unsafe living conditions and lack of rental security.
All these issues demand urgent attention through a comprehensive Royal Commission to reform the Australian real estate sector, uncovering the patterns of deceitful conduct and evaluating the regulatory effectiveness of the industry.
Ultimately, a royal commission can play a crucial role in preventing future misconduct and improving industry accountability to create a more ethical and consumer-focused real estate sector - which can lead to the legislative changes and reform required in order to protect consumers, workers and tenants.
Only a royal commission into real estate practices can create a fair and transparent marketplace thus restoring the confidence in the Australian real estate industry.
How it will be delivered
The petition will be delivered by email and posted to Minister for Better Regulation and Fair Trading and if we get no response, we will deliver it in person to their office or The Parliament of New South Wales.
Furthermore, if no action is taken by the Minister for Better Regulation and Fair Trading, this will be presented to the Prime Minister of Australia.