Business man's hand cutting Red tape with scissors

Red tape. Red tape. Red tape.

These words seem to be on everyone’s lips at the moment. In the lead up to the State election, both sides of politics have been making promises to reduce red tape associated with real estate transactions.  Meanwhile, a few weeks ago, the REIQ met with the recently appointed Queensland Business Commissioner.  If you have not already heard the Queensland Business Commissioner’s role is to reduce the burden of red tape on small and medium businesses.

The signs are all good but what is needed now is action.

The REIQ has long been lobbying for the reduction and simplification of the paperwork associated with real estate transactions.  Rather than having separate bits of paper required under different legislation, why not have one document covering all the disclosures and warnings that purchasers must be given at the time they enter into a contract?  Seems logical and dare I say it, simple too.

The REIQ has been asked to provide feedback and comments to the State Government on its plan to simplify real estate related paperwork.   We are excited by the prospect of bringing about changes to improve efficiency and reduce tedious administration connected with real estate transactions.

The winds of change appear to finally be picking up speed.  Stay tuned for more on the ongoing battle against the dreaded red tape.

 

By Antonia Mercorella, Executive Manager Policy and Legal, REIQ