You might think that as the value of a property sale increased, more scrutiny should apply to the agents handling that sale, but this may not be the case in Victoria for long. The Real Estate Institute in Victoria says the State Government’s proposal to remove agent licensing for large commercial transactions is illogical and ill-thought out.
The proposal is part of a raft of measures designed to reduce red tape, but the REIV says the move would greatly increase consumer risk and lower standards, creating a messy, two-tiered licensing system because agents dealing in commercial transactions below a certain amount will be licensed, while others won’t.
Remaining in Victoria, the Premier is feeling bullish about jobs on the back of a new strategic plan. Victorian Premier Denis Napthine says the final release of the scheme known as Plan Melbourne will deliver more jobs, more transport choices, more homes and more lifestyle opportunities.
Plan Melbourne has been designed to provide a city shaping strategy for the capital through to 2050. The Victorian government says the plan will help unlock land within existing urban areas, and includes commitments to major transport projects.