REIQ reassures members following REIV forms issue

REIQ reassures members following REIV forms issue

Real estate agents in Victoria are waiting to find out if their commissions have been jeopardised following the Victorian Court of Appeal’s decision to uphold a ruling whereby a real estate agent lost commission as a result of using a non-compliant  appointment form.

The Exclusive Sales Authority form is the Victorian equivalent of the Queensland Form 6 and appears to have been prepared and published by REIV.

At issue is the wording around the rebate statement  required in the appointment form which is prescribed by legislation.

The matter is not yet resolved as a further appeal may still be lodged in the High Court.

The REIQ has understandably received enquiries about the risk and safety of our forms, in particular the Form 6, and has moved to reassure members that the situation differs significantly in Queensland.

REIQ CEO Antonia Mercorella said that in Queensland the Form 6 Appointment Form is prepared by the Government and reminded members that this part of the profession is governed by state-based legislation.

“Our Form 6 is a prescribed form which is prepared and published by the Office of Fair Trading.  The REIQ did not prepare this form and, as a prescribed form, it cannot be altered,” she said.

“Although REIQ does prepare and publish schedules to accompany the Queensland prescribed Form 6 Appointment Form, we take a conservative approach with these schedules and ensure, as a bare minimum, that they meet legislative requirements,” she said.

“In addition, we also have our external legal consultants review these schedules prior to publication to mitigate any potential risk.”

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