Queensland's impending property reforms may make it easier to buy and sell Caboolture real estate.
In late November, the Property Occupations Bill and Agents Financial Administration Bill were tabled in Parliament following 12 months of state, government and industry collaboration.
One of the key policy objectives of this landmark legislation is to reduce the red tape currently regulating the property industry and simplify the process of buying and selling a home.
There are various amendments proposed that will make it easier to snap up houses for sale in Caboolture or sell them.
These changes include increasing the statutory limits of appointments for an exclusive or sole agency from 60 to 90 days.
There will be deregulation of maximum commissions owed and the removal of a separate Warning Statement. Instead, this statement will be included in the relevant contract of sale.
A stricter disclosure regime of third party benefits to buyers is proposed, too. Finally, agents will no longer be required to disclose to buyers the commission they receive from the seller.
According to the Real Estate Institute of Queensland (REIQ) CEO Anton Kardash, the Property Occupations Bill suggests better conditions for both agents and consumers.
The REIQ was a key part of the process, providing input and feedback during the collaboration period.
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