Regulatory authorities and industry bodies

Question 1

Regulation of the industry

Answer 1

• There are laws because we hold trust money
• Keys to access the property
• Hold personal information
• Guide consumers through complex situations
• Give advice on big things

Question 2

Regulatory authorities

Answer 2

• Queensland fair trading
• Residential tenancies authority
• Office for the commissioner of body corporate
• Office of the Australian information commissioner
• Fair work commission

Question 3

Queensland fair trading

Answer 3

• Property occupations act
• Agents financial administration act
• Issue license
• Issue certificate
• Forms to appoint yourself as an agent (form 6)
• Property occupations forms
• Acting on complaints
• Receiving agents trust account audit reports
• Investigate and issue fines

Question 4

Residential tenancies authority

Answer 4

• The regulatory authority that administers the ‘residential tenancies and rooming accommodation act’
• Answering questions about landlord and Tennant relationship
• Proving forms
• Mediation for disputes
• Holding bond money

Question 5

Office for the commissioner of body corporate

Answer 5

• Body corporate and community management act

- Provide conciliation and mediation between lot owners, lot occupiers and body corporate

Question 6

Office of the Australian information commissioner

Answer 6

• Privacy act
• Acting on complaints and breaches on the privacy act
• Providing online forms
• Reviewing freedom of information decisions

Question 7

Fair work commission

Answer 7

• Provide information about the real estate industry award

- Protect minimum wages

Question 8

Examples of other regulatory authorities

Answer 8

• the anti-discrimination commission Queensland
• The Queensland building and construction commission
• Workplace health and safety Queensland
• The foreign investment review board

Question 9

Industry bodies (non-government)

Answer 9

-REIQ

Question 10

Real estate institute of Queensland

Answer 10

-REIQ is a membership body of real estate agents

Question 11

Real estate employer’s association

Answer 11

• Another form of an industry body
• Unfair dismissal claims
• Wage and commission disputes under the real estate industry award
• Employment questions
• Fair work legislation

Question 12

Agents financial administration act

Answer 12

-The administration of trust accounts held by agents to establish a claim fund to compensate people in a particular circumstance for financial loss from dealing with agents

Question 13

Residential tenancies and rooming accommodation act

Answer 13

-Residential tenancy agreements, rooming accommodation agreements and other related matters

Question 14

Another example of an industry body

Answer 14

-Real estate employers association