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How Much Real Estate Regulation Is Right For New Zealand

  How much regulation is required to protect NZ property buyers and sellers?    The amount of regulation needed to protect property buyers and sellers varies from country to country. In some countries, there is little to no regulation in place, while in others, there are stringent regulations in place. Generally speaking, the more regulation that is in place, the more protection buyers and sellers have. Some of the key regulations that buyers and sellers can expect to see include: - Disclosure laws: These laws require that sellers disclose any information they know about the property they are selling. This can include information about past repairs or damage, as well as any zoning or building restrictions that may apply. - Property inspections: In order to ensure that a property is safe and in good condition, most jurisdictions require that it be inspected by a professional before it is sold. This may include checking for termites, leaks, and other damage. - Laws concerni...

The REA & REINZ

  The REA & REINZ Who Are They; What Sets Them Apart;  & Why Is It So Important? Up until twelve years ago these questions would have been meaningless, because until the passage of the Real Estate Agents Act 2008, there was only REINZ to contend with and it had been that way for decades. You wanted to obtain a real estate license, you called REINZ. You had a complaint with another real estate agent, you called REINZ. You needed current sales data, yes, you called REINZ. Sounds nice and neat, but there were problems. For one, unlike most other English speaking countries, New Zealand agents historically only served the vendor/seller. This left the buyer dealing with a system that was clearly biased against them and with an influx of new Kiwis from the U.S.; Canada; Australia; and the U.K., questions were raised and soon the politicians heard the commotion. After reviewing the local and international models, the uniquely Kiwi Real Estate Agents Act 2008 passed through par...