5 Sep 2008

Law regulating real estate agents passed

6:09 am on 5 September 2008

Real estate agents will be regulated by the Government after Parliament passed a law to reform the industry.

The Real Estate Agents Bill passed by 65 votes to 53 in Parliament on Thursday.

It sets up a disciplinary body which can strike-off rogue agents, and provides for consumer redress, including compensation of up to $100,000.

Associate Minister of Justice Clayton Cosgrove says the new law will promote public confidence in the industry.

He says for the first time, consumers will get a fair go if they feel they've been ripped off.