REIA calls for agent selection services funding transparency

April 17th,2018

Real estate agent selection agencies should be treated the same as financial advisers and directly renumerated by the vendor, according to the Real Estate Institute of Australia (REIA).

In a submission to the Royal Commission into Misconduct in the Banking Industry REIA President Malcolm Gunning said there has been a proliferation of businesses established to assist vendors selling their homes by choosing an agent for them.

“These businesses portray themselves as an impartial consumer advocate offering a free service to choose the most suitable agent for marketing their property,” Mr Gunning said.