The Property Agents and Land Transaction Act 2016 regulates the real estate industry in Tasmania.
Under the Act 'property agent' refers to a:
- real estate agent
- property manager
- general auctioneer
- assistant property manager
- property consultant.
- sets out the responsibility of the Property Agents Board (the board) to maintain a register of property agents to ensure that only people who have the appropriate prerequisites and qualifications act as property agents within Tasmania;
- requires the registration of real estate agents, property managers and auctioneers, subject to competency based qualifications;
- requires people employed as property consultants to have the prescribed qualifications and to advertise their intention to work as a property consultant;
- allows real estate agents to enter into multi-disciplinary partnerships;
- allows an owner of real estate to auction his or her own property;
- establishes the Property Agents Board that has equal membership of industry and non-industry representatives and an independent Chair;
- provides clear complaint, investigation and enforcement processes to guide the Board;
- establishes a Tribunal which will deal with serious complaints and disciplinary matters; and
- addresses issues such as false advertising and vendor bidding.