The reference arose from a desire, expressed by peak bodies involved in the real estate profession as well as legal practitioners, that the activities of people working within the real estate industry be regulated by statute. The project was given priority by the Attorney General and was transferred to the Commission upon its inception in 1973.
Terms of Reference
In 1972 the Committee was asked to review the Land Agents Act 1921 (WA) and report on amendments required to effectively exercise control over land transactions and whether provisions of the Act should be extended to cover other sales by agents or developers. In particular, the Committee was asked to consider:
-
the system of licensing;
-
the need for provision for renewal of licenses which have lapsed through unforeseen circumstances;
-
the need for further control over agents, as in New South Wales;
-
the need to restrain agents from arranging sales which may be impossible to complete, as where such a sale is induced by the agent’s misrepresentation as to the availability of finance;
-
the need for improved auditing requirements;
-
the need for control over salespeople employed by developers; and
-
the need for control over the activities of land settlement agencies.
Outcomes
The Real Estate and Business Agents Act 1978 (WA) gave effect to the majority of the Commission’s recommendations.
