31 Oct 2012

Wider powers wanted by real estate agency

10:55 am on 31 October 2012

The agency responsible for punishing rogue real estate agents wants its powers extended to include property managers.

The Auckland Property Investors Association is in favour of the Real Estate Agents Disciplinary Tribunal's proposal for regulation.

The association says it's seen dozens of cases of what it calls cowboy property managers failing to do their jobs.

It says the cost of regulation will push amateur property managers out of the market, leaving only professional operators.

But Martin Evans from A-1 Property Managers argues it is up to the property owner to make sure they choose a reputable company. He said self regulation is working for the majority of the industry.