3 Jul 2009

Further regulation unlikely for real estate agents

6:15 am on 3 July 2009

Real estate agents are unlikely to be subject to further regulation.

A review by the Ministry of Justice has concluded an occupation should be regulated only when it's necessary to reduce the risk of significant harm and the industry or market is unable to regulate itself.

It says property managers are already subject to a wide range of obligations under the law, which can be enforced through disputes tribunals and the courts.