Queensland’s new real estate law came into effect on 1 December 2014, and with it some significant changes, what they mean to you as property investors.

ljgrealestate

Queensland’s new real estate law came into effect on 1 December 2014, and with it some significant changes. Despina Priala explains what they are, and what they mean to you as property investors.

Queensland has embarked on a new era for property and contracts. On 1 December 2014 the new Property Occupations Act (POA) came into play, making some dramatic changes. These changes are expected to reform and streamline the way contracts are formed, and will simplifythe inevitable procedures that always  accompany the formation of contracts.

The changes also mark a new era for real estate agents with the removal of  the cap on commissions, and they’re no longer obliged to disclose to buyers their agreed commissions. It has been more than 10 years since the last reforms in Queensland.

The Property Occupations Act

Selling property generally

The main changes are:

1. PAMD Form 30C and the BCCM Form 14…

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