New Zealand Eye Opener

As usual, I spent part of my day reading up on real estate news.  I was simply astounded when I came across this article about how a real estate shake-up in New Zealand is going to strengthen consumer rights.

First, my mouth hit the floor that people won’t apparently even have to FILE a complaint against a real estate agent in order for the agent to be sued. 

After about January 2010, people cheated by an agent may not have to lift a finger. The new crown authority will be able to investigate an agent without a complaint even being laid.

Consumers will also be able to find out far more about agents too. The new law establishes a public register of agents and salespeople to record breaches of industry standards.

What?????  But as I read further, it looks like what New Zealand is doing is to finally implement more educational requirements and ethics guidelines for agents in New Zealand.  I’m grateful that we already have clearly defined ethical guidelines and state laws under which we operate in Tennessee.  To compare,

• There will be big fines if someone is found operating without a real estate license.  Same also holds true for us already.  Operating without a license is a no-no unless you’re selling your own property.
• Employing unlicensed agents.  Again, this law is already in place here.
• Giving false or misleading information.  A no-no here, too.
• Failing to disclose conflict of interest.  Bad Bad Bad.
• Rendering false accounts. Uber bad.

This new law in New Zealand probably is a really good thing.  It’s the golden rule, my friends.  Walk a mile in the shoes you’ve provided for someone else to see if they cause blisters.  If you end up with a raw and bleeding foot, you probably did it wrong.