Unnecessary regulation of real estate agents when dealing with certain commercial property agency work has been removed. Such work is now exempt from the requirements of the Property, Stock and Business Agents Act 2002.
The exemption applies from 15 August 2016 in the following circumstances:
The provision dealing with this exemption is clause 46A of the Property Stock and Business Agents Regulation 2014 (the Regulation).
For practical assistance to comply with this exemption, agents should refer to our Frequently asked questions – Commercial property agency work exemption.
For an overview of the 2016 amendments to the Regulation, refer to the Property reports and commercial exemption reforms page.