Declaration Introduction Rushed

Published: 19 November 2009.

Artcile courtesy of REIQ

The Real Estate Institute of Queensland (REIQ) believes there should be much more public education before the new sustainability declaration becomes mandatory.

The sustainability declaration, rushed through parliament last night, is due to be implemented on 1 January 2010, but as yet there has been no wide-spread public awareness campaign about it.

“The declaration – which will impact tens of thousands of Queenslanders every year - is going to have a dramatic impact on the selling process and passing it into law just weeks before it is implemented does not give sellers enough time to become adequately informed,” REIQ managing director Dan Molloy said.

“From 1 January 2010, sellers will be unable to market their property for sale until this form is completed and made available to buyers.

“An agent will be unable to market a property for sale until this form is provided to them by the seller.
“The declaration will be a major headache and expense for absentee owners as they may need to engage a consultant to complete it on their behalf.

“No doubt a new industry of sustainability specialists will be created so yet another piece of paperwork can be completed before a property can be sold.”

The declaration will summarise the energy, water, safety and access features of a house, unit or townhouse for prospective buyers and must be completed by a seller or third party prior to marketing the property for sale.
If the declaration is not completed, or made available to buyers, there are substantial fines for both the sellers and agents involved even though the information gathered will never be collated or analysed in any way by government.
The REIQ’s position is that its members will not complete the declaration on a seller’s behalf as they are not in a position to assess sustainability features such as energy and water efficiency. The obligation for completion rests with the seller of the property.

“The REIQ is very disappointed that – unlike other major pieces of legislation affecting the real estate profession - we did not see the Bill before it was introduced nor were we consulted on the final version of the declaration before it was released.”

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