Possible word of caution to private buyers

Dec 19th, 2011

New Zealand now has the Real Estate Agents Act 2008,  for want of a better term, its there to protect consumers,  and to a more major part, buyers of NZ real estate.

Disclaimer appearing on Private Sale online advertisement

Which just makes the disclaimer on some private sale advertisements all the more difficult to comprehend.

Why would anyone want to opt out, or point out that the ACT doesn’t apply?

What’s a bit sad is that some time back many, if not most of the private adds, actually did carry such a disclaimer. That seems to have fallen by the wayside of late.

Most agency agreements now contain information that details disclosure from the agent.

Importantly now, most agency agreements also feature a seller disclosure, for the obvious reasons.

The REAA makes it very clear on the obligations of a licensee in its “Professional Conduct and Client Care” booklet (you can read or download a copy here)

Clause 6.6 is very important indeed.

A licensee would not be following the law if they ignored the weight of this point, let alone any associated moral obligations.

So again, it makes me curious why someone would insert such a disclaimer?

Any reader like to enlighten me on this one?