What does REIWA do?
What does REIWA do?
REIWA's main objectives are to create the best possible business environment for real estate practitioners, and to promote professionalism, ethical behaviour and integrity within the industry.
The Institute deals with government at all levels; promotes ethical operating standards to make business dealings easier; fosters a professional public profile for practitioners; and provides a number of valuable services and professional development training courses for real estate practitioners. Responsibilities include:-
Government Liaison
REIWA promotes the interests of the WA real estate industry to State, local and Federal governments, and is "the public voice" of the real estate sector. The Institute also keeps members advised of new legislative developments which affect the real estate industry, its practitioners and its clients.
Conversely, Government seeks REIWA's advice and input on all legislative matters affecting the real estate industry.
Business Structures
Thanks to a number of REIWA initiatives, operating structures have been streamlined and have improved considerably over the years.
The Institute has developed a form of Offer and Acceptance with an accompanying Joint Form of General Conditions resulting in the simplest form of real estate contract in Australia.
REIWA also plays a major role in establishing and maintaining professional indemnity insurance structures specifically tailored to fit the real estate industry's requirements. This enables agents to conduct their business without the constant fear of litigation.
The Institute developed a formal arbitration service in accordance with the Commercial Arbitration Act, thus eliminating the expense and adverse publicity often associated with formal litigation.
Other achievements have included the introduction of standardised documentation in all areas of real estate practice and the development of practising standards for WA agents which provide a structured basis for the conduct of business between agents.