Taken from REIWA Member News
[REIWA's] advocacy work has seen progress on the issue of early commission payments for off-the-plan sales transactions.
In May 2015, [REIWA] lodged a submission with the Department of Commerce proposing changes to the REBA Act to allow early payment of commissions for these transactions.
[REIWA] are pleased to advise [they] have made significant progress.
The Acting Commissioner has informed [REIWA] that he agrees with the submission’s proposal. He is now in the process of seeking approval to draft a Bill to make the required amendments to allow early payment of commissions under the REBA Act.
[REIWA stress not to] change your business practices. This is a work in progress and [they] will keep [us] updated as to when the Bill may be presented to Parliament and the timing for any changes to the Act.
Saraceni Real Estate would like to thank REIWA for their great work.