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REAA - The Update
  February 2014
A belated Happy New Year and welcome to our first newsletter of 2014. As always, the beginning of the year brings bulk renewals as the majority of licences need to be renewed by 31 March 2014. If this affects you, you will receive an email 6 weeks prior to this date and a further text and email reminder if we have not received your application by 17 March. We suggest that you check the public register or your evidence of licence just to confirm when your licence expires. You can download a licence renewal application form from our website.

Our two approved guides are undergoing a makeover and will shortly look a bit different - the content is the same but we have updated the design to make them consistent with our website. If you purchase the guides from us, there will be a bit of crossover between the old and the new for a few months while old stock is used up. You can also download the approved guides from our website.

It is a big newsletter this month - it has been three months since our last newsletter so we have a lot to tell you. So please take the time to have a read as there is important information that you need to know.

Finally, don't forget that we are now on Twitter and LinkedIn. On Twitter follow @REAANZ and you can find us on LinkedIn by looking for REAA (under companies and in New Zealand) - or just click on the icons to the right.
Kevin Lampen-Smith Kevin Lampen-Smith

Kevin Lampen-Smith
Chief Executive/Registrar



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  Unsubstantiated representations - what you need to know
All licensees need to know about the changes to the Fair Trading Act, which come into effect on 18 June 2014, as they affect you and the way you sell property.

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  We are making some changes to the way we manage complaints
The complaint facilitation trial we began last November has gone well and facilitation will now become a permanent part of the way we deal with complaints.

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  Your obligations when making marketing decisions
Given what is happening between Trade Me and the industry right now it is timely to remind licensees of what their obligations are when making marketing decisions.

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  The legal battleground - disclosure obligations
The second in our series on the legal battlegrounds facing the Authority and the industry looks at licensee disclosure obligations.

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  Money laundering and real estate - part 2
Real estate has suddenly become an easier and more attractive target for money launderers to 'wash' criminal funds - with the unwitting help of licensees. This second article from AMLassurance.com outlines some practical ways to reduce the hidden risks to your reputation and livelihood.

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  Marketing best practice
In a recent appeal decision the High Court has signalled concerns about the way in which licensees market properties.

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  Unit title disclosure requirements
It appears that some licensees are not familiar with the disclosure requirements for buying and selling unit title properties and are putting themselves, their clients and potential purchasers at risk.

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  Continuing education requirements if you plan to retire or leave the industry
in 2015

If you wish to work after 31 December 2014 you will need to complete the 2014 continuing education requirements, by 31 December 2014.
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  Please do not reply to this newsletter. If you wish to contact us please call us on 0800 for REAA (0800 367 7322) or 04 471 8930 or email us at info@reaa.govt.nz