Real Estate - Managing Compliance Requirements
An effective compliance program is an important aspect of an estate agency’s overall risk management framework and integral to the estate agency’s business strategy and the achievement of its financial
and business objectives.
This course outlines the estate agency regulatory landscape in Victoria and discusses the key principles, elements, approaches, tools and techniques of an effective compliance framework within the context of meeting the estate agency’s legal obligations. It highlights the importance of ensuring oversight of practices, managing and monitoring the compliance program.
Overview of key legislation, standards and guidelines including:
- Estate Agent Act 1980 and associated regulations
- Residential Tenancies Act 1997
- Sale of Land Act 1962 and associated regulations
- Australian Consumer Law and Fair Trading Act
- Foreign Acquisitions and Takeovers Act 1975
- REIV Code of Practice
Stakeholders that occupy the real estate sector regulatory space and how they influence estate agent behavior
Compliance responsibilities of directors and management
- Conformance vs performance
- Compliance policy
Key elements of an effective compliance framework
- Governance and culture
- Monitoring and reporting
- Compliance risk assessment
Tools and techniques for an effective compliance framework
Effective reporting of risk and compliance
- Provision of timely information
- Dynamic reporting
- Understanding the regulatory space that estate agents operate within
- Consider essential regulatory requirements, compliance standards and guidelines
- Gain practical information on compliance monitoring to uncover regulatory and/or ethical breaches
- Gain a practical understanding of how compliance fits into an organisation – especially alignment with key business objectives, and how compliance processes can reinforce and positively strengthen organisational culture.
This course is delivered over 1 day.
Senior managers, branch managers, directors, officer in effective controls, sole proprietors.
Diana Bevacqua has an extensive regulatory background, having completed a Masters in Regulatory Studies and worked in regulation for over 15 years.
Drawing on her 10 years experience with Consumer Affairs Victoria she works closely with estate agents on their business operations and processes to establish best practice.
Passionate about regulation Diana loves talking with estate agents to understand what problems they are confronted with and works closely with them to demystify the regulatory obligations and find practical solutions that are easy to sustain.