LAND AGENTS ACT.

Ashburton Guardian, Volume 54, Issue 17, 31 October 1933, Page 7

LAND AGENTS ACT.

PROPOSED AMENDMENT. CRITICISM VOICED. (Special to the " Guardian.") MARTON, October 26. Interviewed to-day, Mr A. J. B. Sicely, president of the Wanganui District Branch of the Real Estate Institute, expressed the opinion that "the 1 unreasonableness" of the proposed amendment to the Land Agents' Act, to be introduced by the Hon. R. McCallum, would prevent it reaching the Statute Book. The institute was only in its infancy, and had done, much to elevate the calling to ensure that members carried on their business in accordance with the principles laid down, he said. The Bill, if passed, would sound the deathjknell of the institute. "Land agents throughout the country have experienced exceedingly lean times latterly, and many are on the verge k of bankruptcy," said Mr Sicely. "The Bill aims at restricting the freedom of contract between the principal and agent, and' further, it savours of class legislation,. as the business offered by the poorer classes, whose equity in property is small, will be entirely , neglected, as unprofitable, in favour of wealthier property owners who have little or no mortgage on their properties. Moreover, the principle of charging commission on the total value of property sold is on a par with the Government's basis of assessing stamp duty on transfers, a/id,with that of solicitors in charging scale fees for transfers of property on full purchases price. In short, real estate agents . would find it impossible to make a living on the commission allowed by the proposed amendment."