The Hypocrisy Of Real Estate Institutes

Posted on April 30, 2007 by | 0 Comments

Few things in real estate are more obviously hypocritical than real estate institutes painting themselves as consumer heroes.

In several states, real estate institutes have recently attacked state governments over stamp duty.

An article from the Jenman website.

The latest to crusade against a state government is the Real Estate Institute of Victoria, with chief executive officer Enzo Raimondo leading the charge. (It’s hard to imagine anyone who cares less about consumers than Raimondo).

The REIV “demanded sweeping cuts to stamp duty” after the Victoria Government announced a taxation windfall. The real estate institutes of Western Australia and South Australia did likewise recently.

The REIV points out that the State Government’s tax take has more than doubled in the past six years, fuelled by stamp duty based on rising real estate values.

As with all the institutes pretending to adopt this noble cause, they have avoided mentioning something else that’s more than doubled in recent years: real estate commissions.

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