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Business View Australia - September 2015 27

see the Parliamentary inquiry

recommend a greater focus on

compliance and enforcement. On

a broader level, REIA says that

Australia has a regulated approach

to foreign investment in property

as opposed to the open-door

approach of countries like the USA.

Amanda Lynch says, “The objective of

Australia’s foreign investment policy,

as it applies to residential property, is

to increase the supply of new housing.

And it has been proven to do this.”

Another important role played by

REIA is that it represents the interests

of thousands of small businesses

across the country as 99% of real

estate agencies are small businesses

and 11% of all small businesses

in the country are involved in real

estate. Although these agencies are

members of the Real Estate Institutes

located in their State or Territory, they

are indirectly represented by REIA

which is in a strong position to put

across their views at various forums.

REIAplaysacrucial role inthecountry’s

property market by providing data and

inputstogovernmentandpolicymakers.

It is in a unique position to collate the

views of Real Estate Institutes at the

state and territory level and present

them in a balanced manner. It also

uses its expertise to address issues

confronting the sector so that the

long term interests of the real estate

market in the country are protected.

REAL ESTATE