Mr DEAN ( Windermere ) - Madam President, reference was made to the letter from REIT and I think it should form part of Hansard.

Mr Parkinson - I was going to do that but feel free.

Mr DEAN - I think we all have a copy of it, but just before I do that, when this bill was originally discussed in 2005 I recall that there was a lot of discussion on it and there was comment made particularly in relation to the consultation that occurred at that time. It was identified and suggested by a number of people involved in the real estate industry that consultation had not been as good as it should have been and that had caused concern. On this occasion there have been 30-odd contacts with REIT. They identify that as well, so I commend the Government for the way that it has proceeded with this bill and also the briefing that we were provided with a short time ago. I commend the members for that as well as it certainly explained a number of the issues that I would have raised through a second reading speech. I do not need to do that now, I am satisfied with the way that briefing took place and the answers provided in that forum.

I will read the letter from the Real Estate Institute of Tasmania, dated 16 October 2009, addressed to the honourable members of the Legislative Council, Parliament House:

'Property Agents and Land Transactions Amendment Bill 2009

The Real Estate Institute of Tasmania has been working with the Department of Consumer Affairs and Fair Trading since 2000 to get this legislation to the stage it is. The 2005 Bill had a number of amendments to it and now after four years of operating the Act, a number of changes are required to make it more useable. As it is, Part 10 of 2005 Act was never proclaimed, and it has taken four years to bring that Part to a workable form.

With the help of all parties in the House of Assembly, a couple of further amendments were passed last week and the Institute has now signed off on this Bill.

This is a complex Act, so there will always be some critics. In 2005 the Institute was criticised by some for not consulting widely enough, but during this current process there has been continual and extensive consultation.

The Minister has undertaken to allow further review of the Act in 2010, particularly after the "cooling-off periods" and the "vendor disclosure" sections have been tested.

There is much in these amendments that will overcome problems that the industry has in compliance, while the consumer benefits are manifest.

We urge you most strongly to pass this Bill. If you wish to meet with an industry delegation for further discussion, we would be pleased to meet you.

Yours sincerely,

Peter Bushby

President'.

I think that explains the situation. They are happy with it. I have spoken with a number of agents in relation to it. They raised no issues or concerns, but they were appreciative of the fact that there will be a review in 2010 of certain aspects of this legislation. It is commendable that the Government should accept and support that position. I will be supporting it.