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Less red tape for commercial property sector

Paperwork reduced to help boost commerical sales.

Changes in Victoria could mean less red tape for sellers and buyers of commercial property.

The Age reports 36 reforms to the industry have been introduced to encourage a more flexible market.

Under the changes, commercial property professionals will not need to hold a real estate agent’s licence to negotiate sales and rents.

"Currently agents involved in large commercial property transactions are required to hold a licence under the Estate Agents Act 1980. This reform will remove that requirement," explained deputy premier Peter Ryan and treasurer Michael O'Brien.

The new policies will only apply in Victoria for the foreseeable future but will be introduced before the end of the year.

Other reforms planned include allowing builders and plumbers to construct metal roofs, as well as increasing the maximum average height for walls near a boundary that do not require a council permit.

There have been a number of moves in recent months to reduce the paperwork involved in buying and selling real estate in Australia, including the introduction of e-documents for registering property purchases.

Posted by Craig Francis.

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