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Australia’s real estate bodies have banded together to urge the Fair Work Commission to vary the Real Estate Industry Award 2020 in their fight to keep as many real estate salespeople employed as possible.
In response to the COVID-19 pandemic, the REIA, on behalf of the state and territory Real Estate Institutes, has issued a submission to the Fair Work Commission to vary the Real Estate Industry Award 2020.
“Currently, the award requires that an agent make at least $54.5k p.a. — the Minimum Income Threshold Amount (MITA) — for the previous three years before they can be employed on a commission-only basis,” said Adrian Kelly, president of the Real Estate Institute of Australia (REIA).
“REIA has requested that the commission agree to a halving of the MITA in the current circumstances to keep as many of these agents employed as possible.
“If this isn’t agreed to, with the certainty of decreased sales activity, these agents are at risk of being stood down as agencies struggle to stay open as long as they can.”
Mr Kelly went on to highlight that feedback it has had from its member state and territory Real Estate Institutes “suggests that these agents would prefer to have the opportunity to continue to work”.
Mr Kelly concluded: “In response to this situation, REIA proposes that the current MITA provisions of the award be changed to 50 per cent of those currently in place for the duration of the coronavirus crisis.
“This is an approach that encapsulates the spirit and intent of the government’s initiatives of sharing the burden.”
ABOUT THE AUTHOR
Emma Ryan
Emma Ryan is the deputy head of editorial at Momentum Media.
Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.
Email Emma on: Emma.Ryan@momentummedia.
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