A new regulator for real estate has come into existence which would have licensing authority for reality agents besides some regulatory powers.The watchdog, dubbed as the Real Estate Agents' Authority, was launched today by Associate Justice Minister Nathan Guy for the convenience of general public and real estate industry.

Mr. Guy said, "This independent body will provide reassurance to the public and clear standards of performance for industry members. I believe this clear regulation will be hugely beneficial to the
profession."

Public can now check the license of agents and can roll out disciplinary action as empowered by the authority. The authority, chaired by Kristy McDonald QC, has been empowered under the Real Estate Agents' Disciplinary Tribunal which provides a very transparent way for processing complaints.