Queensland real estate institute angers North Queensland community
Queensland Real Estate Institute (REIQ) has come under heavy fire from residents and ratepayers of North Queensland, and their own real estate members, for adopting reckless political propaganda from the State government.
“Now the insurance companies have another excuse to increase insurance premiums, another 100% on top of the 600% increase for owners over the past 10 years.” – Former REIQ Member
Pinning reputations with discredited research on climate change, where no evidence of sea level rise or 1 in 500 year flood has been witnessed to back such claims in North Queensland, is viewed by locals as a complete and utter nonsense.
Despite these outrageous doomsday claims, the Queensland real estate institute headquarters in Brisbane issued a press release stating, “These days though, as awareness of climate change and its potential impact increases, home-buyers need to think more broadly when it comes to doing their property homework.”
The full press release is below.
Residents and Ratepayers weigh in to REIQ dystopia
Townsville Residents and Ratepayers spokesperson, Mr Peter Newey said, “This type of decision by the Queensland real estate institute is regretful. A credible agency wouldn’t advocate climate doomsday. It is yet another blow to the value of owning a home in Queensland.”
“What’s more bewildering is the fact a membership-based industry advocacy group would shoot themselves in the foot”, meaning that member agents commissions and incomes will be impacted.
“Encouraging new people to join our community is what we want. Not scaring the living Jesus out of them.”
“Due diligence costs are now too expensive along with taxes and levies. Adding a “sea level rise” search, where no beachside evidence has ever occurred at Horseshoe Bay in 150 years, is just adding more cost in solicitors fees for searches.”
“This policy by the REIQ is ridiculous. It’s just going to kill off retirement savings for our old people, and stop next generation ratepayers entering our community. “Its killing the entire region’s economy,” Mr Newey said.
Climate change research REIQ promotes has been discredited by Great Barrier Reef science expert
Speaking in the below video, Professor Peter Ridd, who was sacked unlawfully by James Cook University, because he dared question the doomsday claims about climate change and the quality of research, agrees with Mr Newey.
Professor Peter Ridd presentation – “Sacked for speaking out about Climate Change.”
Gideon Rozner, Director of Policy at the Institute of Public Affairs, said “It should be noted as well that throughout the extensive disciplinary process against Ridd, James Cook University never once addressed his complaints about the poor quality of climate science coming out of the university, a fact highlighted by the judge himself during Ridd’s case.”
Real estate agents unforgiving of REIQ decline in service quality
Short of calling for the dismissal of the REIQ CEO, a long serving real estate agent in Townsville for over 20 years – who didn’t want to be identified for fear of likely repercussions to his career, said, “The REIQ is a toothless tiger.”
“For 10 years, agents have lost value in the REIQ membership because they are not offering positive service.
“Being a member has become an unnecessary cost,” the agent said.
“Now the insurance companies have another excuse to increase insurance premiums, another 100% on top of the 600% increase for owners over the past 10 years.”
“After the February floods, we were told it was a 1 in 50 year event, then 1 in 100 year event and then a 1 in 500 year event. They were making it up.”
“I remember my father telling me about the massive flood of 1946. Too this day, the height is measured on the depth gauge at the Burdekin River bridge, higher than the last flood this year, and the “night of noah” floods. 1946 wasn’t 100 years ago, but the scaremongers say it is a 1 in 500 year event. Modern Australia and rain gauges didn’t even exist back then.”, the agent commented.
REIQ hypocrisy pervasive corporations and lobby groups
Fooling, deceiving and taking advantage of the “quiet Australian” is no more prevalent than in the banking, insurance and financial planning industry.
The Hyne Royal Commission identified banking fraud extracted $10 billion from home owners savings.
Universities, governments and researchers are causing the same deception in the property market, fraudulently claiming facts and truth, to gain profits and grants.
Professor Carsten Murawski said, “The research from the University of Melbourne found 54 per cent of Australians had been slugged by fraud or misconduct by financial institutions over the past five years.”
“What we didn’t have was an idea of the prevalence of those issues, the severity, across the population,” Professor Murawski said.
The results of the misconduct by the banks may well cost the community even more than the $201 billion estimated by the report.
“Inefficiencies arising from suboptimal allocation of capital and risk might be even more substantial,” the report read.
REIQ press release
REIQ CEO Antonia Mercorella said, “While due diligence has always been of utmost importance for those looking to purchase a new home, once, that simply referred to things like building and pest inspections, utility access and land boundary checks.”
“While ensuring your home is built to withstand the harsh Australian climate has always been important, in today’s world, weather and environmental conditions are being more carefully considered,” said REIQ CEO Antonia Mercorella.
“With the government estimating increases in temperature, drought periods and bushfires, along with rising sea levels over the next few decades, home owners need to research whether or not these risk-factors are relevant to the area in which they’re looking to buy.”
Ms Mercorella suggests researching the history of the area in terms of natural disasters and weather events, and how those impacted homes.
“Has there been any major flooding, fire or severe storms in the surrounding areas? What damage resulted from those events?
“It’s also a good idea to see if there are any restrictions or exclusions on insurance, or higher-than-usual premiums.
“You can also contact the local council to see if they have any information relating to flooding, climate change or other weather conditions that might impact the property, now or in the future.”
With some councils planning to proactively warn residents about potential climate change risks to their properties, those considering selling their home also need to do their research, said Ms Mercorella.
“Vendors need to be aware that buyers will have questions with regards to the possible impact of climate change.
“They may even cite global warming or other weather risks as reason to reduce the sale price of your property.”
Ms Mercorella said when it comes to due diligence relating to climate change and weather, it was important to be alert not alarmed.
“Make sure you receive your information from credible sources.
“Don’t make decisions based on rumours or hearsay.
“But as always, due diligence is crucial when making what will most likely be the biggest purchase of your life.”
Pain and suffering of North Queenslanders raised in Parliament
At the regional sitting of State Parliament this week held in Townsville, David Crisafulli, LNP Member for Broadwster and Former Member for Mundingburra, in response to a statement in Parliament from Minister for Tourism, Kate Jones said, “I’ll tell you about scared. My gym partner whose property value isn’t worth what it was seven years ago when he bought the house.”
The office of REIQ CEO was contacted for comment for this story but couldn’t respond to the claims by Townsville agents and residents, as the CEO was attending a women’s in real estate conference.
Townsville Zone chair of the REIQ, Mr Wayne Nicholson declined to comment.
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