Bindi Norwell: Strict rules protect sellers from ‘flipping’ danger

  • Given the sale or purchase of a property is the largest and most important transaction most of us ever undertake, it’s not surprising that events in the property market attract so much attention. Some issues, like the controversy around “flipping” houses for quick gain seem to draw more heat than light.

We at the Real Estate Institute of New Zealand (REINZ) are in a unique position to provide some perspective. We have more than 15,000 agency members making up around 97 per cent of the industry in New Zealand.

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Bindi Norwell is chief executive of the Real Estate Institute.