There has been a lot of positive momentum on the REINZ Advocacy front recently. Advocacy is a long game. Advocacy is about helping shape government policy and law reform that impacts you. It’s about ensuring you are represented at the table where decisions are made that impact you and your ability to do your job effectively.
Advocacy also helps ensure your important role as real estate professionals is recognised and valued.
REINZ's Three-Year Advocacy Strategy
Our Advocacy work is guided by our three-year strategy (FY27-29). We focus on areas that have the most impact for members, including;
- Maintaining strong momentum in the areas that matter most to members:
- Building and maintaining trusted relationships with Ministers and government departments.
- Continuing to advocate for practical, proportionate AML reform on behalf of the real estate profession.
- Progressing a light-touch regulatory regime for residential property managers.
- Amplifying REINZ’s voice
To keep members better informed about the work REINZ is doing on their behalf, we are placing greater emphasis on:
- Sharing timely, accessible information and commentary on REINZ Advocacy and issues affecting the real estate profession, including through media engagement.
- Building our communications and engagement approach, to help ensure we communicate clear, consistent information about REINZ’s activities and priorities.
- Election year Advocacy
With the General Election coming up on 7 November, this is a critical year for engagement:
- Continuing to work constructively with the current Government to progress our Advocacy priorities.
- Strengthening relationships across the political spectrum, reflecting REINZ’s non-partisan approach and long-standing cross-party engagement.
Key Focus Areas
Right-sizing your compliance burden – AML reform – multiple wins
AML reform remains a major Advocacy focus due to the significant compliance burden on members.
In April, we made submissions to the Ministry of Justice on the proposed new AML/CFT levy. We were very clear: REINZ and our members do not support a levy being imposed on the real estate sector. Our members are highly compliant, and they already bear a disproportionately high compliance burden.
The Supervisor/Levy Act takes effect on 1 July 2026. The great news is that our advocacy paid off, and the impact on real estate should be minimal. Higher risk sectors like banking will bear the brunt of the new levy, with levy collection expected to commence in July 2027.
We also made submissions on the Draft Sector Risk Assessment (SRA) for real estate agents to the Department of Internal Affairs. There are several wins –
- We continue to succeed (so far) in ensuring AML compliance is not required for purchasers or prospective purchasers - it would have a massive adverse impact on New Zealand’s property ecosystem, if real estate professionals were required to also conduct Customer Due Diligence on all purchasers/prospective purchasers. This would be hugely problematic for a number of reasons which have been recognised, including the fact that all property transactions would effectively become conditional.
- Due to our advocacy, the risk rating for commercial leasing is reduced from medium to low-medium. We will continue to push for regulatory relief for commercial leasing
- There is express recognition of the real estate sector’s maturity and the strengthening of controls across the sector. The removal of the mandatory requirement to conduct Enhanced Due Diligence for low-risk and simple family trusts took effect on 19 May 2026. This is a change we asked Minister McKee for, and the government has delivered, as part of a host of changes designed to make NZ’s AML/CFT regime more genuinely risk-based, with less red tape for low-risk transactions. We acknowledged the Minister, DIA and MoJ in our media release on 11 May.
Residential Property Management (RPM) Regulation
We have had positive engagement with the Ministry for Housing and Urban Development (HUD) and with Minister Tama Potaka, reiterating the importance of progressing light-touch regulation for residential property managers. We were very pleased when the Government announced its proposed Residential Property Management Regulatory Framework on 24 March.
Election Year Engagement
REINZ is non-partisan. With it being an election year, we are actively progressing our advocacy priorities not only with the current Government, but with all major political parties who will meet with us.
We have Ministers presenting at upcoming REINZ events, including Deputy Prime Minister David Seymour at our C&I Breakfast in Auckland on 10 June, Minister Todd McClay at our Rural Seminar in Hamilton on 1 July, and Minister Mark Patterson and Minister Mike Butterick at our Rural Seminar in Queenstown on 29 June, amongst others.