In 2025, significant changes are set to impact commercial property sales in Queensland, with a new seller disclosure regime being introduced. This regime will revolutionize disclosure requirements, contract essentials, and preparation protocols, emphasizing the importance of accurate and thorough disclosures to avoid potential contract terminations, loss of commission, or legal and financial risks.

Applicable to both residential and commercial property transactions in Queensland, the new regime mandates that sellers provide a disclosure statement and prescribed certificates to prospective buyers before the signing of a sale contract. These disclosure documents must adhere to specific preparation guidelines, content requirements, and delivery methods outlined by the legislation. Real estate professionals in Queensland are authorized to handle the preparation and exchange of these documents on behalf of their clients, the sellers, with some exceptions applying to certain property transactions.

Buyers will have the right to terminate a sale contract before settlement if the disclosure documents are inadequately provided, contain errors or omissions regarding material matters unknown to the buyer, and would have influenced their decision to enter the contract. To stay informed about these changes, individuals can attend the Law Reforms Roadshow events organized by the Real Estate Institute of Queensland (REIQ) or access their recorded webinars for detailed insights into the seller disclosure regime.

For REIQ members seeking further guidance on navigating the new disclosure requirements, a dedicated toolkit is available. This toolkit offers valuable resources and information to ensure compliance with the updated regulations. By staying informed and proactive in understanding the implications of the seller disclosure regime, real estate professionals can navigate these changes effectively and protect their interests in commercial property transactions.

As the real estate landscape evolves with regulatory reforms like the seller disclosure regime, industry professionals must stay abreast of these developments to uphold transparency, professionalism, and legal compliance in their dealings. The REIQ serves as a pivotal resource for real estate professionals, offering training programs, industry insights, and support services to empower individuals in the dynamic real estate sector. By engaging with industry updates, training opportunities, and best practices, professionals can enhance their skills, knowledge, and ethical conduct, contributing to a robust and trustworthy real estate market in Queensland.

In a market where confidentiality, accuracy, and compliance are paramount, staying informed and proactive is key to success. The REIQ’s commitment to providing valuable resources, training, and support underscores its role as a trusted authority in the real estate profession, ensuring that industry practitioners are equipped to navigate regulatory changes, protect client interests, and uphold the highest standards of professionalism and integrity.