Real Estate Institute of New Zealand
The Real Estate Institute of New Zealand (REINZ) was established under legislation to regulate the real estate industry in New Zealand. It also operates a website listing properties for sale in New Zealand.
Lobbying Media Proprietors
In June 2008 the Associate Justice Minister, Clayton Cosgrove, alleged that REINZ had warned New Zealand media proprietors to provide more positive media covareg of the real estate market or risk the loss of millions of dollars of advertising. Cosgrove said that he had received a letter from a real estate agent concerned about the meeting. "Threats were made to pull advertising, as the letter says, if favourable coverage was not given," Cosgrove said. "Now that is silly, it is intimidation and it is bullying and yet another reason why we need to protect the consumer." REINZ confirmed that a meeting had occurred and that the proprietors had been asked to provide more positive coverage but denied that threats to pull advertising had been made. Fairfax New Zealand also confirmed the meeting but also denied being threatened.
Articles and Resources
- Audrey Young , "REINZ 'like mafia', house seller tells MPs", New Zealand Herald, March 14, 2008.
- "Claims of real estate heavying", TVNZ, June 12, 2008.
- "Real estate industry draws Govt's ire", Otago Daily Times, June 12, 2008.
- Tracy Watkins, "Media denies alleged pressure over property reports", Dominion Post, June 12, 2008.
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