In January EAC met with NSW Fair Trading and Workcover to discuss the ongoing issue of Loose-Fill Insulation containing Asbestos.
At this meeting a discussion took place regarding the need to clearly outline to agents, property managers and consumers the steps that they need to take regarding Loose-Fill Insulation containing Asbestos in properties. EAC has worked in conjunction with WorkCover in the development of a factsheet regarding Loose-Fill Insulation containing Asbestos.
“Agents and Property Managers cannot be expected to make a qualified assessment of whether asbestos is present in a property,” said Geoff Hunter, EAC Industry Liaison Officer. “That is why this factsheet is so important, to give them clear steps and guidelines on how to deal with Loose-Fill Insulation containing Asbestos, and to make clear their obligation to properly inform property owners of their associated obligations.”
There are a number of obligations imposed on real estate agents by law in relation to Asbestos located in the properties agents are engaged to sell, lease or manage.
These obligations include:
- a duty of care to the client and workers engaged to carry out work on the property.
- a commitment to act honestly, fairly and professionally.
- a responsibility to disclose certain matters to prospective buyers and tenants.
It is reasonable to assume that properties constructed before 1980 may contain Loose-Fill Asbestos Insulation.
The problem confronting all agents and property managers is that the presence of Loose-Fill Insulation containing Asbestos is a “Material Fact.” Therefore, the factsheet outlines the steps that principles, agents and property managers should take in relation to properties they lease and/or manage, or are engaged to sell.
“The protection and representation of NSW agents and property managers is of the utmost importance to EAC, That is why it is so important that we have worked with NSW Government departments on this issue and will continue to do so at every turn.
This factsheet is now complete and ready to be viewed here.