September 3rd 2003 the Presidents of the Real Estate Institute of Queensland and
the Real Estate Industry Association of Papua New Guinea signed an MOU forging
a link between the two real estate industry groups. REIA President Mike Quinn
met with REIQ President Mark Brimble at the REIQ offices in Brisbane where the
Agreement was signed.
MOU enables Members of the REIA to gain access to the REIQ and its resources and
treats the PNG REIA Member the same as if they were a full Member of the REIQ.
REIQ CEO, Mr Don Mc Kenzie, also joined the signing ceremony and informal discussions
regarding our respective organisations were held. Mr McKenzie issued a warm welcome
to REIA Members and invited them to make use of the facilities that were available.
The resources and training capabilities of the REIQ are vast and of an exceptionally
high standard and the REIA is extremely grateful to the REIQ for their kind offer
to allow REIA members full access to their organisation. Further discussions will
be held to see if it may be possible to have a training seminar for REIA Members
with REIQ assistance before the end of the year.
copy of the MOU follows:
Between THE REAL
ESTATE INSTITUTE OF QUEENSLAND LIMITED (hereinafter referred to as REIQ), a representative
organisation incorporate in Queensland, Australia, and the REAL ESTATE INDUSTRY
ASSOCIATION INC. OF PAPUA NEW GUINEA, a non-profit making organisation operation
under the laws of Papua New Guinea, (hereinafter referred to as REIA)
A. REIQ is the professional association of Queensland real estate agents established
for the purpose of promoting the growth and development of the real estate industry
in Queensland so as to enhance its contribution to economy and the public benefit.
REIA is an association established for the key purpose of promoting the growth
and development of the real estate industry in Papua New Guinea so as to enhance
its contribution to the economy.
C. REIQ and
REIA (hereinafter referred to as the "Co-operation Associations"),
desire to become associated with each other by entering into this Memorandum of
Understanding, the purpose of which is to provide for exchange, representation,
education and other mutual benefits by:
promoting the promulgation or adoption of a mutually acceptable code of ethics,
the advancement of a high standard of practice, and the enforcement of professionalism
in the real estate industry;
to facilititate business opportunities for members of the Co-operation Associates
who may be working together in each other's markets;
exchanging, on an annual basis, current information on the state of real estate
markets, real estate procedures, relevant licensing, tax, and foreign investment
laws, and association facts;
and hosting trade missions and networking opportunities between and among members
of the Co-operating Associations;
co-ordinating and promoting the offer and interchange of products, services and
educational courses of the Co-operating Association;
promoting and protection trademarks, copyrights and all other forms of intellectual
property owned by the Co-operating Associations;
promoting the ideals of property ownership and occupational rights in national
and international forums; and
for all other purposes which are mutually beneficial to REAA and REIQ.
REIQ agrees to provide the following assistance to REIA:
Provide copies of documents that will assist REIA to establish its association
policies and procedures e.g. Constitution, By-Laws, Code of Ethics, disciplinary
procedures, office manuals etc.
REIA members to participate in REIQ activities conducted in Queensland such as
the annual RealBiz conference, seminars and training on the same terms and conditions
as REIQ members.
· Provide training
courses and seminars in Papua New Guinea for REIA members as requested by REIA
at REIA's cost and subject to availability of reasons.
Mr. Michael Quinn, President
For and on half of the Real Estate Industry Association
Inc. of Papua New Guinea
Mr. Mark Brimble,
For and on behalf of The Real Estate Institute of Queensland Ltd.