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Generated on: 2023-12-05 12:40:45
CONFIRMED MINUTES
REA BOARD MEETING 17 OCTOBER 2023
At the REA Board Meeting 5 December 2023 on 5 Dec 2023 these minutes were confirmed 
as presented.
Name:
Real Estate Authority
Date:
Tuesday, 17 October 2023
Time:
9:00 am  to  12:50 pm (NZDT)
Location:
REA Office and Zoom, office and online
Board Members: Latham Lockwood, Mele Wendt, Tony Stack, Vern  Walsh
Attendees:
Belinda Moffat, Victor  Eng, Andrew  Bulled, Josh Doherty, Nadine  Thomas, 
Marie  Snell, Saara Fourie
Apologies:
Denese Bates KC (Chair), Herman Visagie
Guests/Notes:
1.
Opening Meeting
1.1
Board in Committee
Issues for discussion with the Chief Executive were agreed. 
1.2
Board and CE alone time
Papers and issues identified by Board were discussed with the Chief Executive.
1.3
Karakia
The Senior Leadership Team (SLT) joined and the meeting was opened with a Karakia at 
10.02am.  
1.4
Confirmation of Agenda
The agenda was confirmed.
1.5
Interests Register
·         No new interests were declared for the register.
·         
 declared his acquaintance with 
 who is named in the legal 
paper. The disclosure was noted and 
 is to be excused from any discussion relating to 
that case.
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Minutes : REA Board Meeting 17 October 2023 - 17 Oct 2023
5) Note 
declared a conflict 
. 
Note 
 declared a conflict in the
. Record in 
disclosures register and litigation schedules. 
Due Date: 
31 Oct 2023
Owner: 
1.6
Confirm Minutes
REA Board Meeting 19 September 2023 19 Sept 2023, the minutes were confirmed as 
presented.
The notes from the Board Strategic Stocktake meeting on 18 September and the minutes from the 
Board meeting on 19 September were confirmed as written.  
2.
Actions from Previous Meetings
2.1
Action Item List
Due Date
Action Title
Owner
18 Sept 2023
1) Promotion of translated guides
Status: Completed on 6 Oct 2023
18 Sept 2023
2) Follow up on the REINZ online magazine
Status: Completed on 6 Oct 2023
19 Sept 2023
3) Use of consumer protection principle statement in our regulatory 
work 
Status: Completed on 11 Oct 2023
20 Sept 2023
4) Discuss approval protocols (moving and seconding) at the next 
Board meeting.
Status: Completed on 11 Oct 2023
30 Sept 2023
5) Develop a leadership programme for SLT and Tier 3 Leaders
Status: Completed on 11 Oct 2023
30 Sept 2023
6) Board Members to declare personal engagements with Real 
Estate Agents in the last 12 months
Status: Completed on 10 Oct 2023
30 Sept 2023
7) Prepare the Governance Self-Assessment letter for approval by 
Belinda Moffat
the Board
Status: Completed on 6 Oct 2023
30 Sept 2023
8) Invite the REINZ Board Chair to a future REA Board meeting.  
Belinda Moffat
Status: Completed on 10 Oct 2023
17 Oct 2023
9) Legal Report Appendix A - Include case summaries for context
Status: Completed on 11 Oct 2023
17 Oct 2023
10) Conflict of Interest: 
Belinda Moffat
Status: Completed on 11 Oct 2023
17 Oct 2023
1) Conduct analysis on CAC remuneration against the 2021 Cabinet 
Fees Framework
Status: Completed on 28 Nov 2023
17 Oct 2023
12) Invite 
 to present the draft business case at the next Board 
meeting
Status: Completed on 11 Oct 2023
17 Oct 2023
13) Terms of Reference for the refreshed IAGs
Status: Completed on 6 Oct 2023
18 Oct 2023
14) Finalise Board workplan and send out placeholders for 2024 
Meetings.
Status: Completed on 11 Oct 2023
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Minutes : REA Board Meeting 17 October 2023 - 17 Oct 2023
Due Date
Action Title
Owner
18 Oct 2023
15) CACs 
Status: Completed on 10 Oct 2023
31 Oct 2023
16) Flexi by Default review
Status: Completed on 10 Oct 2023
31 Oct 2023
3) Finalise a plan for rolling out project management training to all 
Belinda Moffat
staff and Board.
Status: Completed on 28 Nov 2023
31 Oct 2023
4) Bring policy for dealing with difficult people to Board
Belinda Moffat
Status: Completed on 28 Nov 2023
31 Oct 2023
20) REA presence at REINZ Awards
Belinda Moffat
Status: Completed on 10 Oct 2023
30 Nov 2023
10) Transaction Reports
Belinda Moffat
Status: Completed on 28 Nov 2023
30 Nov 2023
11) Explore the feasibility of hosting a CIP webinar for compliance 
Belinda Moffat
managers on Teams in November. 
Status: Completed on 28 Nov 2023
30 Nov 2023
23) REA Emails for Board
Status: Completed on 11 Oct 2023
5 Dec 2023
12) Provide final versions of the funding agreement, TOR & MOU to  Belinda Moffat
the Board once finalised
Status: Completed on 28 Nov 2023
15 Dec 2023
14) Opportunities for Board workshops (discuss in Board strategy 
Belinda Moffat
session)
Status: Completed on 28 Nov 2023
31 Dec 2023
15) Conduct data analysis on the increase in complaints to look for 
trends/drivers
Status: Completed on 28 Nov 2023
31 May 2024
18) Update the Board Handbook to define requirements for a quorum 
Status: Not Started
30 Jun 2024
19) Māori Engagement Framework - Board Marae Visit
Belinda Moffat
Status: In Progress
The actions were taken as read with the following actions raised for discussion:
• Action 17 Marae visit: This work is ongoing. 
 may be able to help progress the 
marae visit in 2024. 
• Action 18 governance project management: 
 has proposed Tuesday 20 
February for the Board workshop. 
Action 24 RPM funding agreement: has been signed by HUD and REA and will be 
uploaded to BoardPro.
• Action 25 Board workshops: Agreed to extended Board meetings from 9am – 3pm in 2024 
to enable strategic discussions. There will also be two strategy sessions in February and 
November.  
• Action 26 Analysis of complaint themes: to come to the Board in December or as a future 
deep dive topic once analysis is complete. 
• Action 11 CAC fees framework: review of Board and CAC fees under the 2022 framework 
is to come to the Board in December. 
6) Confirm afternoon project governance session on 20 February
Confirm afternoon project governance session on 20 February with 
 send out placeholder and add to draft 2024 Board Workplan.
December: Complete, this is scheduled for 1.30pm - 4.30pm on 20 February 
2024 at REA Offices in Wellington.
Due Date: 
31 Oct 2023
Owner: 
Belinda Moffat
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Minutes : REA Board Meeting 17 October 2023 - 17 Oct 2023
7) Upload final RPM funding agreement to BoardPro  
Upload the final RPM funding agreement to BoardPro.  
December: Complete. See RPM Committee Governance Papers on BoardPro
Due Date: 
31 Oct 2023
Owner: 
Belinda Moffat
3.
Chief Executive's Report
3.1
CE Report
The report was taken as read and the following matters were discussed:
·         Updated Board dates were confirmed and calendar invites can now be sent. Microsoft 
Teams will be used for for online attendance.
·         The Chair of the People & Capability Committee,
 gave an overview of 
the main Committee meeting items, including recruitment and onboarding, leadership 
development plan and flexible by default policy which will come to the Board in December 
for approval. 
·         The Committee agreed that specific parts of the Kia Toipoto report will come to the full 
Board in December but not the full report. 
·         An update on CPD completions was provided and it was noted that reminders would be 
sent to those who have not yet completed in October, November and December 
·         The final CPD non-completion rate will be known in mid-January. It is anticipated that as 
last year, people may not complete as they intend to leave the sector. 
·         It was noted that unless an exemption or deferral has been granted, non-completion of 
CPD requires REA to cancel a licensee’s licence.
·         High numbers of non-completion can impact REA’s budget. Management reforecast 
revenue monthly, based on changing licensee numbers.
·         Approximately 80-100 exemptions or deferrals were granted last year. The Board 
supported the publication of the exceptional circumstances guidance to support licensees 
to understand the criteria for a CPD exemption or deferral.
·         The Chief Executive recognised the work of 
 who is leaving REA this week 
for a new role. The Board thanked 
for her tireless work and numerous 
achievements during her time with REA.
·         The Board congratulated the REA team for their successful delivery of Train-the-Trainer in 
Auckland on 3 October.  
·         Settled visits had significantly increased which is largely due to digital marketing. The 
Board acknowledged that this is a positive result. 
·         Post-election reflections were shared and there is some uncertainty currently about the 
future of RPM, so recruitment will be held until further information is known.
·         The possibility of a third D&I CPD topic was discussed, and it was noted that delivery must 
be done well.  Consideration was given to whether it could be achieved via an online 
prerecorded seminar by a specialist provider. Further consideration to be given to whether 
to proceed with the third D+I topic once feedback from the advisory group is received.  The 
Education team should observe the presentation of the 2025 diversity topic early in 2025 to 
assist the decision on delivery of any further topics.
·         Board supported a Board/staff morning tea on 5 December and arrangements for a Board 
dinner were discussed.
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Minutes : REA Board Meeting 17 October 2023 - 17 Oct 2023
 
Recommendations 
It was recommended that the Board: 
 
• Note the contents of this report. 
• Discuss the health and safety update and provide feedback on any issues arising
• Discuss and provide feedback on any other matters raised in this report where indicated.
 
Outcome:  Noted, discussed and feedback provided.
 
 
8) Send out calendar invitations for December Board events
Send out calendar invitations for a staff morning tea with the Board in 
December and update the Board meeting and dinner invites once arrangements 
have been confirmed. 
Due Date: 
31 Oct 2023
Owner: 
17) Consider delivery methods of D&I topic in early 2024
Consider delivery methods of D&I topic in early 2024.
December: To be discussed with internal and external CPD advisory group and 
Approved Training Providers ahead of recommendation of topics to the Board in 
March
Due Date: 
31 Mar 2024
Owner: 
3.2
Break
The Board took a 10-minute break at 10.45am and recommenced at 10.55am.
4.
Board Papers for Approval or Discussion
4.1
Policies Review 
The Travel Expenditure Policy was presented to the Board for discussion and approval. 
 
The Head of Corporate Service, 
 highlighted the key changes to meal allowances and 
Koru memberships on a case-by-case basis.
 
Travel Expenditure Policy
• Koru Membership: add in ‘…travel regularly enough on REA business’. 
 
Protected Disclosure Policy
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Minutes : REA Board Meeting 17 October 2023 - 17 Oct 2023
• The Protected Disclosures Policy had been reviewed by People & Capability team and no 
changes were recommended for the Board to consider. This policy will be reviewed again 
in two years.
 
Recommendations 
It was recommended that the Board: 
a.   Approve the updated Travel Expenditure Policy. 
b.   Note there are no changes to the Protected Disclosure Policy
 
Outcome: Noted and approved unanimously, with one agreed change to the travel expenditure 
policy.
4.2
Accountability Documents: 2022-23 Annual Report and Audit
The paper was taken as read and the Chief Executive acknowledged the contribution of 
on the work that went into pulling together the 
Annual Report.   
 
2022-2023 Annual Report
• The design version was provided in the supplemental BoardPro folder. 
• The Board had no additional comments or queries.
 
Audit Representation Letter
• The Board had no issues to raise.
Recommendations 
It was recommended that the Board: 
a.   Note the Chief Executive and Head of Corporate Services’ Representation Letter
b.   Approve the Board Chair and the Audit & Risk Committee Chair signing the 
Representation Letter 
c.    Approve the 2022/2023 annual report
d.   Approve a delegation to 
to sign the Annual Report
e.   Approve a delegation from 
 to management to apply 
their e-signatures to the Annual Report
f.    Approve a delegation to the Chief Executive to finalise the 2022/23 Annual Report.  
 
Outcome: All recommendations were noted and approved. 
4.3
Risk Report and Register 
The paper was taken as read and 
 highlighted the following: 
• Key updates from the September Audit & Risk Committee meeting are highlighted in 
yellow. 
• An outcome from the post-strategy meeting debrief was that there is no need for risks on 
watch to be reported monthly, and only key issues and mitigations are to be flagged in 
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Minutes : REA Board Meeting 17 October 2023 - 17 Oct 2023
these monthly reports (a “snapshot in time”) going forward, with the full risk register to be 
presented to the Board six-monthly.   
 The Board discussed the following:
•
 
 
Recommendations 
It was recommended that the Board: 
a.   Note the risk report and register and provide any feedback 
b.   Note the Hazard Register and provide any feedback. 
Outcome: noted
4.4
Systems Enhancement Project (SEP) Update 
 
The paper was taken as read and the Chief Executive introduced 
 to the Board. 
 
 presented the business case for change, which includes looking at future 
requirements and aiming for a suite of systems that are supported into the future and that link well 
with each other. Key discussion points include:
·         Governance and the PMO are important in this process.
·         A 36-month period is anticipated for this project, with an aim to 
June 2024. 
 
The Board raised the following matters:
·         Will the SEP programme impact progress with CIP? The CE confirmed there will be 
some disruption with implementing the new CRM in terms of testing, migration and 
training, however the RST team can work perfectly well with the current system in the 
interim.  
·         Financial ramifications and budget allocation: 
There are also 
anticipated savings over time when factoring in our current costs with our existing 
vendors. 
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Minutes : REA Board Meeting 17 October 2023 - 17 Oct 2023
 
The CE reminded the Board and Management that REA is entering into a procurement process so 
there is a need to be mindful of contact with potential vendors. 
 
Recommendations  
It was recommended that the Board: 
a.   Note the progress update of the Systems Enhancement Project
b.   Endorse the Business Case
c.    Approve a delegation to the Chief Executive to issue an RFP for the Systems 
Enhancement Project.
Outcome: Noted, endorsed and approved. 
2) Procurement rules to be circulated to the Board and SLT.
Procurement rules to be circulated to the Board and SLT.
December: Circulated by CE on 27 October to Board and SLT
Due Date: 
20 Oct 2023
Owner: 
Belinda Moffat
5.
Board Papers for noting
5.1
Regulatory Services Team Paper
The paper was taken as read. 
 highlighted key points in the paper relating to licensee 
numbers, impact of CIP and SEP on the team, and that there are 
 to be 
assigned. 
invited questions from the Board.
 
The Board did not have any questions or comments.
 
Recommendations 
It was recommended that the Board: 
a. Note the contents of the Report and provide feedback on any matters raised.
Outcome: Noted
 
5.2
Legal Team Paper
The paper was taken as read and the Chief Executive highlighted the following:
·         CIP case management approach and impacts for CACs.
·         Unlicensed trading case: note that a warning policy is being developed. 
·         New Legal Services Manager 
 is starting next week. 
 
The Board discussed where property developers, contractors, employees of developers etc fit in 
the unlicensed trading space. It was noted that this is where areas of concern may arise and is a 
focus area for REA.
 
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Minutes : REA Board Meeting 17 October 2023 - 17 Oct 2023
Recommendations 
It was recommended that the Board: 
a. Note the contents of the Report and provide feedback on any matters raised.
Outcome: Noted
 
5.3
PMO Report on Projects and Key Initiatives
The paper was taken as read and the Chief Executive invited questions or comments from the 
Board.
 
The Board did not have any questions or comments.
 
Recommendations  
It was recommended that the Board: 
a.   Note the contents of this paper and the attached PMO report.
Outcome: Noted.
5.4
Complaints Improvement Project Update
The paper was taken as read and 
 Head of Regulatory Services, highlighted the 
following:
·         Monday 16 October marked a big milestone in this project with the new complaints 
process going live. This was celebrated with a staff morning tea.
·         Recruitment remains a key priority to support the roll-out of the new process. 
 
The Board discussed the following:
·         Key skills REA is looking for in its recruitment:
o   Complaint management skills
o   knowledge of regulation and communicating to a regulatory audience 
·         Complaint facilitator and complaints officer remuneration.
·         It is important to celebrate the milestones of this project. Management advised that 
regular celebrations are held as we reach project milestones, alongside using the 
rewards and recognition framework to acknowledge individual and collective successes 
as the new processes are embedded.
·         The Board acknowledged the great work done by 
 and the project team 
to get to this stage of the project.   
 
Recommendations  
It was recommended that the Board: 
a.   Note the update on the Complaints Improvement Project
Outcome: Noted.
 
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Minutes : REA Board Meeting 17 October 2023 - 17 Oct 2023
16) Arrange celebration for CIP once fully implemented and benefits are starting to 
be realised
Arrange an appropriate celebration once CIP is fully implemented and benefits 
are starting to be realised.  
December: Scheduled for March 2024 to mark end of Phase D and closure of 
Project and October 2024 to mark 1 year since implementation.
Due Date: 
1 Mar 2024
Owner: 
5.5
Property Management Regulation & REAA Amendments Update
The paper was taken as read. The Chief Executive highlighted that:
The Board discussed the following:
 
Recommendations  
It was recommended that the Board: 
a.   Note this report.
Outcome: Noted.
9) Finalise date for next Property Management Regulation Committee meeting
Finalise date for next Property Management Regulation Committee meeting.
December: By agreement we did not hold a Committee meeting in November. 
Meetings for the Committee in 2024 are proposed to be held in March, May, 
August and November (and cancelled if not needed). Dates TBC, via 
 with 
members.
This action will now be closed.
Due Date: 
1 Nov 2023
Owner: 
Belinda Moffat
6.
Other Business
6.1
General Business
·         Management will provide an update on the internship programme in December.
·         The Board formally acknowledged the service of 
 and her departure 
from REA.
13) Provide the Board with an update on internships in the next P&C update
Provide the Board with an update on internships in the next P&C update. 
December: Internship programme commenced. Update provided in CE 
December Report.
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Minutes : REA Board Meeting 17 October 2023 - 17 Oct 2023
Due Date: 
5 Dec 2023
Owner: 
7.
Close Meeting
7.1
Closing Karakia
The meeting was closed with a Karakia at 12.07pm.
7.2
Close the meeting
Next meeting: REA Board Meeting 5 December 2023 - 5 Dec 2023, 9:00 am
Unuhia, unuhia                                              Draw on, draw on,
Unuhia ki te uru tapu nui                              Draw on the supreme sacredness
Kia wātea, kia māmā, te ngākau,                 To clear, to free the heart,
te tinana, te wairua t e ara takatā                 the body and the spirit of mankind
Koia rā e Rongo, whakairia ake ki runga    Rongo, suspended high above us (i.e. in ‘heaven’)
Kia tina! TINA! Hui e! TĀIKI E!                     Draw together! Affirm!
7.3
Lunch 12.50pm
Signature:____________________
Date:_________________________
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