Registry Detail

983

Proposal

28/02/2002 14:51:00

Following on discussion in the meeting of the Technical Subgoup , Canada would like to propose a change to CPC 722 regarding real estate appraisal. In particular, they would like to remove this product from 7222 and 7223 and create a new class for it as 7224. The rationale is that this service exists as a significant stand-alone product in Canada, offered regardless of the type of property being evaluated. TSg Meeting 02/2002 Should the explanatory note for CPC V.1.1 codes 7222/7223 make mention of real estate brokerage and agency activities? Rationale - similar terminology appears in the insurance and securities subclasses.

Current situation Division 72 REAL ESTATE SERVICES Real estate services on a fee or contract basis Property management services on a fee or contract basis Buildings and associated land sales on a fee or contract basis 72221 Residential buildings and associated land sales on a fee or contract basis This subclass includes: -sale of houses, flats, apartment buildings and other residential properties, and similar intermediation services involving buying, selling, renting and appraisal of residential buildings and land, on a fee or contract basis 72222 Non-residential buildings and associated land sales on a fee or contract basis This subclass includes: -sale of non-residential buildings and land, such as offices, factories, shops, etc., and similar intermediation services involving buying, selling, renting and appraisal of non-residential buildings and land, on a fee or contract basis Land sales on a fee or contract basis 72230 Land sales on a fee or contract basis This subclass includes: -sale of vacant land, and similar intermediation services involving buying, selling, renting and appraisals non-residential or residential on a fee or contract basis Proposal Appraisal services on a fee or contract basis 72240 Appraisal services on a fee or contract basis This subclass includes: -appraisal of residential buildings and land, non-residential buildings and land, and residential and non-residential vacant land on a fee or contract basis 6/12/01- Proposal of Lyn Blair - While we are happy with the term 'real estate appraisal services' ('real estate' has been added to differentiate from other appraisal services), the real estate industry in Australia is more familiar with the term 'property valuation services'. 7224 Real estate appraisal services on a fee or contract basis 72240 Real estate appraisal services on a fee or contract basis This subclass includes: -appraisal of residential buildings and land, non-residential buildings and land, and residential and non-residential vacant land on a fee or contract basis 2/2/2001 - Incorporating Australian suggestion into Candadian proposal

CPC V.1.0 code 722 changed to the following: 722 Real estate services on a fee or contract basis 7221 Property management services on a fee or contract basis 7222 Buildings and associated land sales on a fee or contract basis 72221 Residential buildings and associated land sales on a fee or contract basis This subclass includes: - sale of houses, flats, apartment buildings and other residential properties, and similar intermediation services involving buying, selling and renting of residential buildings and land, on a fee or contract basis 72222 Non-residential buildings and associated land sales on a fee or contract basis This subclass includes: - sale of non-residential buildings and land, such as offices, factories, shops, etc., and similar intermediation services involving buying, selling and renting of non-residential buildings and land, on a fee or contract basis 7223 Land sales on a fee or contract basis 72230 Land sales on a fee or contract basis This subclass includes: - sale of vacant land, and similar intermediation services involving buying, selling and renting non-residential or residential on a fee or contract basis Proposal 7224 Real estate appraisal services on a fee or contract basis 72240 Real estate appraisal services on a fee or contract basis This subclass includes: -appraisal of residential buildings and land, non-residential buildings and land, and residential and non-residential vacant land on a fee or contract basis TSG 02/2002 Change 1st inclusion of CPC V.1.1 code 72221 to read: - real estate agency and brokerage houses related to the sale of houses, flats, apartment buildings and other residential properties, and similar intermediation services involving buying, selling and renting of residential buildings and land, on a fee or contract basis 2. Change CPC V.1.1 code 72222 to read: - real estate agency and brokerage houses related to the sale of non-residential buildings and land, such as offices, factories, shops, etc., and similar intermediation services involving buying, selling and renting of non-residential buildings and land, on a fee or contract basis 3. Change CPC V.1.1 code 72230 to read: - real estate agency and brokerage houses related to the sale of vacant land, and similar intermediation services involving buying, selling and renting, non-residential or residential, on a fee or contract basis