ID:

983

Type:

Proposal

Last updated:

28/02/2002 14:51:00

Description:

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 02/2002Should 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 situationDivision 72 REAL ESTATE SERVICESReal estate services on a fee or contract basisProperty management services on a fee or contract basisBuildings and associated land sales on a fee or contract basis72221 Residential buildings and associated land sales on a fee or contract basisThis 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 basis72222 Non-residential buildings and associated land sales on a fee or contract basisThis 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 basisLand sales on a fee or contract basis72230 Land sales on a fee or contract basisThis 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 basisProposalAppraisal services on a fee or contract basis72240 Appraisal services on a fee or contract basisThis 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 basis6/12/01- 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 basis72240 Real estate appraisal services on a fee or contract basisThis 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 basis2/2/2001 - 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 basis7221 Property management services on a fee or contract basis7222 Buildings and associated land sales on a fee or contract basis72221 Residential buildings and associated land sales on a fee or contract basisThis 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 basis72222 Non-residential buildings and associated land sales on a fee or contract basisThis 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 basis7223 Land sales on a fee or contract basis72230 Land sales on a fee or contract basisThis subclass includes:- sale of vacant land, and similar intermediation services involving buying, selling and renting non-residential or residential on a fee or contract basisProposal7224 Real estate appraisal services on a fee or contract basis72240 Real estate appraisal services on a fee or contract basisThis 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 basisTSG 02/2002Change 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 basis2. 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 basis3. 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