The Real Estate Agents Authority says it is managing the huge weight of complaints it has received against the industry since it began.
Since the Government agency took over from the Real Estate Institute of New Zealand (REINZ) as the industry's regulatory body in November, it has received 693 complaints
and allegations about the activities of those selling real estate.
It has had to invest in additional resources to deal with the load.
However, it draws a distinction between complaints - which relate to licensed real estate agents - and allegations, which may be about an unlicensed operator.
Unlicensed trading falls outside the REAA's jurisdiction. Of the 693 cases received, 70 were regarded as allegations.
Of the rest, 251 have been resolved and 372 classed as open complaints, the authority says.
Only two complaints so far have resulted in charges being laid with the Disciplinary Tribunal.
In another 22 cases, the conduct of the agent was found to be unsatisfactory.
However, in 141 cases the authority ruled no further action was required and in 55 cases it decided not to inquire.
REAA chairwoman Kristy McDonald would not give the Herald on Sunday an interview but in a written statement the authority said there was no backlog of complaints.
"The authority was purposely designed to allow for a flexible and scalable investigation unit, which is able to respond as required to the volume of complaints at any one time."
Investment in additional complaints and investigation resources was undertaken early, drawing on capped funding from the Crown, it said.
Over time, the costs would be recovered from the industry through fees and levies.
Currently it was taking an average of three months to resolve a complaint.
REINZ chairwoman Rosanne Meo said the delays were causing considerable concern for a number of the body's members.
However, she understood that REAA was focused on shortening its turnaround times. In the early stages the authority received 55 complaints a week but that had dropped back to about 15.
"I'm taking heart from the fact that the number of complaints has considerably dropped."
