Competent governance needed
22 December 2018
By Tim McKibbin, REINSW CEO

The property services industry wants to be clear, it is not seeking self-regulation, as the Minister for Innovation and Better Regulation, Matt Kean, implies.

This industry – that contributes $107 billion dollars in residential sales to the economy and $8.4 billion in stamp duty revenue annually – seeks a cooperative and constructive relationship with a regulatory authority that has competencies and experience in the property industry.

To solve the issue of incompetent governance by NSW Fair Trading, first there must be an understanding of the issues that led us here. Pretending there is no problem only delays remedial actions desperately required. Exposing the failure of NSW Fair Trading to understand and support the industry is an important step forward.