Latest News

CPD audit results "alarming"

6 April 2017

REINSW CEO Tim McKibbin has labelled an audit on CPD compliance “alarming”. The audit showed over 20 per cent of agents are not complying with legislation requiring them to undertake ongoing CPD training. 

The random audit by NSW Fair Trading of 314 people working in the real estate industry found 68 individuals had failed to properly undertake mandatory Continuing Professional Development (CPD). 

NSW Fair Trading also randomly selected and audited CPD evidence supplied on 112 recently renewed licence or certificate of registration applications. This audit found 23 individuals were non-compliant.

A further 202 people audited at these individuals’ workplaces also found another 45 instances of non-compliance. To see REINSW's CPD courses, click here.

REINSW CEO Tim McKibbin said: “I’m aware of instances where the four-hour training has been provided in under 10 minutes and they issue a piece of paper.

“That a further 20 per cent can’t even be bothered getting this piece of paper to give to Fair Trading is alarming.

“Agents who don’t undertake training are unaware of their obligations and it’s a waste of government time if the message is not communicated to those at the coalface of the industry.”

Failure to undertake mandatory CPD training can attract a maximum penalty of $5,500 for individuals. A total of 60 Penalty Infringement Notices were issued during this audit, with a total value of $35,750.

NSW Fair Trading Commissioner Rod Stowe said consumers expected the real estate industry’s licence and certificate holders to be properly qualified.

He added: “Failing to properly undertake further professional development demonstrates these individuals’ lack of knowledge of their obligations under the industry’s regulations.

“Renewal of a licence or certificate of registration under the Property, Stock and Business Agents Act 2002 is conditional on licence and certificate holders undertaking CPD every year.”

In addition to fines for individuals, a licensee in charge who fails to supervise an employee by ensuring their CPD is completed may contravene the legislation, resulting in further fines for the business.

NSW Fair Trading says it will continue to assess compliance levels within the real estate industry to ensure licence and certificate holders are meeting their obligations under the Act and Regulations.