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Game-changing reforms pass

8 March 2018

A Bill that will lift education standards across the property services industry was passed yesterday and is expected to come into effect from 1 July 2018.

REINSW CEO Tim McKibbin described the passing of the Bill as a landmark day for the real estate profession.

He said: “Our persistence and determination paid dividends yesterday with the Upper House.

“The REINSW has been doggedly lobbying Government for these changes for over 10 years, which are one of the first steps on our path to professionalism. We never lost focus or contemplated giving up, and today and into the future we will all enjoy the benefits of our success. 

“The passing of the Property, Stock and Business Agents Amendment (Property Industry Reform) Bill 2017 through the NSW Legislative Council will see education standards increase across the entire spectrum of the profession. 

“It is a generational change that will see agents deliver a higher quality standard of service, which is a win for the consumer, market and agents.

“The Bill elevates best business practices and procedures into the legislation."

The Bill will now be sent to the Governor of NSW for his assent and the reforms are expected to be implemented on 1 July 2018.