22 October 2019
Industry Reforms, it’s a term that’s been thrown about for years – but with Fair Trading flagging March next year as the kick-off date, now is the time to understand what they really mean.
These reforms will significantly change the industry.
Agent’s day to day roles and responsibilities will be altered and so will base training requirements.
To make sure everyone understands how they’ll be impacted, we’ve created a simple, go-to-guide to clearly explain what it will mean for you.
DOWNLOAD THE PDF GUIDE
It’s important to note, this guide is based on the proposed reforms as they currently stand. Fair Trading has asked for feedback on the draft documents, which means they could modify the planned changes.
REINSW was among those who submitted feedback on the draft documents – read more on our submission below.
Growing the professionalism of our industry has been a goal for the REINSW for over a decade.
On 2 October 2019, we submitted our response to three draft documents that would implement long overdue reforms to the real estate sector.
These draft documents include the Property and Stock Agents Amendment Regulation 2019 [NSW], the Property and Stock Agents (Qualifications) Order 2019 [NSW] and CPD Requirements for Licence and Certificate Holders under the Property and Stock Agents Act 2002 (NSW) (PSA Act).
These reforms set out more stringent conduct and accountability requirements for practicing agents, they also significantly increase the level of education required for newcomers and existing members of the industry.
The aim is to raise competency across the board and improve consumer confidence in what we do.
By lodging this submission REINSW is hoping to safeguard a better future for the industry.
Draft Amendment Regulation
Draft CPD requirements
To read the full submission click here.
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