24 April 2019

Leading real estate heads support removal of property services from NSW Fair Trading

Following the Liberal Government’s re-election in NSW, REINSW is continuing to campaign for the appointment of a dedicated Commissioner for the property services industry. The Institute has received support from real estate leaders in the State, including Dan White of Ray White, Tony Brasier at PRDnationwide Real Estate, Stephen Ellis at Knight Frank Australia, and Raine&Horne’s Angus Raine. 

REINSW CEO Tim McKibbin, says: “We’re thrilled that industry leaders are supporting our call for a dedicated Commissioner for Property Services. We all recognise that major changes are needed within the industry and it’s important to band together.”

Dan White, Managing Director of Ray White, says: “The appointment of a dedicated Property Services Commissioner in NSW is long overdue, we support the REINSW efforts to make this a reality. Property is the most significant financial transaction most Australians will ever engage in and has inherent risk. 

“With more extensive legislation than all of the other comparatively straightforward industries currently regulated by NSW Fair Trading combined, consumers need and deserve strong and consistent representation by a specialised department that can protect consumers and support the industry.”

Chairman and Managing Director of PRDnationwide Real Estate Tony Brasier, says: “The property industry is a major contributor to the NSW economy. We support the REINSW in its efforts for a dedicated Property Commissioner. As the existing structure and responsibilities within OFT [The Office of Fair Trading] are extremely broad, the real estate industry needs a focused resource that can address the many issues impacting the industry and consumers.”

Knight Frank Australia CEO, Stephen Ellis, says: “Knight Frank supports the REINSW’s call for property services to be removed from Fair Trading and the appointment of a dedicated Property Services Commissioner. Given the significance property transactions have on consumers, an experienced commissioner would ensure professional standards are upheld, while also supporting the drive to increase education and customer satisfaction throughout the industry,” 

Executive Charmain at Raine & Horne Group, Angus Raine, says: “The property industry and property market is the backbone of the State’s economy, being the largest employer and the biggest contributor to wealth accumulation for consumers. As such we require a dedicated Property Commissioner to reflect the importance of this vital industry.

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