After years of lobbying for an improvement in the education and training standards of the property industry by the REINSW, the New South Wales Government has moved to implement long overdue reforms.
These changes signal a new era for the professionalism of the industry and will enable agents to deliver an enhanced standard of service.
At the same time the qualification for real estate licensing has changed. The new qualifications are more rigorous and in-depth, and while there are fewer units of competency, the time required to complete the training will be longer.
Under the reforms, agents will also no longer be able to hold a Certificate of Registration for the duration of their career. Instead, they will be required to transition to a Real Estate License within a defined period or face exclusion from the industry for 12 months.
These reforms by Fair Trading are due to be implemented in March 2020.