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Agents in New South Wales will have to meet new regulations that are set to take effect on 23 March, a step made to increase the industry’s professionalism.
The rest of Australia will follow with regulations rolled out across the country on 21 September.
The changes will mean new people who want to join the industry, and some existing licence holders, will have increased training requirements to enhance the standard of service within the industry, Real Estate Academy of Australia CEO Brendon Walsh said.
“From a professional’s point of view, NSW has made a great leap forward and streamlined many of the licensing options,” Mr Walsh said.
“Under the new reforms, all new agents entering the industry will now be required to complete more levels of training competency.
“One of the major reforms for NSW is that the ‘Assistant Agent’ will have to upgrade to a Class 2 Licence, which is currently referred to as a Full Agent Licence.”
To upgrade, it will require 12 months of experience and the completion of an additional three units of competency per year from the Certificate IV qualification over four years, he said.
“These changes are all about taking the industry to the next level and increasing the quality of education for real estate professionals so that they have a thorough understanding of the legislation, rules of conduct, effective business practices and customer service.
“In my opinion, these changes will generate an increase in consumer confidence and provide NSW sellers and buyers access to a bigger pool of quality agents who are highly skilled and capable of achieving a desirable result.
“As a registered RTO, it is our responsibility to make sure our training meets all guidelines and requirements, and we are ready to roll out the updated courses for NSW licensing.”
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