Real estate agent education in a "dire state": REINSW

Real estate agent education in a "dire state": REINSW
Jessie RichardsonNovember 16, 2014

Agents in New South Wales "have no idea how to properly conduct themselves" as skilled professionals, according to the Real Estate Institute of New South Wales (REINSW).

The agents' association has suggested a partial self-regulation model to train real estate agents, claiming the education of agents is in a "dire state".

REINSW deputy president John Cunningham met with NSW Fair Trading Minister Matthew Mason-Cox last week to discuss a training partnership to address concerns about the professionalism of the state's real estate agents.

"The proposal to partner with NSW Fair Trading, to ensure a more rigid set of controls and compliance in the form of a guild model, has an emphasis on education and on-going training to get to the root cause of consumer concerns," said Cunningham.

"Over the past 10 years the educational standards of entry into the real estate industry have been watered down to a point where agents, having completed their certificate of registration course through some [Registered Training Organisations], still have no idea how to properly conduct themselves in their capacity as what consumers consider them to be as skilled professionals."

According to Cunningham, Mason-Cox took note of consumer concerns about underquoting, an illegal practice where agents bait buyers by intentionally quoting a lower price than reasonably estimated.

"We had a productive meeting and the minister said he was keen to keep an open dialogue," said Cunningham.

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