When you hear the latest news from the Real Estate Institute of New South Wales, it's no wonder more Australians are choosing to sell their homes and businesses privately, with the help of Coast to Coast Media!
The REINSW is calling for an overhaul of education and training standards for the real estate profession, to help prevent illegal activities.
REINSW President John Cunningham said trust account fraud, misleading and deceptive conduct, under quoting and a lack of knowledge about property and the laws relating to its transaction are simply unacceptable behaviours.
“On the surface real estate sales and management appear to be very simple,” he said. “However it is in reality a very complex and multilayered process that requires a high level of knowledge and diverse skills to carry it out in a professional manner.
“Most people would expect that an agent has been properly trained and has the required qualifications to fulfil their obligations.
"The sad truth is that for the past 10 years the education standards delivery, especially in NSW, have been watered down and in the interest of increased competition abused by many course providers that are allowed to continue operating.
"It actually requires more training to become a barista than a real estate agent!
“You would expect an agent to understand how the property they are dealing with was built; its age; what the zoning is; if there are any easements, building or height restrictions; and what special conditions are in the contract, to name just a few issues.
“Professional agents can answer all of these questions, but not every agent will be able to because of the low level of training in the industry.
“The Real Estate Institute of New South Wales has been fighting for the past 10 years for better training and qualifications, and government cannot ignore the issue any longer.
“Inadequate real estate agent training needs to be addressed to achieve better consumer experiences and outcomes. Both the NSW Government and NSW Fair Trading must act on our recommendations for reform."