Business Daily Media

Men's Weekly

.

More training for coffee making than property sales: REINSW

  • Written by Helen Hull


Sydney 9 May 2016. An overhaul of education and training standards for the real estate profession must take place to help prevent illegal activities, according to the Real Estate Institute of New South Wales.

REINSW President John Cunningham said
trust account fraud, misleading and deceptive conduct, underquoting 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,” Mr Cunningham 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,” Mr Cunningham said.

“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.

“Professional agents and consumers demand it, and now is the time to deliver it,” Mr Cunningham said.

Cash vs Accrual: Choosing the Right Method for SMEs

When running a small or medium-sized enterprise (SME), one of the earliest financial decisions you’ll face is choosing between the cash and accrual ac...

Changing the World One Bite At a Time: IKU Turns 40

One of Australia’s first plant-based, chef-led eateries and now ready meal provider IKU is celebrating its 40 year anniversary with the business e...

Three generations marking 45 years in hot-air balloons

Australia’s leading hot-air balloon company is celebrating 45 years in the sky and its 700,000th passenger, driven by the passion of father-son du...

Workplace DMs, Reinvented: Deputy Messaging, Purpose-Built For Shift-Based Teams

Deputy, the global people platform for shift-based businesses, has launched Deputy Messaging, a fully integrated, real-time communication tool designe...

Revolutionizing Fulfillment: How Virtual Warehousing is Changing the Game?

The e-commerce landscape is evolving more rapidly than ever, and the way businesses are managing their fulfillment is also revolutionizing. At the...

SME lender Dynamoney welcomes new CEO, Brett Thomas

Strengthens growth ambitions and signals expanded offering Dynamoney, a leading commercial finance provider for Australian SMEs,  has today appoint...

Sell by LayBy