Real Estate Training

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<p><span style="line-height: 1.3em;">The REIV is embarking on a comprehensive consultation process with members in a bid to address underquoting.</span></p>
<p>The Institute will gain valuable input from members on a suitable outcome which will drive industry-wide change and best serve the interests of consumers.</p>
<p>Industry input would be received via a member-wide, online survey and through forums in key regional centres in the next fortnight.<span style="line-height: 1.3em;"> </span></p>
<p>We are committed to ensuring this issue, which is clearly impacting on members of the public, is addressed in a timely and effective manner.</p>
<p>Poor price quoting is a symptom of a broader, more important issue – the educational qualifications required to practice as an agent in Victoria.</p>
<p><span style="line-height: 1.3em;">We currently have a situation in this state where a Certificate III is all that is required to sell or manage real estate.</span></p>
<p><span style="line-height: 1.3em;">This is the same level as that required to work in hospitality – as a waiter or barista.</span></p>
<p>There are also some registered training organisations (RTO’s) which are offering a full licensed course (Certificate IV) in just five days.</p>
<p>These fast-tracked courses are clearly impacting on the industry, and creating poorly trained, inadequately qualified real estate agents.</p>
<p><span style="line-height: 1.3em;">The agents receiving this training are a significant threat to consumers.</span></p>
<p><span style="line-height: 1.3em;">The Institute would continue to press for the introduction of higher educational qualifications.</span></p>
<p><span style="line-height: 1.3em;"><em>‎Enzo Raimondo is chief executive officer of <a href="https://www.reiv.com.au/" target="_blank">The Real Estate Institute of Victoria</a>.</em></span></p>
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Price quoting issue needs to be addressed: Enzo Raimondo

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<p>NSW real estate agent recruits halved last year, Office of Fair Trading figures show.</p>
<p>The halving in the issuing of new real estate agent certificates in NSW meant the total with the basic qualification was down to 26,390 from 26,737.</p>
<p>The total would continue to fall, Tim McKibbin, chief executive of the Real Estate Institute of NSW told the Australian Financial Review.</p>
<p><img src="https://www.urban.com.au/images/2018/8/29/Real%20Estate%20Agents.JPG" alt=""></p>
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<p data-gtm-vis-first-on-screen-7770372_137="18952" data-gtm-vis-total-visible-time-7770372_137="900">Victoria has yet to show any similar slowdown.</p>
<p>The total number of registered real estate representatives climbed to 16,720 in the year to June from 15,779 as the number of new applications lodged picked up to 1800 from 1581, Consumer Affairs Victoria figures show.</p>
<p>In SA and in Tasmania, the equivalent totals rose for a fifth year.</p>
<p>The WA numbers have continued to decline with total real estate and business sales representative registrations down for a fourth straight year to 11,198.</p>
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New NSW estate agent recruits halve as lean times hit

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<p class="first-para">Some 18 out of 24 real estate agencies in western Sydney recently audited by NSW Fair Trading failed random inspections on industry standards.</p>
<p>The inspections were conducted on c<span>ompliance with Continuing Professional Development (CPD) requirements</span> in December in the suburbs of Wentworthville, Toongabbie, Pendle Hill, Greystanes, Westmead and Girraween.</p>
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<div class="in-content-ad">The compliance crackdown checked whether businesses operated with a necessary licence.</div>
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<div class="in-content-ad">It checked whether agents were sufficiently trained with adequate ongoing supervision, and also whether ongoing professional development was maintained.</div>
<p>Minister for Better Regulation Matt Kean said many agents were not meeting industry standards.</p>
<p>“The results are totally disappointing with only six of the 24 agents inspected found to be fully compliant with NSW Fair Trading requirements,” Kean said.</p>
<p>The three-day crackdown resulted in 30 penalty infringement notices, totalling $31,900.</p>
<p>One agency business that was found to be operating without the necessary licence.</p>
<p>There were three that were using an unaudited trust account.</p>
<p>Some 13 licensees were fined for failing to supervise their business.</p>
<p>Two agents were issued with education letters.</p>
<p>“It’s clear these agents need to pull their socks up, and Fair Trading will continue to target those who aren’t playing by the rules to make sure consumers are put first.” Mr Kean said.</p>
<p>Fair Trading declined to name the agencies because of ongoing investigations.</p>
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