THE thought of real estate agents acting under a National License rather than the current State Licenses for property transactions has long been mooted but according to Real Estate Institute of Australia president Mr Peter Bushby, its implementation is still a long way off.
The Real Estate Institute of Australia (REIA) says that there are still many issues to resolve before national licensing can become a reality for the property profession.
Speaking after a meeting of the Interim Occupational Licensing Advisory Committee (OLAC) held in Sydney today, REIA President, Mr Peter Bushby said, “It appears that the views of the industry and the concerns of consumers are being ignored in favour of those of bureaucrats with no background in property.”
“They are more interested in a predetermined ‘one size fits all’ regulatory response”.
At OLAC, the National Occupational Licensing Authority (NOLA) outlined advice it would give to the Standing Council on Federal Financial Relations which will be making its decision on national licensing in March.
REIA argued that the Regulatory Impact Statement (RIS) on which the bureaucrats’ views are based, has failed to provide a reasonable case for change. “The cost benefit analysis in the RIS is flawed and the overall proposal fails to take into account the needs of consumers,” said Mr Bushby. “We have continually asked that time be taken to do the analysis comprehensively and correctly so that the best outcome can be achieved. This is why REIA has asked that real estate be put in the second tranche of national licensing with the other property professions. Don’t put in place a sub-optimal solution for the sake of meeting an artificial deadline.”
“REIA supports the principle of national licensing but is adamant that issues such as the level of qualification, mandated compulsory professional development, licensing of commercial property transactions and minimum age requirement need to be resolved first,” added Mr Bushby.
REIA says the states and territories are not ready for national licensing, with many matters on conduct harmonisation yet to be addressed such as right to commissions, agency agreements, standards of behaviour and appointment of receivers and managers.
The Real Estate Institute of Australia (REIA) is the national professional association for real estate agents in Australia.
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