REINSW has also called for an increase in on-the-job training for real estate professionals.
The proposals are part of the institute’s submission to Fair Trading’s review into education and training.
President John Cunningham said that under the institute’s proposed reforms, newcomers would take seven units of competence into the workplace and receive an additional 17 units through practical application and repetition.
Mr Cunningham said the overwhelming majority of issues that aggravate consumers and attract the attention of the regulator could be solved by better education and continuing professional development.
Higher entry-level standards would also reduce the share of people who leave the industry in their first year, which is currently at 80 per cent, according to Mr Cunningham.
“This will at least in part address this at the commencement of the new entrant’s employment and, with ongoing study together with practical on-the-job experience, will grow the new entrant into a capable, knowledgeable and skilled professional,” he said.
Mr Cunningham said it’s also important for real estate trainers to regularly update their own industry work experience and skills. The qualification level of trainers should be at least one level higher than whatever they are teaching, he added.