The idea of an industry-based political party was developed at the 2014 Real Estate Institute of NSW Industry Summit, held in November 2014, and was announced earlier this month.
However, REINSW CEO Tim McKibbin today said he wanted members to understand that the decision to start a real estate party "was not made lightly or in haste".
“REINSW, and for that matter the broader property community, are greatly concerned about the government’s inactivity in the sector,” Mr McKibbin says.
“As a consequence, we have formed the view that by having a political presence, we are able to champion the issues that are affecting the market, consumers and the profession more adequately through that avenue, rather in the traditional lobbying role we have had in the past.
“Our traditional influence and function has been through lobbying political figures, and unfortunately, the message that we were trying to get through and the influence we are trying to have hasn’t been successful, for a number of reasons.”
Mr McKibbin said in many instances, government “lacks the courage” or “prioritises the issues inappropriately” and as a consequence, the REINSW thinks that having a political voice will be far more effective in championing the issues.