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A leading industry figure says the key to countering tech-led disruption lies in agents viewing real estate as a profession rather than an industry.
REINSW president John Cunningham says real estate agents need to become part of the solution, not part of the problem.
“The power is in our own hands and the direction we take is our choice,” Mr Cunningham told more than 100 delegates at REINSW’s annual Industry Summit in Sydney.
“It is time to elevate ourselves and the industry by raising our standards of education and lifting the level and value of the advice and services we provide to our clients.”
Agents attending last month’s ‘The Path to Professionalism’ summit at the Sydney Opera House endorsed the move to increase educational standards in the industry.
Mr Cunningham said the industry has allowed educational standards to drop in the last 20 years. At the same time, he the complexities surrounding real estate transactions have increased “exponentially”.
A critical part of being a professional is to be well-educated, he said.
NSW Minister for Innovation and Better Regulation, Victor Dominello, also addressed the summit, telling attendees that the real estate sector is a vital cog in the state government’s success.
“Government is investing in the real estate sector because we recognise its value to the broader economy,” Mr Dominello said.
“We are going to invest in partnering with you through changes to education, training and professional standards.”
REINSW and other industry bodies have played a major role in encouraging the state government to increase education standards.
This advocacy has resulted in the release of a proposed set of reforms designed to transform real estate.
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