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The real estate industry in New South Wales is moving forward with plans for professional recognition, says the Real Estate Institute of NSW.
REINSW president John Cunningham says after many years of lobbying for increased education and standards, the NSW government has provided REINSW with the education foundations to pursue profession recognition.
“The need for greater accountability and transparency in the ever increasing complexities of property transactions has led to a clear need for recognisable property professionals who offer trusted advice, service and expertise to stand up and be counted,” Mr Cunningham said.
REINSW has created an advisory group to create a blueprint for professional recognition. The group comprises of thought leaders from last year’s REINSW Industry Summit, as well as other property professionals.
“For the past three years, REINSW has been formulating plans behind the scenes and creating the environment for these first steps to be taken,” Mr Cunningham said.
“The advisory group meeting signalled the official beginning of that journey. The diversity of the group is its strength. The clear message of all participants was not only the need for professional recognition, but also the urgency to expedite and resource the project was loud and clear.
“The challenge is to create the critical elements of a profession in such a way as to achieve a new benchmark for standards, processes and behaviours that are clearly understood by both the profession and consumers alike. The consumer experience and a trusted status are the key tests of any profession and these are also the goals for the real estate profession.”
Mr Cunningham said the advisory group has established committees to form the framework for an application to the Professional Standards Authority.
“The next step on the journey will be a think tank in May where 40 to 50 of the best and brightest will discuss the project, its milestones and, as a result, decisions and commitments will be made on moving forward,” he said.
“Members of the industry will soon be faced with making a decision as to what path they are going to take, the path to trusted professional adviser or the path to just connecting the dots in a low-service, low-expertise process environment.”
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