Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Government backs development of national licence exchange for real estate

By Juliet Helmke
05 April 2022 | 1 minute read
Hayden Groves

The Australian real estate industry is set to benefit from a government grant that will improve the process for agents relocating states.

The Real Estate Institute of Australia (REIA) has been awarded a Business Research and Innovation Initiative grant from the Department of Industry, Science, Energy and Resources to develop a national real estate licence exchange.

REIA is calling the proposed plans “Project RE-ID”.

Advertisement
Advertisement

The body will work with proptech Realtair as technical advisers, who will lend their expertise in real estate middleware.

Hayden Groves, REIA’s president, said they had taken inspiration from how the implementation of the National Exchange of Vehicle and Driver Information System (NEVDIS) had revolutionised the process of moving for both drivers and Austroads – the association of Australian and New Zealand road transport agencies.

“A driver’s licence style exchange for real estate practitioners will save industry, the community and government time and money and give us unprecedented data insights and intelligence in terms of what is happening in our workforce,” Mr Groves said.

REIA has been awarded an initial $65,000 for a feasibility study, with an additional $675,000 allocated should the project progress to development.

Realtair chief executive and co-founder Peter Matthews said his team was eager to play a part in the project that will bring huge benefit to professionals and industry bodies.

“Our teams are aligned providing value to the industry, government and consumers and this project will lead to a greater understanding and transparency of the industry,” Mr Matthews said.

Mr Groves highlighted how REIA hoped to provide many solutions beyond this one to make the industry more user-friendly for the practitioners within it.

“Under our priority area of regulation and regtech we identified vast potential to reduce compliance costs on practitioners and business through regtech using our proptech knowledge,” he added.

“In other words, we want to use our proptech expertise to deliver regtech solutions for the real estate industry in a real-world way and project RE-ID is a great pilot for this.”

Government backs development of national licence exchange for real estate
Hayden Groves reb
lawyersweekly logo

Tags:

ABOUT THE AUTHOR


Juliet Helmke

Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.