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Alongside housing supply and affordability, and trust and reputation concerns, it’s one of the “big three issues” facing practitioners across Australia.
These three issues were flagged as the “top three practitioner-led priorities for REIA’s second strategic policy, Getting Real 2.0” outlined at the Real Estate Institute of South Australia industry conference “Revolution”, held in Adelaide on 2 March 2023.
According to REIA president Hayden Groves, Getting Real 2.0 will “directly address key priorities raised by institute members in the changing real estate cycle.”
“Our members, informed by our network of practitioners and agencies from across Australia, said their big three issues were: housing supply and affordability; the trust and reputation of real estate agents; and cyber security, data, and privacy,” he stated.
With the “big picture issues” now identified, Mr Groves said tangible actions could now be put in place to deal with them.
“REIA’s Getting Real 2.0 will identify the key policy positions and purposeful actions to address these specific challenges at an industry, institute, agency and practitioner level.
A direct deliverable of REIA 2025, the institute’s Getting Real 2.0 is reportedly based on “a strict criterion to set up the Australian real estate industry for success”.
It aims to drive real estate listings over the short and long term, defend against “draconian” regulation and compliance, support confidence and trust in agents and markets, address immediate economic or reputational threats and “plan for big picture strategic issues to secure agencies a profitable future.”
It’s the second iteration of “Getting Real”, a policy agenda aimed at uniting the sector around a core strategy.
In the first set of policy priorities, six core issues were identified by REIA as integral to the industry’s health.
These priorities included the urgent addressing of national property manager shortages, securing bipartisan commitment to a national plan for housing supply and affordability, as well as the formation of a national council of housing ministers.
It also flagged the phasing out of stamp duty nationally and the increase in holistic first home buyer support, as well as the pulling of policy levels to encourage “rightsizing”.
At that time, the REIA was also exploring the role of blockchain technology for Australian real estate agents.
That led to the release of the report titled Blockchain: Opportunities and Disruptions for Real Estate, which stated that the technology “offers the potential to completely improve and grow trust in a real way.”
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
