Currently prospective buyer’s agents in NSW are only required to complete approximately half the training necessary to become a real estate agent.
Rich Harvey, managing director of buyers’ agency Propertybuyer and chairman of the NSW Buyers’ Agent Chapter believes at a minimum buyers’ should be required to complete the same training as real estate agents.
“To become a buyers’ agent you only need to complete half the modules, half the education a real estate agent does,” Harvey said.
“Be it an investment property or a family home, as a buyers’ agent you’re dealing with people’s greatest assets and those people should be confident you have the right knowledge.”
Harvey believes agents and buyers would be better served if agents were required to complete an apprenticeship before they could operate.
“It used to be you had to do a two year apprenticeship under a licenced agent and I think that’s a much better system.
“It’s like any industry and more than just a certificate counts, if a carpenter showed up at your house with a certificate but no hands-on experience you wouldn’t be too confident in them.”
Harvey said he has mandatory monthly training days for the agents his company to employ to ensure they can provide their customers with the best service.
Harvey’s ideas have been supported by the Real Estate Institute of NSW (REINSW), with the body’s chief executive officer having called for a parliamentary inquiry into the industry if training requirements aren’t improved.
“REINSW has drawn a firm line in the sand and has put government on notice that the education and regulatory oversight of the profession needs radical and immediate reform,” REINSW CEO Tim McKibbin said.
“If the government does not respond, it is our intention to seek a parliamentary enquiry for which we have strong support from the overwhelming majority of property stakeholders.”
