As mentioned previously, the NSW Government announced some of the biggest ever reforms to Real Estate Licensing, that directly affect everyone working in Real Estate in NSW. This paper identifies a range of reforms that the Government intends to introduce into Parliament in early 2017. LinkLearn is already prepared and ready for these changes.
The Government has opened the reforms up for feedback.
The below is from the Department of Fair Trading Website.
“The main proposed changes are as follows:
Creation of the category, ‘licensee in charge’, requiring additional skills and experience and to provide stronger supervision obligations
Improved entry level education for certificate holders and the creation of a career pathway
Reduction in the number of other licence categories
New CPD requirements for all licensees, with compulsory and elective topics
Greater conduct and accountability requirements
Enhanced audit requirements for trust accounts
Enhanced disciplinary provisions to cancel or suspend a licence immediately where there is high and immediate consumer risk
Clear definition of ‘material fact’ disclosure obligations.
Have your say
The Reform Paper has been publicly released for feedback on the detail and timing of the reforms. To provide feedback on the reforms, please read the following documentation: