Real estate standards must remain high

During the move to a national real estate licensing regime, standards for educating and licensing real estate professionals in the state of Victoria must remain high, according to the chief executive officer of the Real Estate Institute of Victoria (REIV).

Enzo Raimondo remarked on July 1 that while he welcomed the changes, it is essential for real estate professionals to encourage consumer confidence in property transactions.

In particular, he emphasised the importance of ensuring all real estate agents - regardless of whether they work in commercial or residential property - are licensed.

He said: "The move to a national licensing regime is about reducing red tape and building a seamless national economy. Reducing or removing licensing requirements is neither compatible with nor necessary to achieving that aim."

The national occupational licensing system for property professionals is expected to be delivered by the Council of Australian Governments within the next 12 months, with a new regulatory impact statement to be released shortly.

Mr Raimondo asserted that when the statement is published, the REIV "will review it with a view to ensuring licensing requirements are maintained or enhanced".

The Real Estate Institute of New South Wales asserted recently that the proposed national licensing changes could "lower the professional standard" of agents by reducing the required time for entry-level real estate training.