The Minister for Better Regulation annouces reforms to the Real Estate Industry in NSW
Submitted about 2 months ago by Alan Barry
The Property, Stock and Business Agents Act 2002 has regulated the real estate industry in NSW since 2002. For the most part this Act is the reason why consumers can trust real estate agents to market, sell and lease their property with honesty and integrity.
The new Act; Mr Kean said the proposed amendments would bolster training standards as well increasing transparency and accountability to put consumers first by introducing key reforms.
We have seen a very worrying trend allowing parties other than real estate agents marketing property on the internet via the well renowned property portals such as Realcommercial and Commercialrealestate. Potential tenants and buyers should not trust any advertisers other than licensed real estate agents when viewing and responding to listing on these websites.
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