The aspirations for the introduction of a new property professional licensing standard should be much higher than at present, the Real Estate Institute of Australia (REIA) has claimed.
REIA president Pamela Bennett commented: "The current proposal demonstrates a lack of appreciation as to the role and the level of skills that an agent's representative, covering sales and property management, requires to display on a daily basis."
She added that the present proposals fail to take into account the massive value of property portfolios being handled by some members of the industry, sometimes running into the hundreds of millions of dollars.
Ms Bennett argued any move to licence professionals should therefore reflect these responsibilities and ensure standards of behaviour and training are the very highest for all sector workers.
Earlier this month, the REIA claimed the Reserve Bank of Australia was remiss in failing to cut the base rate further in November.
Posted by Steve Douglas
