A Bill that will lift education standards across the property services industry has been passed and is expected to come into effect from 1 July 2018, according to the Real Estate Institute of New South Wales. 

REINSW CEO Tim McKibbin said today is a landmark day for the real estate profession. 

“The passing of the Property, Stock and Business Agents Amendment (Property Industry Reform) Bill 2017 through the NSW Legislative Council will see education standards increase across the entire spectrum of the profession. 
 
“It is a generational change that will see agents deliver a higher quality standard of service, which is a win for the consumer, market and agents,” Mr McKibbin said. 

“We have lobbied hard and long for these changes which are one of the first steps on our path to professionalism. 
 
“The Bill elevates best business practices and procedures into the legislation,” Mr McKibbin said.
 
The bill will now be sent to the Governor of NSW for his assent and reforms are expected to be implemented on 1 July 2018. 

Read more about the new laws in NSW that will increase the education standards for real estate agent:

Real estate agent education standards to increase 600%: REINSW

New real estate agent laws pass first hurdle in NSW

REINSW puts real estate industry on path to professionalism