Ahead of a state election on March 28, the NSW Government is attempting to shore up support by grandstanding against real estate agents who underquote, but the laws against this practice already exist and the real problem is the fact that anyone - including a Fairfax journalist believed to be writing a story on the issue to be published this weekend - can enter the industry after only days of training.

NSW Premier Mike Baird and Minister for Fair Trading Matthew Mason-Cox have announced that a re-elected Baird government will "crack down" on the practice of underquoting, but the laws are already in place to stop this and according to the Real Estate Institute of New South Wales, low education standards were at the crux of the issues associated with underquoting.

“This is a problem that has been created by NSW Fair Trading which is ineffective and does not understand the complexity of the market," said REINSW President Malcolm Gunning. “Additional legislation will not solve the problems created by a government which allows real estate agents to enter the profession with as little as one day of training.

“It is time to stop the nonsense and grandstanding and look at the real issue, proper education for agents entering the profession and ongoing professional development,” Gunning said.

The Baird government looks likely to be re-elected.