It only takes four days to complete a barista course - the same amount of time it takes to complete an entry-level qualification to sell a home.

"I don’t need to explain why a property transaction is more complex than selling a cup of coffee," said REINSW CEO Tim McKibbin.

"The difference in the level of competency required to perform each task is obvious and that should be reflected in the training requirements."

The New South Wales industry body is running a vocal campaign in the leadup to the State Election in March, calling for changes to the regulatory environment for the industry. Of particular concern is the paltry training requirements.

Traditionally, gaining qualifications for entry to the property services industry required three years at TAFE. The education requirement was slashed to four days by NSW Fair Trading in 2003, but since then property transaction values have skyrocketed and become increasingly more complex.

The REINSW has been lobbying the NSW Government for improved education and training standards ever since.

Mr McKibbin says the weeks leading up to the 23 March election will be a key period for the industry body and its members.

So far, the REINSW has met with the political parties and sought their policy position regarding the property industry. 

"REINSW will be informing its members of these policy positions and requesting them to appraise their clients so that, come Election Day, they can make an informed choice."

In 2016, the NSW government passed legislation that will increase the education requirements by new entrants into practice.

But NSW Fair Trading are yet to implement the reforms.

"We believe this is because Fair Trading believes more training will reduce competition in the industry. REINSW agrees competition is a positive market influence, however, it must be competition between well-educated, experienced professionals. Competition alone is not the panacea for all that ails a market," Mr McKibbin said.

“The current education requirement not only fails to prepare agents to respond to the reasonable expectations of consumers, but it also fails people wanting a career in real estate practice.

"Eighty per cent of new entrants leave the industry in the first year.”

NSW Labor recently announced it would establish a dedicated Strata Commissioner, but Mr McKibbin says while this is welcome news, a Commissioner for all things property, including strata and real estate services would serve the public further.

“The industry, and more importantly consumers, need a regulatory authority that will work in a collegial manner and support it. Industry’s current relationship with Fair Trading is adversarial, which benefits no one,” Mr McKibbin said.

Last year, REINSW launched a petition calling for the industry to move out from under NSW Fair Trading and place it under the direction of a dedicated Property Services Commissioner.

“We are seeking over 10,000 signatures, as this level of engagement means that a third of the profession is voicing their opinion and action would need to be taken,” Mr McKibbin said.

At the time of writing, it has over 2,300 signatures. 

Sign the "Gladys Berejiklian: Move Property Services Out of Fair Trading" petition here

Related reading:

REINSW resigns from Real Estate Reference Group

Industry body launches petition for property services minister

REINSW CEO blasts Fair Trading, calls for dedicated property minister