Lifting industry standards to  be recognised as a profession is the key focus of the Real Estate Institute of New South Wales’ fourth annual Industry Summit, which will be held in Sydney next week.

REINSW President John Cunningham said real estate is currently widely viewed as an industry, not a profession, and lifting training standards is the key to fixing this image problem.

"It is time to elevate ourselves and the industry by raising our standards of education and lifting the level and value of the advice and services we provide to our clients," Cunningham said.

"Over the last 20 years, we’ve allowed our education standards to slip. At the same time, we’ve seen the complexities surrounding the real estate transaction increase exponentially and every day we’re faced with consumers who have higher and higher expectations."

The Summit will see over 80 industry leaders discuss and review how real estate is at the crossroads as a profession.

"It’s about far more than just starting to call ourselves a profession in the common parlance. The word ‘profession’ is not just a label," said Cunningham.

"These days we throw around lots of words, like ‘integrity’ and ‘transparency’. After a while they just wash over you. ‘Professional’ is another one. They’re words that are just thrown around without understanding the true essence of what it means to be professional.

"Our behaviours matter and need to reflect our standards and values. We’re not going to change public perception and lift ourselves to the standard of a profession until we actually all start behaving like professionals." 

Cunningham said there have been significant improvements in the skills and standards of the top echelon in the industry, but it must take the role of expert trusted advisor seriously to start the journey.

Key speakers at the event include Minister for Innovation and Better Regulation Victor Dominello, renowned real estate and business coach Michael Sheargold and REINSW President John Cunningham.

An expert panel consisting of BresicWhitney Director Shannan Whitney, Morton Real Estate Managing Director, Ewan Morton, Laing+Simmons Managing Director and REINSW Vice President Leanne Pilkington, LJ Hooker Head of Real Estate Chris Mourd and Starr Partners CEO Douglas Driscoll will lead a discussion with attendees regarding the over arching theme "Is the real estate industry ready willing and able to become a true profession?"

The REINSW Industry Summit will be held on Thursday 24 November 2016 at the Sydney Opera House.

See also:

NSW government releases reform paper to improve real estate standards

REINSW supports education and training reform paper

New codes of conduct in WA