The Real Estate Institute of Queensland (REIQ) is welcoming the announcement from the Attorney General that consultation is open regarding mandatory continuing professional development (CPD) for real estate practitioners.

REIQ CEO Antonia Mercorella said as the peak body for real estate professionals, the REIQ had been a strong advocate for the establishment of an annual CPD regime for many years.

“The REIQ was founded with the twin goals of giving a voice to the real estate profession and also to raise the bar and deliver greater levels of professionalism within the ranks of all practising real estate professionals,” Ms Mercorella said.

“Our members already reflect the REIQ’s commitment to consumer protection and professionalism in that they must complete at least 100 CPD points annually, in order to maintain membership.

“This ensures that REIQ members meet the highest professional benchmarks and are exemplary professionals in risk management and compliance.

“It’s welcome news that such standards are on the discussion table for the broader Queensland real estate profession, as it is well recognised that consumer protection is critical in a real estate context.”

Ms Mercorella said that conducting complex contractual negotiations and facilitating contracts was part and parcel of the job for real estate practitioners.

“Real estate agents are responsible for selling, leasing and managing the largest and most significant assets owned by the Queensland community,” she said.

“As the law currently stands in the Property Occupations Act, real estate practitioners are required to undertake initial educational training, however there are no ongoing educational and training requirements despite the increasingly complex legal and regulatory landscape they operate in.

“Like legal and medical practitioners, real estate practitioners’ client relationships are fiduciary in nature and involve onerous legal obligations.

“The Queensland public should rightly expect the same levels of professionalism, competency and reliability from real estate agents as they do from lawyers, doctors and certified practising accountants.

“A CPD program which forms part of the real estate legislation and licensing regime, requiring participants to accumulate a total number of CPD points from approved activities, would allow real estate practitioners to maintain, improve and broaden their knowledge, skills, and competence.”

Ms Mercorella concluded that the REIQ would be making a submission on behalf of its members, demonstrating the REIQ’s commitment to higher professionalism, and encouraged real estate practitioners to put forward their submissions.