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REIA highlights need for impro...

REIA highlights need for improvement in standards

Licensing for property professionals could be a positive development, the REIA has stated.

The Real Estate Institute of Australia (REIA) has claimed the introduction of a national licensing scheme for property-related professionals could help to raise standards in the sector.

Pamela Bennett, president of the REIA, said this is a positive development for the Australian property sector.

She stated: "REIA supports national licensing and recognises the benefits, [including] improved mobility between jurisdictions, an end to overlapping laws and a uniform approach across Australia."

However, Ms Bennett noted the need for expediency in the introduction of this measure should not result in a dilution of the rules and regulations that are already in place, as this could lead to a drop in consumer confidence.

The news follows recent comments from Savanth Sebastian, economist art CommSec, who argued a recovery in the Australian property sector could be "imminent".

He told Property Investor that last month's rise in owner-occupier loans was a positive step towards recovery.

Posted by Craig Francis

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