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Australian real estate 'deserve...

Australian real estate 'deserves best practice'

Best practice should be sought in the Australian property sector.

The Real Estate Institute of Australia (REIA) has argued the country's property sector requires the issue of 'best practice' to be addressed prior to the introduction of new licensing laws for property professionals.

According to the organisation, a number of issues remain surrounding the legislation for national the licensing of property professionals, including increased industry accountability, raised awareness of appropriate behaviour and mandatory continued educational development.

REIA president Pamela Bennett commented: "Ultimately, it's through enhanced practice and culture of the real estate profession that high-level consumer outcomes will be achieved."

She added that without these safeguards and issues of best practice being addressed, customers across Australia will be put at risk and as such, the REIA remains in staunch opposition of the new rules.

Last month, Ms Bennett highlighted the need for continued professional development in the sector by claiming that without it, many people working within the industry will be unable to provide expert advice to their customers.

Posted by Steve Douglas

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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