NSW Fair Trading: Independent Property Services Commissioner to be appointed
/8 August 2022
Following feedback collected during NSW Fair Trading’s Property Services Listening Tour earlier this year, the Secretary has decided to establish an independent commissioner for the NSW property services sector.
The decision comes following significant reforms to the industry in March 2020 and is a timely application of additional regulation, after 206 NSW agents were found to be non-compliant with the new Continuing Professional Development (CPD) guidelines in April of this year.
“Whether it’s buying or renting a home, navigating strata or looking for land, everyone engages with the property services sector at some point, and for many consumers, this is often on their biggest investment. This is why we want to ensure those working in the industry are supported and empowered in meeting consumer needs,” Ms Petinos said.
Eleni Petinos, Minister for Fair Trading, commented, “we will legislate to provide the Property Services Commissioner more responsibility for the regulation of the sector, including managing complaints, direct communication and engagement with consumer groups and industry, and investigating breaches of relevant legislation”.
The expectation of the independent Property Services Commissioner is that they will allow for greater support provided to consumers, agents, and other industry participants, to ensure a professional and stable sector.
