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Real estate reforms have no set commencement date: NSW Fair Trading

NSW Fair Trading has confirmed that the CPD reforms in NSW don’t currently have a commencement date.

Speaking to Elite Agent, a NSW Fair Trading spokesperson said that the CPD guideline changes were just one part of the package, and due to the size of the task at hand, no commencement date had currently been set.

“The new CPD guidelines are just one element of the Government’s Real Estate Reform Package. The other elements involve changes to the Property, Stock and Business Agents Act 2002, the Property, Stock and Business Agents Regulation 2014, the Property, Stock and Business Agents (Qualifications) Order 2009, and the supervision guidelines for licensees in charge,” said NSW Fair Trading.

The spokesperson went on to say that although these changes to the Act had been passed by Parliament, the changes to Regulation and CPD guidelines were still in the process of being drafted.

The finalised guidelines will be released before the commencement date, which has not yet been decided.

The spokesperson also confirmed that NSW Fair Trading has been in conversation with franchise groups and RTOs regarding the reform package, and further consultations are planned as the package is developed.

If any real estate professionals or RTOs have any concerns about the changes or would like their voice heard before the new guidelines are finalised, they can call 13 32 20 and speak to a Fair Trading representative.

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Hannah Blackiston

Hannah Blackiston is the Deputy Editor of Elite Agent and real estate obsessive who splits her time between stalking auctions and lusting over luxury listings. She fell into property journalism 5 years ago and never looked back.

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