PHOTO: REIA president Malcolm Gunning said in the future there would be two types of real estate agent – those who were members of the professional scheme and those who were outside the scheme.

Real estate agents will have to commit to higher training standards and a new code of ethics, under a proposal by Australia’s peak real estate body.

The Real Estate Institute of Australia (REIA) has applied to the Professional Standards Authority for admission as a profession, with the process expected to be completed by the end of 2019.

If the REIA proposal is accepted, participating real estate agents will have to:

  • Pass “rigorous tests” to become recognised as a ‘professional’ real estate agent
  • Adhere to a code of ethics (and associated “auditable accountability commitments”)
  • Meet ongoing training standards

Real estate agents would no longer be recognised as ‘professional’ agents if they failed to maintain their commitment to ethics and training.

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