• Pathway to professionalism the right move for real estate

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    Author: REIWA President Hayden Groves

    Real estate agents play a vital role in our community, bridging the gap between buyers and sellers and ensuring all the legal components of a transaction are adhered to.

    On top of this, they provide expert advice, insight and local market knowledge that comes from being a valuable part of a community.

    Choosing to sell your home without hiring a licensed real estate agent is risky. Property transactions are complicated and can easily go wrong if you’re not an expert. Licensed real estate agents are important in ensuring your transaction is processed smoothly, taking much of the responsibility of ensuring both buyer and seller meet their commitments under the sale contract.

    Striving for professionalism

    As it currently stands, real estate is not recognised as a ‘profession’ in Australia. Technically, it remains an ‘industry’. The Real Estate Institute of Australia (REIA), with support from the state institutes (including REIWA), are making an application to the Professional Standards Authority to change this.

    We believe it’s important for real estate to shift from an ‘industry’ to a ‘profession’ for the benefit of all.

    Formalising real estate as a profession will reap numerous benefits for the general public. First and foremost, it will raise the standards of knowledge, education, training, competency and customer experience across the entire industry, ensuring people who hire real estate agents receive a first-class service experience.

    Australian consumers are increasingly demanding more from businesses. It’s important we are proactive in ensuring the bar is raised in real estate to deliver on both current and emerging expectations. The shift from ‘industry’ to ‘profession’ is a vital component of improving the real estate practitioner’s standing in the community, improving standards and cementing the agent’s position as trusted advisors of real estate practice.

    Achieving the goal by 2020

    Achieving formal recognition of real estate as a ‘profession’ will not happen overnight. It is going to take time, energy and dedication, but REIA and all the national institutes are very committed to the process.

    The application requires the completion of four distinct phases, of which phase one is now complete and phase two is underway.

    Real estate is on the pathway to professionalism and REIWA will be working closely with all the national bodies over the coming years to achieve our collective goal of attaining recognition as a profession by December 2020.

    Find and compare local WA real estate agents with reiwa.com AgentFinder.