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Cooperation collapses between NSW Fair Trading and Real Estate Institute of New South Wales


Until last week, the Real Estate Institute of New South Wales was part of an expert forum dedicated to branching the gap between the government and the real estate sector – with a resignation letter and scathing comments from REINSW chief executive Tim McKibbin, this bridge is no more.

The reasons given for this resignation are various. It is alleged that NSW Fair Trading ignored the input of industry experts, gave little notice and information on the introduction of a rental reform bill and the scrapping of auctioneer licenses, and delayed training and education reforms extensively.

“They put us in a forum; that essentially gave us the impression we were being listened to and we were being worked with,” Mr McKibbin said to Domain. “I feel extremely conned and feel they essentially gave me some colouring-in pencils and told me to sit in the corner.”

“We met quite regularly but we did not achieve really anything in three and a half years,” he said, alleging that Fair Trading “come to these things with the view that they know what they’re doing and they don’t.

“They got us along and we had minutes and meetings and agendas, and we were completely ignored, so the risk of [now] being outside of the conversation is minuscule in my view.”

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With New South Wales’ largest real estate body now disconnected from NSW Fair Trading, it will take significant change for the gap between the real estate sector and government regulator to do anything but widen.

Source: www.domain.com.au