The Real Estate Institute of Queensland has called on the State Government to introduce mandatory CPD to the real estate profession.
REIQ Chairman Rob Honeycombe said they want the State Government to honour its more than two-year-old promise to introduce mandatory CPD.
“Queenslanders are staring down the barrel of another election and before our politicians start wheeling out more promises, we’re asking them to deliver on the promises they’ve already made,” Mr Honeycombe said.
Minister for State Development and Minister for Natural Resources and Mines Anthony Lynham spoke at the REIQ Awards for Excellence before 600 real estate professionals and gave a public commitment that the Palaszczuk Labor Government would introduce this important consumer protection measure in its first term.
Treasurer Curtis Pitt also agreed that this was “a no brainer” and gave the REIQ a firm commitment that mandatory CPD would be introduced.
“More than 50,000 Queenslanders work in real estate and the profession would benefit significantly from increased levels of consumer protection and trust that this measure would bring,” Mr Honeycombe said.
“Lawyers, accountants and financial planners all handle people’s personal wealth and must undertake ongoing CPD – why should real estate be any different?
REIQ CEO Antonia Mercorella and Chairman Rob Honeycombe have also met with all independent MPs and garnered every cross-bencher’s support.
“We’ve met personally with every independent and we have ironclad support for introducing mandatory CPD to the real estate profession,” Mr Honeycombe said.
“In addition, we have spoken with Opposition Government and we know this is an issue that has bipartisan support,” he added.
The REIQ says that mandatory CPD would bring Queensland into line with other states, where minimum education requirements ensure every real estate practitioner must maintain their professional knowledge every year to retain their license to operate.
The proposed model would also bring all Queensland real estate practitioners up to the same professional standard that is currently met by REIQ members. Under the proposed model, any RTO can deliver the CPD training.
“Our members complete 100 points of CPD training every year and this helps to ensure their professional knowledge about the legislation and the rules that govern this sector is up to date.
“Consumers need to know that the person handling their largest asset, the source of their personal wealth, is trained and, importantly, spends time maintaining their professional knowledge every year,” Mr Honeycombe said.
The key principles of the model proposed by REIQ include registered sales persons and licensed agents to complete a certain number of points by taking four mandatory units and six elective point units; with mandatory units being determined each year in consultation with the REIQ, the OFT and other relevant entities. Mandatory units would focus on risk management, compliance, and consumer protection issues. The REIQ would be responsible for conducting CPD audits on an annual basis on behalf of the Office of Fair Trading and providing makeup training if there is a shortfall in compliance.
