New Property Services Commissioner To Regulate The Real Estate Industry

10 Jun 2021 law_and_order

Parliamentary Secretary for the Central Coast Adam Crouch has welcomed the NSW Government’s announcement of a new Property Services Commissioner, which will better protect consumers and improve support for real estate agents.

“The property services industry contributes $100 billion to the NSW economy each year and is a significant employer on the Central Coast, including 2,771 real estate agents, strata managers and auctioneers,” Mr Crouch said.

“We must get the balance right between supporting the industry whilst also ensuring it remains properly monitored.

“Appointing a Commissioner has already proven a huge success in the building industry, and I thank Minister Anderson for listening to my representations and taking the same successful approach.”

The new Commissioner will sit as a member on the Property Services Expert Panel, which was established by the NSW Government earlier this year as a forum for industry to engage with, and provide advice to Government on issues impacting the sector.

Minister for Better Regulation and Innovation Kevin Anderson said the NSW Government would appoint a well-respected industry expert to the role.

“The Commissioner will be responsible for ensuring a strong, vibrant property sector, which is responsive to the needs of property services professionals and ensures the highest compliance and professional standards for the benefits of consumers,” Mr Anderson said.

“We will be tasking the Property Services Expert Panel and the Commissioner with making recommendations to the Government on how we can improve and streamline services delivered to the property services sector and consumers by the regulator NSW Fair Trading.”

The Commissioner will report directly to the Minister for Better Regulation and Innovation, and the recruitment process will begin later this month.