The reforms to the Property, Stock and Business Agents Amendment (Property Industry Reform) Bill 2017 will affect licensing and qualifications, the roles that can be undertaken at different levels of qualification and Continuing Professional Development (CPD) requirements.
It was anticipated that the new CPD regime would start from 1 July 2018 however this date has been deferred as the regulations are required before a timeline can be proposed.
The regulations are currently being drafted in consultation with the Real Estate Reference Group, of which SCA (NSW) is a member.The timeline for implementation will be guided by these regulations and discussions.
The final changes will be written into the regulations and we will keep you updated and guide you through this transition as further changes become confirmed and definite.