Starting July 1, 2024, NSW is introducing updated regulations for real estate, strata, and stock & station agents. The key changes are:

Supervision Guidelines: These outline stricter requirements for how agencies oversee their operations, ensuring legal compliance, ethical conduct, and preventing fraud. This means agency leaders will have increased responsibility to supervise their staff and maintain high professional standards.

Continuing Professional Development (CPD): Agents will need to complete at least five hours of training per year, covering four mandatory topics specific to their license type. This ensures agents stay up-to-date with industry knowledge and best practices, improving the quality of service they provide.

Purpose: These changes aim to raise the bar for professionalism and accountability in the industry. By enforcing stricter supervision and requiring ongoing training, NSW aims to protect consumers and ensure a higher standard of service across real estate, strata management, and stock & station agencies.

More information: You can find detailed information about the updated Supervision Guidelines and CPD requirements on this page of the NSW Fair Trading website.