The announcement last week that NSW is searching for a Property Services Commissioner to fill a newly-created role could be seen either as an indication that real estate in NSW is in turmoil or that problems are finally being fixed. Or both.

Minister for Better Regulation and Innovation Kevin Anderson says the new commissioner will join the recently-announced Property Services Expert Panel and is “the next step in the NSW government’s commitment to restoring public confidence in the industry” which employs more than 37,000 people and contributes $100 billion to the NSW economy.