REIV calls for education for agents as authorities probe underquoting complaints

VICTORIA’S peak real estate body wants education standards lifted for agents to combat underquoting.

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VICTORIA’S peak real estate body wants education standards lifted for agents to combat underquoting.

The Real Estate Institute of Victoria believes it is too easy to qualify as an agent and this is leading to “poor price quoting”.

“We currently have a situation in this state where a Certificate III is all that is required to sell

or manage real estate,” REIV chief executive Enzo Raimondo said.

“This is the same level as that required to work in hospitality as a waiter or barista.”

Mr Raimondo said some registered training organisations offered Certificate IV courses that turned out fully licensed agents in just five days.

“These fast-tracked courses are clearly impacting on the industry, and creating poorly

trained, inadequately qualified real estate agents,” he said.

“The agents receiving this training are a significant threat to consumers.”

The REIV will this week survey its members about underquoting and the regulations and practices of price quoting. The feedback will help shape changes to the REIV’s price quoting guidelines.

It comes as Consumer Affairs Victoria reviews the state’s consumer property laws and pursues several major investigations across the state.

This month the watchdog took a Richmond agency to court over underquoting allegations.

The state government review into consumer property laws is accepting submissions until March 11.

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