REINSW is committed to ensuring NSW remains Australia’s leading state for economic growth and reform in the property services industry. If you want to see the property services industry under the leadership of a Property Services Commissioner rather than Fair Trading then email your politician.
MOVE OUT OF FAIR TRADING
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We no longer want to live with NSW Fair Trading
The property services industry represents more than 37,000 real estate professionals and agency services staff across NSW, and the interests of nearly one million property investors and landlords.
It's time to upsize and improve our conditions
The legislation and regulation governing the property services industry in NSW is outdated and inefficient. It significantly adds to the cost of property transactions and fails to deliver the best outcomes for consumers.
We support:
- Professional standards for real estate agents
- Improved consumer protection
- Reduced barriers to entry for property buyers
- Improved housing affordability and supply
- Adequate representation for investors, landlords and renters
Our key objectives
Move out of Fair Trading
Move property services out of NSW Fair Trading and instate a Property Services Commissioner under the direction of the NSW Department of Premier and Cabinet.
Deliver real stamp duty reform
Deliver stamp duty reform by lobbying Government to update the 30-year-old stamp duty tiers, remove GST from stamp duty and create stamp duty exemptions for over 65s. Find out our much stamp duty is in your suburb.
Train for professionalism
Support the implementation of a Professional Standards Scheme for real estate professionals that delivers improved standards of training.
The property services industry is tired of being the whipping boy of governments and departments.
The “dodgy agent” stereotype so frequently used by this Government is unsupported and inaccurate. It is used to generate media coverage that distracts consumers from Government’s inadequacies.
The property services industry drives the NSW economy and we will fight for improved standards for our members and all property owners across the state.
A few facts of the matter…
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Billion dollar industry
NSW real estate is a $107 billion industry annually* based on the value of residential property sales each year.**
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Year wait for change
Stamp duty tiers in NSW have not been updated for more than 30 years and are based on a median sales price of $300,000.
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Billlion in revenue
Stamp duty contributed $8.4 billion to the NSW economy in the 2018 financial year across 220,313 transactions.
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Typical real estate wage
There are 37,703 real estate agents employed in NSW.‡ A typical agent is a woman in her 30s, working full-time and earning around $58,468, in a job that she juggles with childcare and unpaid domestic duties.
References: * CoreLogic 12 months to August 2018 ; ** ibid; ‡ ABS 2016, https://eliteagent.com/australians-of-real-estate/
How much is stamp duty in your suburb? Find out from the map below.
Note: The value ($) of indexed stamp duty in the map indicates what the stamp duty would be if tiers were indexed since 1986. This should be the minimum. The map data is current as at November 2018.
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Keep up-to-date
For latest updates
Visit REINSW Election 2019 Latest News section for all the latest industry updates.
Media enquiries
For media enquiries,
contact Macrina Lim:
Phone: 0430 547 751
Email: mlim@theideassuite.com.au
General enquiries
For all general enquiries, contact marketing@reinsw.com.au
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