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In July 2008, the Council of Australian Governments (COAG) agreed to establish a national licensing arrangement for seven occupational areas, including the building and property sector licensing, with respect to builders, property agents, conveyancers and valuers. The aim of these reforms is to establish a more uniform licensing system within these jurisdictions. Currently, these licensing requirements are managed under the auspices of individual state and territory Offices of Fair Trading. However, despite uniformity in the choice of regulator, the licensing provisions themselves are not uniformly designed, or enforced. For example, in New South Wales, the regulation of property agency is part of the Property Stock and Business Agents Act 2002, and the associated regulations. The purpose of this research paper is to analyse the different State and Territory laws and regulations applicable to the educational requirements for property agency licensing and to explore appropriate governance requirements for a uniform model of educational qualifications. The paper uses regulatory theory applications to evaluate the current educational requirements for the property licensing systems operating within Australia. It is argued that a national model for educational qualifications for licensing is feasible; however, transitional rules will need to be implemented to allow each jurisdiction the opportunity to phase-in the recommended changes gradually.
This document has been peer reviewed.