The new ‘Name and Shame’ List run by NSW Fair Trading publishes enforcement actions such as fines, licence suspensions and cancellations against real estate agents, property managers and strata managing agents in one easy-to-search place.
It is the latest in a range of tools and reforms the Government is aiming to give consumers clarity and confidence when choosing a real estate agent, and to hold licence holders accountable for serious or repeated breaches of the law.
To ensure NSW consumers have access to up-to-date information in one place, the list also includes public warnings issued to protect consumers from high-risk traders, enforceable undertakings and prosecution outcomes.
Key information such as a trader’s name, ABN or ACN, licence number and suburb are listed, as well as a clear description of the type of action taken by NSW Fair Trading and the reason for doing so.
Last financial year, NSW Fair Trading undertook nearly 500 investigations and more than 300 inspections in the property and rental sector. It issued over 300 penalty notices worth more than $430,000, and carried out significant licensing actions including cancellations, suspensions and disqualifications.
Backed by an $8.4M investment, the newly established Strata and Property Services Taskforce has also placed additional inspectors in the field.
Together, they have completed more than 186 Anytime, Anywhere inspections with a focus on maintaining compliance standards across the property sector.
Public warnings, licence cancellations, disqualifications, or suspensions appear on the List from the date they take effect, enforceable undertakings from their commencement date and fines and prosecution outcomes after relevant appeal periods have ended.
This tool follows the Government’s proposed slate of reforms to the state’s underquoting laws. Subject to consultation, the legislative changes will significantly increase penalties for misleading price estimates to $110,000 or three times the agent’s commission (whichever is greater), mandate a price or price guide on all advertising, and require agents to publish a Statement of Information to help prospective buyers understand how the selling price was calculated.
Together, these steps play an important role in the Government’s moves to lift professional standards across the real estate sector, improve transparency in property and boost buyer confidence.
https://www.nsw.gov.au/departments-and-agencies/fair-trading/how-we-regulate/name-and-shame-register
CEO of the Consumer Policy Research Centre Erin Turner said the new tools is a practical and helpful step for renters, buyers and homeowners.
“For renters in particular, choosing an agent isn’t a level playing field, and this kind of transparency helps people spot red flags early, instead of discovering problems once they’re locked into a lease,” she said.
“CPRC's national research into consumer regulation has shown that NSW Fair Trading is already ahead in publishing enforcement and complaints data. Bringing this information into an easy-to-search list makes it an even more powerful regulatory tool.”
