New laws were proposed in parliament to allow the Property Agents and Motor Dealers Act 2000 to cater to industry needs better.

The new laws are expected to come into effect mid-2011 and will pave the way for the Council of Australian Governments' National Occupational Licensing System for property agents in 2012

Fair Trading Minister Peter Lawlor said the move was designed to enhance industry understanding of the legislation and the way it regulates their interests, at the same time as increasing consumer confidence in the property, car, auction and commercial agents industries. He said, "After extensive consultation with the property, car, auction and commercial agents industries, the Act has been converted into four Bills which would be specific to each industry."

The Property Agents Bill 2010 provides for a property agent license for real estate agents, pastoral houses and auctioneers of real property and a resident letting agent license. The Motor Dealers and Chattel Auctioneers Bill 2010 will license motor dealers and chattel auctioneers. The Commercial Agents Bill 2010 will license and regulate commercial agents for debt collection, repossession, and writ and summons agents.

The Agents Financial Administration Bill 2010 replicates the current provisions on administration of trust accounts and the claim fund.