What we really need to do (in NSW) is to copy the model for dealing with builders and homeowners by the Queensland BSA. Their system insures that licenced builders have assets to back them at least (not just a ute and a few power tools). In my experience their systems is at least equitable unlike the one sided system utilised by the Dept of Fair Trading (where the customer is always right- no matter what) or the Home Warranty Scheme which benefits no-one except the insurer, or the Building payments mediation for builders and suppliers which actually costs more to access than the actual claim is worth.
Both "sides" of the argument need to be consulted to create an equitable system that offers protection for the homeowner and the builder. The Buildercheck people have seen a need and are cashing in on it (good luck to them) but they are not solving any problems and can't guarantee that their info is correct (credit rating companies eg. Dunn & Bradstreet don't have a great record for sound record keeping or accuracy and woe betide the individual/company that tries to get them to correct their records as allowed under credit rating regulations)
Obviously I don't know what the answer to this is, but if everyone wrote to their state and federal MP at least we would get more visibility around this issue