Edition 47, July 2007

CPD changes for NSW property licence and certificate holders

Continuing professional development (CPD) for New South Wales property licence and certificate holders was evaluated in late 2006, and a range of recommendations to improve and simplify the program have been made.

From 1 September 2007, renewal of a licence or certificate of registration under the New South Wales Property, Stock and Business Agents Act 2002 will be conditional on licence and certificate holders undertaking CPD each year.

However, from 2 April 2007, multiple licence holders under the Act are only required to undertake 12 points per year.

CPDis a mechanism for professionalising the industry, promoting high standards, and maintaining public confidence by ensuring that industry participants are continually updating their skills.

It provides industry participants who have general competence with the means for responding effectively to change, adopting new work practices and enriching their knowledge and skills.

The aims of the continuing professional development scheme are to:

  • increase levels of consumer protection
  • promote professionalism across the property agency industry
  • improve the knowledge and skills of practitioners
  • encourage high standards
  • maintain public confidence.

The New South Wales Office of Fair Trading is responsible for the administration and monitoring of the scheme and the Commissioners' Guidelines for Continuing Professional Development for the Property Agency Industry set out the requirements that must be fulfilled by agents in undertaking their continuing professional development.

The guidelines apply to all sectors: real estate agents, strata managing agents, stock and station agents, business agents, buyers agents and residential property managers as well as certificate of registration holders.

For more information visit www.fairtrading.nsw.gov.au/realestaterenting.html  

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