Edition 58, July 2008

NSW reviews qualifications for property industry licensing

The New South Wales Office of Fair Trading is reviewing the proposed revised qualification requirements for people wishing to be licensed as property agents in New South Wales.

Following endorsement of the new Property Services Training Package (CPP07), which has been designed to enable regulators to align with licensing requirements, the New South Wales Office of Fair Trading has undertaken an assessment of the package against current qualification requirements.

The assessment covers the following different property agent license categories:

  • Real Estate Agents Licence
  • Stock And Station Agents Licence
  • Business Agents Licence
  • Real Estate Agent Restricted To Acting Only As A Buyer's Agent
  • On-Site Residential Property Manager's Licence
  • Certificate Of Registration - Real Estate Salesperson
  • Certificate Of Registration - Stock And Station Salesperson
  • Certificate Of Registration - Business Salesperson
  • Certificate Of Registration - Strata Manager Or Community Manager
  • Certificate Of Registration As A Registered On-Site Residential Property Manager.

A number of units of competency have been identified as forming the basis of the minimum requirement for the different property agent license categories.

In proposing the new qualification requirements the Office of Fair Trading has applied the following guidelines:

  • requirements for competence in particular aspects of agency work should relate strongly to a regulated real estate function
  • requirements should reflect areas of identified risk to the public
  • the requirements should, through training and competency based assessment, address the specified risk to the public.

To ensure consistency of delivery and assessment, it is proposed that implementation guides to be developed by the Department of Education and Training for CCP07 be made mandatory for all registered training organisations delivering training for real estate licensing and certificate of registration applicants.

It is proposed that implementation guides will assist the New South Wales Vocational Education Training Advisory Board (VETAB) to conduct audits for Australian Quality Training Framework Standards. The guides will also assist auditors to confirm a registered training organisation's compliance with the endorsed industry standards and Fair Trading's requirements for Certificate of Registration and Agency Licensing.

To review or download the proposed qualification requirements for property agents visit www.fairtrading.nsw.gov.au/About_us/Legislation/Comment_on_proposed_legislation.html

This page was generated on 05 January, 2010

Tag cloud Tags: property,real estate,NSW. Click here to view the tag cloud.