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HOW TO BECOME A REAL ESTATE AGENT IN NSW
A real estate agent acts on behalf of their clients to sell, buy, lease or manage property. The property can be residential, industrial, commercial or vacant land. In order to qualify as an entry level real estate agent in NSW you must hold a Certificate of Registration. To obtain a Certificate of Registration you must complete a Statement of Attainment course through a Registered Training Organisation (like RETS). If you wish to operate your own real estate agency, you will need to become a Licencee, by completing a real estate licensing course and lodging your application with the regulatory body in your state.
To become a real estate agent in NSW, you need to complete the Certificate of Registration as the entry level short course. It is comprised of four units of study, and upon completion and receipt of your Statement of Attainment, you can apply to NSW Fair Trading for registration to work in the industry. This must be done prior to commencing work in the sector. You will need to satisfy certain NSW Fair Trading criteria.
The four units for study for your entry level qualification are:
Units of Study for Certificate of Registration:
CPPDSM4080A - Work in the real estate industry
CPPDSM4007A - Identify legal and ethical requirements of property management to complete agency work
CPPDSM4008A - Identify legal and ethical requirements of property sales to complete agency work
CPPDSM3019 - Communicate with clients in the property industry
To become a Real Estate Agency Licencee in NSW must undertake your Real Estate Licence. The course involves 24 units of study which comprises five core units and 19 elective units. It is advisable to have prior experience in the Real Estate Industry before attempting this course. You will need access to a real estate office to complete your assessment tasks. If you have experience working in real estate, or related business, you may also be eligible to receive Recognition of Prior Learning (RPL). Once you have completed the course you will need to apply to NSW Fair Trading for a l licence, where you will need to satisfy certain criteria.
Units of study for Real Estate Licence
CPPDSM4080A Work in the real estate industry
CPPDSM4007A Identify legal and ethical requirements of property management to complete agency work
CPPDSM4008A Identify legal and ethical requirements of property sales to complete agency work
CPPDSM4009B Interpret legislation to complete agency work
CPPDSM4015B Minimise agency and consumer risk
CPPDSM4003A Appraise property
CPPDSM4004A Conduct auction
CPPDSM4005A Establish and build client–agency relationships
CPPDSM4006A Establish and manage agency trust accounts
CPPDSM4010A Lease property
CPPDSM4011A List property for lease
CPPDSM4012A List property for sale
CPPDSM4013A Market property for lease
CPPDSM4014A Market property for sale
CPPDSM4016A Monitor and manage lease or tenancy agreement
CPPDSM4017A Negotiate effectively in property transactions
CPPDSM4019A Prepare for auction and complete sale
CPPDSM4020A Present at tribunals
CPPDSM4022A Sell and finalise the sale of property by private treaty
CPPDSM4049A Implement maintenance plan for managed properties
CPPDSM4056A Manage conflict and disputes in the property industry
BSBRKG304 Maintain business records
BSBSMB406 Manage small business finances
BSBLED401 Develop teams and individuals
Criteria to meet for NSW Fair Trading to grant a Real Estate Licence:
When applying with NSW Fair Trading all applicants for a personal licence must satisfy the Commissioner for Fair Trading that he/she:
- is at least 18 years of age
- is a fit and proper person to hold a licence. Any person in partnership with a licencee in a property agency must also be a fit and proper person
- has the qualifications required for the licence
- is not a disqualified person
- has paid the relevant contribution to the Property Services Compensation Fund.
For more information on the NSW Fair Trading licence requirements go to www.fairtrading.nsw.gov.au
With a Certificate of Registration, you can perform most of the same duties as a fully licenced Agent but you must be employed by an Agent or Principal. In other words, you can list, sell, appraise property, rent and market property.
There are plenty of opportunities to choose interesting areas of specialisation. Some of the jobs you might undertake as an agent include:
Salesperson selling property on behalf of vendors
- Property Manager looking after rental properties on behalf of landlords
- Buyer’s Agent - looking for available properties for buyers. You will need to complete a Buyer’s Agent’s Licence course too
- Office Manager or support staff in a Real Estate Office
With a full Real Estate Licence, you may also choose to become:
- The Principal or Owner of a real estate agency
- An Auctioneer - conducting public sales of property (with auction accreditation)
When you sign up to undertake either the Certificate of Registration or the Real Estate Licence with RETS you will be assigned a tutor who can help and assist you with any questions you have during the course. Your tutor is available by phone or email.
Recognition of Prior Learning
Recognition of Prior Learning (RPL) is a form of assessment that acknowledges the full range of an individual's skills and knowledge, irrespective of how they have been acquired. These skills may map across to the competency units. If you feel you may be eligible for RPL contact RETS .
To get started in the sector enrol in your Certificate of Registration course today - Enrol Now