What’s the difference between A Certificate of Registration and Real Estate Licence?
At RETS we are often asked about the difference between real estate registration and real estate licence.
The best way to look at this is the registration course is entry level, whilst the licence course is at a management/business owner level.
Before anyone can work in a sales or property management role in a real estate agency, they must be registered with Fair Trading NSW. Amongst other eligibility requirements, NSW Fair Trading require completion of a competency- based course.
The Certificate of Registration is the entry level real estate course. It comprises four (4) units of competency which are the mandatory units for entry into the real estate profession.
Once the registration course is completed, you can apply to NSW Fair Trading for registration to work in the property industry. Applicants must be at least 16 years of age. As a certificate of registration holder, you can work as a salesperson, sales assistant, property manager or property officer. You work under the supervision of an agency licensee.
If you want to open your own agency, you require a real estate licence. Applicants for a licence must be at least 18 years of age. The licensing course consists of 24 units of competency (3 of which are in the Registration Course).
A licensee of a real estate agency is responsible for the supervision of their business. The licensee who owns the business also remains accountable for the actions of employees. Proper supervision includes:
- supervision of employees engaged in the business,
- establishment of procedures designed to ensure that the provisions of the Property Stock and Business Agents Act 2002 and Regulation 2014 and other relevant laws are complied with, and
- monitoring the conduct of the business to ensure that those procedures are followed.
If a licensee does not properly supervise their business their licence to operate a real estate agency can be cancelled.