Recent reforms 

After much consultation and feedback from many different stakeholders Fair Trading NSW implemented the much hyped changes to the training/licensing and regulatory regime. The changes represent a major shift towards increased training and tighter regulation in the property industry. 

The reforms will prevent new entrants from obtaining a real estate licence with one of the requirements to now obtain a real estate licence being a minimum of 12 months of experience as an Assistant Agent (Certificate of Registration) and the completion of a log book by the agency principal employing the Assistant Agent.

 

The introduction of a class 1 and class 2 licence increases the training required to manage a real estate agency to Diploma level (Class 1 licence) and 2 years holding a real estate licence.

 

CPD for licence holders and  


 

Key changes include;

  • Introduction of minimum industry time frames for licensing

  • New licensing hierarchy 

  • Consolidation of licensing categories

  • Restriction of duties fro certificate holders 

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