So… what changes will we see with the industry reforms?
If all goes according to plan then on or about late March 2020 the NSW Department of Fair Trading will introduce substantial reforms to the Property Industry Licensing Requirements. These reforms have been prepared with the support of large parts of the Industry and after much consultation. The resultant categories may change prior to March this year but so far this in a nutshell is what to expect.
Licence Categories will Change– there will be new categories and new Category Titles
Class 1 Licence (Licensee in Charge) (Stock and Station,Real Estate, Strata Management) will have certain requirements ( when Reforms are introduced).
Class 2 Licence (Real Estate,Stock and Station,Dual Real Estate and Stock and Station, Strata Management) under the reforms there will be certain requirements for new Licensees after the Reforms come in.
Agent or an On Site Residential Property Managers Licence you will be granted a Restricted Real Estate Licence (restricted to your specific specialty area).
Assistant Agent (Currently Certificate of Registration) (Real Estate and Stock and Station, Strata Management) there will be restrictions applied to this category after the Reforms commence.
Continuing Professional Development (CPD) Changes
There will be changes to the mandatory CPD requirements to continue to qualify for a Licence with the assessment qualified in hours of compulsory CPD topics.
There will be other changes all of which will be posted when relevant.
So the take away from these changes?? If you are licensed now but need to upgrade your qualifications then to do so before March could be a very smart move.
For further accurate information on the proposed changes take a look at the website for Australian College of Professionals – http://www.acop.edu.au
The above is a very small precis of the information they have put together . For further information or a conversation just contact me as below or take a look at the ACOP website which is a great source of information on industry changes and training resources.
To contact me anytime for a no obligation chat :
Qualified Senior Trainer and Assessor
0418 828 782 or