Qualifications for Property Agents

Property agents are required, under Division 2, Sections 64-66, of the Act, to have qualifications before conducting a business as a real estate agent, property manager, or general auctioneer, or being employed by a real estate agent, or property manager.

The qualifications are primarily: -

Real estate agent (individual) - two years’ full-time experience as a property manager or property consultant during the previous five years and the prescribed educational qualification of a Diploma in Property (Real Estate) awarded by a registered training organisation.

Please note: The Board has set the following compulsory units to be completed:

BSBFLM505A	Manage operational plan
BSBMGT502A	Manage people performance
BSBFIM501A	Manage budgets and financial plans
BSBMGT506A	Recruit, select and induct staff
CPPDSM4005A	Establish and build client-agency relationships
CPPDSM5009A	Coordinate risk management system in the property industry
CPPDSM5012A	Develop a strategic business plan in the real estate industry
CPPDSM5018A	Ensure a safe workplace in the property industry
CPPDSM5020A	Manage and monitor effective client service in the real estate industry

 

Real estate agent (company) - must have at least one director who is a real estate agent.

Property manager (individual) – must be able to satisfy the Board, by examination or inquiry, that he/she has sufficient knowledge and experience of property management business to be able to carry on that business and for this purpose sufficient knowledge is the Diploma in Property (Real Estate) awarded by a registered training organisation.

Property manager (company) – must have at least one director who is a property manager.

General auctioneer (individual) – must be able to satisfy the Board by examination or inquiry, that he/she has sufficient knowledge and experience of general auctioneering business to be able to carry on that business.

Please note: The Board has set the following compulsory units to be completed:

CPPDSM4002A	Apply knowledge of state or territory legislative framework to complete agency work; and
CPPDSM4004A	Conduct auction; and
CPPDSM4006A	Establish and Manage Agency Trust Accounts; and
CPPDSM4038A	Conduct goods, chattel, or equipment clearing sale or auction; and

an examination set by the Board.

General auctioneer (company) – must have at least one director who is a general auctioneer.

Qualifications for Property Consultants & Assistant Property Managers
Regulation 42 provides that the qualification for a property consultant or assistant property manager is the successful completion of an examination set by the Property Agents Board.

Exam questions are based on the following areas:-

All candidates

Real Estate and Property Management – Basic Concepts
Property Agents and Land Transactions Act 2005 – general understanding
Property Agents and Land Transactions Regulations 2006 (including the Code of Conduct)
Contract Law – Basic concepts
Australian Consumer Law – general understanding
Agency and Property terms and definitions
Trust Accounting – Basic concepts

Property Consultants

Selling – general understanding
Land Titles, Documents, Land Transfer legislation & Forms of Occupancy, land classification
Sales Documentation
Trust Accounting – dealing with funds
Types of agency agreements

Assistant Property Managers

Property Management -general knowledge
Documentation – Management Authority, Residential Tenancy Agreement, Condition Reports,   Inspection Reports
Property Management Processes
Property Investments
Trust Accounting - general understanding