Thinking about working in the real estate industry in Victoria with an Estate Agent Licence? 

There will be new educational requirements to apply for an Estate Agent Licence after the 23rd of October 2020.

Summary

Consumer Affairs Victoria is introducing new education requirements for Estate Agents wanting to work in real estate with a full licence.

Current requirements: 24 units of learning from Certificate IV in Property Services Real Estate CPP40307 and 12 months experience as an Agent’s Representative *plus other eligibility requirements.

Proposed education changes: Two qualifications plus prescribed units: CPP41419 Certificate IV in Real Estate Practice consisting 22 and up to 29 units of learning and a CPP51119 Diploma of Property (Agency Management) and 2 years experience as an Agent Representative required for all Estate Agent Licence applications after the 23rd of October 2020 *plus other eligibility requirements.

  1. If you enrol into the current Estate Agent course – CPP40307 Certificate IV in Property Services (Real Estate) course before October 23rd, 2020 you have up until September 2021 to complete the course and use this educational outcome to gain employment as an Estate Agent until October 2025.
  2. If you hold the current education requirements for an Estate Agent Licence before October 23rd, 2020, it can be used to gain employment in real estate industry in Victoria until October 2025 along with other eligibility requirements.                                
  3. After the 23rd of October, 2020 new enrolments into the new real estate course for an estate agents licence requirements will be in place.

We are currently having a sale on our CPP40307 Certificate IV in Property Services (Real Estate) course for those interested in doing fewer units before the changeover on the 23rd of October. Click here for more info.


Background

The training requirements for estate agents and agent representatives has been under review by the state government of Victoria. The findings have in part indicated that the amount of training a person receives reduces the likelihood of consumer complaints and increases agent professionalism and ethical behaviour. In other words, better for consumers.

Connect Skills Institute supports any move that increases such standards, promotes stronger ethics, strengthening best practice for estate agents, their clients and customers.

How these changes will actually impact the industry remains to be seen.

Please note that the amount of learning is still being decided, but we are presenting the preferred options of the Victorian Government below. We will be updating this blog post as we learn more.

Impacts

Potential negative impacts are:

  • A significant increase in the number of learning units
  • A substantial increase in study time to undertake the course 
  • Increases in course fees impacting course affordability
  • Considerable increase in the time to be gainfully employed in the real estate industry and operate your own business
  • Economic factors and impacts of COVID19

Potential beneficial impacts are:

  • Increase in agents knowledge
  • Reduction in consumer complaints
  • Increasing standards in agency practice 
  • Increased time as an agent representative before becoming an estate agent licensee in charge as a sole trader or Officer in effective control of a corporation

Each personal situation has a different solution.

If you have any further questions please contact me using the form below and book in for a call and I’ll attempt to remove any ambiguity and clarify your situation! 🙂


The information contained in this blog post reflects our opinion of the information available from Consumer Affairs Victoria & Engage Victoria at the date of publication.

More details can be found on the Engage Victoria website:

https://engage.vic.gov.au/real-estate-education-review

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