More than two and a half years in the making, REINSW Training Manager Nerida Wood said the comprehensive review of the Real Estate Training Package has resulted in more robust qualifications for our industry.
“The new package focuses on knowledge, as well as skills,” she said. “The package we’ve been working under until now has largely focused on skills, rather than the foundation knowledge that agents need to underpin those skills. And all units of competency will now have ethics and compliance as a core component of the learning.”
“This is a really positive step forward.”
Real Estate Training Package
The Real Estate Training Package sets out the training requirements for real estate qualifications across Australia.
“NSW Fair Trading applies the package for the purposes of specifying the units of competency required to attain a Certificate of Registration or Real Estate Licence in New South Wales,” Nerida explained.
“Training providers, such as REINSW, must then ensure that the units of competency specified by Fair Trading are covered in the delivery and assessment of the qualification courses they offer.”
Impact on training reforms
The new Real Estate Training Package is the missing piece of the puzzle when it comes to the long-awaited implementation of landmark training reforms in New South Wales.
“The training reforms were passed by NSW Parliament back in March 2018 and were originally slated for progressive implementation from 1 July 2018,” Nerida said. “That timeline was delayed and, to date, we’ve received little clarification from NSW Fair Trading about revised timelines.
“But, with the transition period for the new package coming to an end, we now have a final deadline for implementation of the reforms.”
The units of competency required by NSW Fair Trading to attain a Certificate of Registration or Real Estate Licence fall under the current package, not the new package.
“With the end of the transition period for the new Real Estate Training Package on 20 March 2020, those units of competency will no longer exist and can’t be trained or assessed after that date,” Nerida said. “This means Fair Trading will need to change the units of competency required to attain a Certificate or Licence, so they meet the requirements of the new package.
“It effectively forces their hand in terms of implementing the training reforms. From 20 March 2020, REINSW (and all other training providers) must train the units of competency under the new training package. So if Fair Trading don’t update the units of competency to the new package and implement the training reforms, it means prospective new entrants to the industry will not be able to attain their Certificate or Licence.”
Start now
To those real estate agents who don’t currently have a Real Estate Licence, Nerida said “do it now.”
“There is a completely new structure for units of competency under the new Real Estate Training Package,” she said. “The qualifications are more rigorous and in-depth, and are not equivalent to the current qualifications. While there are fewer units of competency in the new qualifications, the time required to complete the training and assessment will be longer.”
Nerida explained that, under the training reforms, all real estate agents will be required to transition to their Real Estate Licence.
“Soon it will no longer be an option to hold a Certificate of Registration for your entire career,” she said. “You’ll be required to transition to your Real Estate Licence within a defined period. If you don’t, you’ll lose your Certificate and be excluded from the real estate industry for 12 months.
“By transitioning to a Real Estate Licence before the commencement of the new Real Estate Training Package, it will be a more straightforward process to have current studies, skills and experience recognised.”
Nerida said agents need to understand the impact of the training reforms and changes to the Real Estate Training Package.
“It’s vitally important for everyone in the industry to ensure they’re up to date with the changes, so they’re not left behind.
“REINSW will be with you every step of the way.”
“The package we’ve been working under to now has largely focused on skills, rather than the foundation knowledge that agents need to underpin those skills. This is a really positive step forward.” – Nerida Wood, REINSW Training Manager
CPP31519 Certificate III in Real Estate Practice
Who? New entrants to the real estate industry who are working in a purely administrative role.
Result? Completion does not allow you to apply to NSW Fair Trading for a Certificate of Registration. To do so, additional units must be completed.
Learning? Broad areas of training include:
- Personal work priorities and team work
- Communicating with clients
- Legislation and compliance
- Work health and safety
- Assist in property management
- Assist in property sales
Time? Up to 12 months to complete
CPP41419 Certificate IV in Real Estate Practice
Who? Anyone who wants to work as an agent in the real estate industry.
Result? Completion allows you to apply to NSW Fair Trading for a Real Estate Licence. All agents will be required to transition from a Certificate of Registration to a Real Estate Licence in the future.
Learning? Broad areas of training include:
- Professional practice
- Legislation and compliance
- Marketing and communication
- Property marketing
- Property appraisal
- Property sales
- Property management
- Trust accounting
Note: The units of competency required to attain a Certificate of Registration are included in the Certificate IV and are completed first.
Time? Up to 12-18 months
CPP51119 Diploma of Property (Agency Management)
Who? Anyone who wants to run their own agency or be a Licensee-in-charge.
Result? Completion allows you to apply to NSW Fair Trading for a Licence to be a Licensee-in-charge.
Learning? Broad areas of training include:
- Compliance and ethics
- Effective workplace management
- Business planning
- Marketing and customer service
- Managing a safe workplace
Time? 12-18 months (depending on experience)
Talk to REINSW today about gaining your Real Estate Licence.
Or call us today on: 02 9264 2343 or email: [email protected]
Want more?