Fair trading real estate requirements

In order to legally perform the duties of a real estate agent, auctioneer, resident letting agent, salesperson, or property manager (and many other roles in real estate), individuals must meet the fair trading real estate requirements and hold a registration certificate or real estate licence.

This involves completing the required training and meeting certain eligibility and suitability requirements stipulated by the Office of Fair Trading. It is essential that an individual does not undertake any of the activities involved in appraising, listing, showing, renting, or selling real estate while unlicensed or unregistered, and doesn't make any representations to the public regarding properties.

The information below is taken directly from www.fairtrading.qld.gov.au. Students are recommended to contact the Office of Fair Trading directly to confirm their eligibility for a Registration or Licence.

Licence eligibility

To be eligible for a fair trading real estate agent licence, an individual must:

• be 18 years or over,
• be a suitable person,
• have at least one place of business in Queensland, and
• have completed the required training units* through a registered training organisation.

*IMPORTANT: The Office of Fair Trading (OFT) has released new training requirements for the real estate industry. As of 30 September 2021, the current training requirements will be superseded and replaced by a new property services training package - CPP41419 Certificate IV in Real Estate Practice.

The current training package will only be accepted for a license with the Office of Fair Trading (OFT) until 30 September 2021. If this deadline is not met, you will NOT be eligible for a licence and will need to re-train under the new training package at your own cost.

An individual is considered suitable if they:

- are not bankrupt,

- have not been convicted in the previous five years of a serious offence which is punishable by three or more years imprisonment, such as:

• fraud and dishonesty,
• drug trafficking,
• extortion,
• arson,
• unlawful stalking,
• violence or the threat of using violence, or
• any offence of a sexual nature,

- are not disqualified from holding a licence or registration certificate, and

- are not recorded in the register of disqualified company directors under the Corporations Act 2001.

Non-Australian citizens need to provide an international passport to complete the check on their working visas. The visa must state that they can work in Australia. They must also provide written advice from the Department of Immigration and Citizenship to explain any conditions on their visa.

Registration certificate eligibility

To be eligible for a fair trading real estate salesperson certificate, an individual must:

• be 18 years or over,
• be a suitable person, and
• have completed the required training units* through a registered training organisation.

*IMPORTANT: The Office of Fair Trading (OFT) has released new training requirements for the real estate industry. As of 30 September 2021, the current training requirements will be superseded and replaced by a new property services training package - CPP41419 Certificate IV in Real Estate Practice.

The current training package will only be accepted for a registration with the Office of Fair Trading until 30 September 2021. If this deadline is not met, you will NOT be eligible for a registration and will need to re-train under the new training package at your own cost.

An individual is considered suitable if they:

- have not been convicted in the previous five years of a serious offence which is punishable by three or more years imprisonment, such as:

• fraud and dishonesty,
• drug trafficking,
• extortion,
• arson,
• unlawful stalking,
• violence or threat of using violence, or
• any offence of a sexual nature.

- are not disqualified from holding a licence or registration certificate, and - are not recorded in the register of disqualified company directors under the Corporations Act 2001.

Non-Australian citizens need to provide an international passport to complete the check on their working visas. The visa must state that they can work in Australia. They must also provide written advice from the Department of Immigration and Citizenship to explain any conditions on their visa.

An individual affected by bankruptcy action must also supply:

• a description of the circumstances that caused them to go into bankruptcy (if they were involved in a business, they must advise the type of business) and a description of the steps taken by them to avoid going into bankruptcy,
• a list of creditors and amounts owing to each creditor,
• confirmation of whether any charges were laid against them in regard to the bankruptcy, and
• a letter from their employer, on the employer's letterhead, outlining their role within the business and whether they would be in a position to influence the management of the licensee's business.

REIQ's Licensing Training

If you meet the fair trading requirements for a real estate registration or licence, you can study with the REIQ and get the best possible start to your career. The licensing training you can receive from the REIQ will prepare you for the real estate industry and give you the best chance at success from the moment you complete your course. With teachers who have years of real estate experience behind them, you will learn from industry experts as you make your way through your course.

Options are available for both face-to-face and online learning so no matter where you are, you will be able to find a course that suits your needs. Student support is also available from the moment you start your course and all you have to do is pick up the phone to speak to a friendly REIQ team member.

If you choose to complete a registration course, you will complete 12 units of competency and will have 6 months to finish this learning. Upon the successful completion of this course, you'll receive a statement of attainment to register as a real estate salesperson with the Office of Fair Trading. If you choose this option and wish to upgrade your qualifications at a later time, the REIQ also offers a fair trading licence upgrade course.

The other option is to complete the full licence course, which is made up of 19 units of competency and must be completed within 12 months. Once completed, you'll receive a statement of attainment and CPP41419 Certificate IV in Real Estate Practice and will be eligible to apply for a real estate agent licence with the Office of Fair Trading.

Whether you're interested in a full licence or a registration course, the REIQ has what you need to meet the fair trading requirements and start your real estate career.

For more information, please visit the Office of Fair Trading's web page that details more information on obtaining a property industry licence or registration.

Important disclaimer: This article is provided for general information only, and the author is not engaged to render professional advice or services through this article. Readers should satisfy themselves as to the correctness, relevance, and applicability of any of the above content, and should not act on any of it in respect of any specific problem or generally without first obtaining their own independent professional legal advice.