Confused by the New Real Estate Training Package? REIQ has the Answers
Confused by the mass of information being circulated about the new real estate training package – and not sure if you have all the information? Be confused no more. The REIQ has all of your questions covered with our insightful Q&As.
Q: Why was the training package changed?
A: The real estate training package is reviewed every five to seven years to reflect the changes, progress and modernisation that occurs in the industry. Old units of competency that are no longer relevant are removed, and new units are introduced that are more relevant to today’s market trends.
Q: How does it affect me as a Real Estate professional?
A: Real estate professionals with a current Registration or Licence will not need to retrain under the new training package whilst their existing Registration or Licence remains valid. If they lapse, you will need to retrain.
Q: How does this affect me as a new student wanting to enter the industry?
A: The REIQ no longer accepts enrolments into the old qualification. As of 29 April 2021, you can now enrol into the new property services training package – CPP41419 Certificate IV in Real Estate Practice.
The REIQ was among the first to offer the following courses under the new training package, which includes:
- Registration – your entry into the real estate industry, enabling you to work for a principal/licensee
- Licence Upgrade – move up from registration to become an independent contractor or own your own real estate business
- Full licence – the full package in one, enabling you to work as a salesperson, property manager, operate as an independent contractor or own your own real estate business
Q: How does it affect me as an existing student?
A: As of 30 September 2021, the old training requirements will be superseded and replaced by the new property services training package. If you are a student enrolled with REIQ under the old qualification CPP40307 – Certificate IV in Property Services (Real Estate) – you will need to complete and submit all assessments to REIQ by 1 August 2021 to allow time for certificates and qualifications to be issued.
If the deadline is not met, students will not be eligible for a Licence or Registration and will need to re-train under the new training package at their own cost. This applies to existing students in 2021 and students as far back as 2009 that may have never applied for their Licence or Registration with the Office of Fair Trading (OFT).
Q: Why are other Registered Training Organisations still taking enrolments into the superseded qualification?
A: REIQ has chosen to cut off new enrolments into the old training package in April 2020 to allow students with an adequate amount of time to complete the course and apply for their Registration or Licence before the OFT deadline. Students choosing to enrol into the old training package with another organisation after this date should be mindful of their limited study window between now and 30 September 2021.
Q: What are my options if I have a Registration under the old training package and I want to upgrade to a Full Licence?
A: Units from the old training package are not equivalent to the new training package. You will either need to retrain for a Registration or you will need to apply for recognition of prior learning (RPL) for your existing Registration competencies, where partial or full credit can be granted for learning previously done through structured or unstructured training, work experience, or by some other means.
The REIQ encourages participants to apply for RPL where they think they may have sufficient evidence to demonstrate competence in a unit (or components of a unit) without having to undertake formal training. Students must be able to show throughout this assessment process that their knowledge and skills are up-to-date and can be applied today. Note: To qualify for RPL you must be currently practicing or have practiced in the last two years to ensure your RPL evidence is current.
At the REIQ, RPL is now required to do the upgrade course under the new training package.
Q: Can I enrol in single units or additional streams through REIQ now?
Currently, the REIQ is only offering enrolment into the Registration, Upgrade and Full Licence Courses with additional streams and courses to become available in the second half of 2021. You can join a wait list to find out when the following courses will become available:
- Certificate IV in Real Estate Practice
- Diploma of Property (Agency Management)
- Resident Letting Agent (RLA)
- Real Estate Auctioneer
- Affordable Housing
Q: How long do you have to complete a Registration Course under the new training package?
A: The new Registration course is made up of 12 units of competency. You have up to six months to complete the course, during which time you can access your course content wherever and whenever you want.
Q: How long do you have to complete a Full Licence Course under the new training package?
A: The new Full Licence course is made up of 19 units of competency. You have up to 12 months to complete the course, during which time you can access your course content wherever and whenever you want.
Q: Why is the new training package more expensive?
A: The cost has changed due to the number of units in each respective course changing. This has directly influenced the number of assessments within each course and hence the time it takes assessors to review each student’s course work.
If you have further questions, please contact us.
Listen to the REIQ’s Property Brief podcast, where REIQ Trainer and Assessor Rachael Wilschefski talks about the benefits of the new training package.