Update on Mandatory Continuing Professional Development for property agents in Queensland
On 30 October 2023, the Office of Fair Trading (OFT) sent communications to all licensed and registered real estate professionals in Queensland attaching the Decision Regulatory Impact Statement (DRIS) in relation to the Queensland Government’s enquiry into mandatory continuing professional development (CPD) for property agents in Queensland.
This email has caused significant confusion among the industry due to the language used which reads as if mandatory CPD is now a requirement.
At this stage it is important to note that no laws have been developed or passed with respect to mandatory CPD for property agents in Queensland. The Queensland Government has begun work on these law reforms.
The REIQ will keep members updated with important information including when the laws are developed, passed and will come into effect.
Did you know the REIQ already has CPD resources available to members? Find out more about becoming a member.
What is proposed in the DRIS
The Queensland Government has concluded that a regulatory model will be legislated whereby property agents will be required to complete two CPD sessions annually:
- one session derived from the national property services training package – a ‘CPD version’; and
- one session from an approved list.
Agents will need to indicate that they have completed the annual CPD requirements when renewing their licence or registration, as well as keep necessary completion records.
The REIQ welcomes the Queensland Government’s decision to introduce mandatory CPD for property agents in Queensland, in line with other jurisdictions.
As a core policy position, the REIQ has consistently lobbied the Queensland Government for mandatory CPD for over a decade. You can read the REIQ’s most recent Submission about mandatory CPD here.
The REIQ is working with the OFT in its development of legislation and will sit on the Industry Advisory Panel which will provide advice to the chief executive on acceptable CPD sessions. The panel will be asked to nominate possible CPD sessions that relate to one or more of four topic areas:
- Sound financial management;
- Relationship management;
- Emerging industry trends; and
- Legislative requirements
A 12-month transition period has also been proposed to prepare real estate professionals.
Further reading - find out more about the new Seller's Disclosure Regime.
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